ðMagic Memberships
Last updated
Last updated
Magic Memberships comprise tiered subscription levels in the Magic Store, where users can lock in a specified amount of SQR tokens to access a range of benefits. These tiers include Basic, Plus, Premium, and Premium Plus. The Basic tier is free for everyone and does not require locking in any SQR tokens, while the higher tiers â Plus, Premium, and Premium Plus â offer escalating rewards such as daily SQR tokens, increased Karma point multipliers, higher commission bonuses, priority on Hot Offers, more significant allocations in launchpad events, and exclusive participation in airdrops. Membership levels can be instantly upgraded, but downgrading necessitates a 30-day waiting period, with the ownership of locked SQR tokens retained throughout the membership.
A Magic Membership in the Magic Store is essential as it provides diverse benefits to meet different user needs and preferences. Here are the benefits for each tier:
Only users with Plus, Premium, and Premium Plus Memberships can accumulate SQRp from the daily reward pool, which totals 1,000 SQRp Points. Basic (Free) users are not eligible to earn daily 1,000 SQRp points. However, they can still claim rewards from Hot Offers.
Basic Membership: Requirement: Free, no SQR tokens need to be locked.
Plus Membership: Requirement: Locking in 50 $SQR tokens.
Premium Membership: Requirement: Locking in 200 $SQR tokens.
Premium Plus Membership: Requirement: Locking in 500 $SQR tokens.
The calculation is performed weekly, according to the following formula:
Fixed Rewards = APR * (Reward Period Duration / Year Duration / 100 * Balance)
Reward Period Duration: 1 week
For the $SQR base, we consider the actual amount of $SQR that the user has deposited into their account.
For example, if a user received a Free Upgrade to the Plus Tier and then transferred 450 $SQR to their MagicID, we use 450 $SQR as the base.
To learn how to upgrade your Magic Membership in just a few easy steps, click here.
Every month, you will accumulate a certain number of SQRp Points.
1 SQRp equals 1 USDT.
The more SQRp points you accumulate, the larger your allocation in USDT will be.
