Magic Swap
Information about Magic Swap (Powered By 1inch)
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Information about Magic Swap (Powered By 1inch)
Last updated
Was this helpful?
Magic Swap is a powerful feature within the Magic Store that allows users to seamlessly swap cryptocurrenciesâand now, across different blockchain networks. Magic Square has integrated the 1inch Swap API to enable these efficient swaps. Users can easily exchange tokens and earn Karma Points with every swap they complete.
With the latest upgrade, Magic Swap now supports cross-chain swaps, making it even more versatile. Users can swap tokens between chains directly through the Magic Store interface, all while maintaining full self-custody of their assets.
1inch Swap API enables users to make the most efficient self-custody swaps in major DeFi ecosystems. It compares crypto swap rates across multiple liquidity sources to ensure users get the best possible rate.
1inch Swap API supports the exchange of ERC20 and BEP20 tokens across several blockchain networks, including Ethereum (ETH), Binance Smart Chain (BNB), Polygon (MATIC), Fantom (FTM), OP Mainnet (Optimism), Base, and Arbitrum (ARB).
Ensure that you are logged into your Magic Store account.
Make sure that you have enough funds for the swap you wish to execute.
Ensure you also have enough funds to cover the gas fees.
Remember to add the token to your wallet before starting the swap.
You earn Karma Points for every token purchase. More information is provided below.
Choose your wallet provider and click on the "Sign-in" button.
If you are swapping to $SQR, you will need to add the token to your wallet before beginning the swap. Follow these steps:
Click on "Import Tokens" in your wallet.
Paste the Token Contract Address (0x2B72867c32CF673F7b02d208B26889fEd353B1f8) and click on "Next".
Click on "Import", and you're all set.
Find the "Swap" button on the right side of the screen and click on it.
For this guide, we'll use SQR on Binance Smart Chain and perform a cross-chain swap to Polygon for POL tokens.
Click on the "Swap" button, then sign the transaction by clicking on the "Confirm" button. And wait for the transaction to complete.
Congratulations! You've successfully swapped your tokens!
Cross-chain swaps take longer to complete than standard swaps.
For every token swapped to $SQR, you will earn 0.25 Karma Points for each $1 swapped. (Daily Limit: 5000 Karma) For swaps between other tokens, you will earn 0.1 Karma Points for each $1 swapped. (Daily Limit: 2500 Karma) For swapping from $SQR, you will not earn any Karma Points. Total Daily Karma Points Cap: 7500. Note: Karma may take up to 30 minutes to appear in your MagicID after completing a swap.
