MagicSwap v2 is the first AMM in crypto backing NFTs &all ERC-20s via a single router



MagicSwap v2 is the first AMM in crypto, properly supporting pools, in the case of ERC-20s, as well as NFTs, all through a single router. It also happens to be providing the opportunity to trade all existing items in a game economy (expendable and non-expendable). Following the protocol’s release, it will support the ERC-20, 721, and 1155. It will also have the added ability to quickly bring in new NFT types with the use of custom vaults.

It also has automated royalties that can be attached to each group, a feature that was added to the procedure around creating surveys. In the near future, there are plans to integrate it into the Trove marketplace, giving users a way to use the exchange without the need to interact with AMM.

Plans are underway to deliver MagicSwap early in Q2 2023 on Arbitrum. Right now, Macro is performing an audit. After this, the plans are to position it in Arbitrum Nova and slowly explore new avenues of connection with other chains in Web3 games.

MagicSwap makes use of $MAGIC in terms of governance and fee tokens in the case of Arbitrum execution. MagicSwap was designed with the intention of making it a tool for creating engaging gaming experiences while keeping players engrossed.

One of the most prominent features of MagicSwap is that it connects all the gaming economies of Web3 with the help of a single router. It also provides groups with separate types of NFTs. This feature is not prevalent in current AMMs. It also helps improve the overall trading experience by allowing users to trade NFTs without handling an ERC-20. The protocol has a three-tiered royalty framework, consisting of the protocol fee, liquidity provider fee, and creator royalties.

In the current scenario, players have to manually list their items in the market, which hinders the flow of the game itself. MagicSwap was created to eliminate such interruptions. It gives users the opportunity to be able to get any amount of NFT from the pool. There is also the provision for game economies that help in self-balancing in terms of player exchange. Furthermore, the protocol comes with a decentralized TWAP oracle based on Uni-V3. Gives projects the option to build pools using an ERC-1155 in base pair form.

The protocol has a vault authorization option, which game developers can use to formulate rules in the case of trading beyond the pool. However, the granting permissions feature may seem anti-cryptographic at an initial level. However, players must have some degree of control over their games. It also facilitates the new Web3 games.

Previous games came with features like location-specific markets, like bazaars where players could buy and sell from each other. As of the date, they can trade beyond the game location. In the case of MagicSwap, game developers can use it to create a network of tokens that can be exchanged with each other. The protocol also makes use of $MAGIC in terms of the token fee. 0.5% is needed in terms of MAGIC trades made through MagicSwap pools.