| Fully Diluted Valuation | $243,678 |
|---|---|
| 24H Trading Volume | $464 |
| 24H Low / High | $0.00 / $ 0.00 |
| Circulating Supply | 4.00M |
| Total Supply | 4.00M |
| Max Supply | 4.00M |
| Categories | DEAD 1 more |
|---|---|
| Founder | Anonymous |
| Website | defimagic.io |
| Socials | 1 more |
| Chains | Polygon-pos Ecosystem |
| Explorer | Polygonscan |
| Contracts |
0x61d....16aa7
|
| Name | Pair | OG Score |
|---|
Dark Magic (DMAGIC) is a utility token designed to play a key role in the decentralized finance (DeFi) ecosystem. This token offers several unique features that aim to benefit both users and the broader ecosystem.
Utility Token with Multiple Functions
DMAGIC serves as a utility token within its platform, meaning it has a specific purpose beyond just trading. It is used to facilitate transactions, allow governance participation, and incentivize users who engage with the platform.
Transaction Fees and Rewards
DMAGIC incorporates a transaction fee, typically around 1.5%, which is used for several important purposes. These include rewarding users through yield farming, supporting future development, and burning tokens to reduce the overall supply, which can help increase the value of the remaining tokens over time.
Price Floor Mechanism
DMAGIC features a unique system known as a price floor, driven by a token called Drax. This locked liquidity pool wrapper ensures that as tokens are locked into liquidity pools and burned, the price floor could potentially rise. This feature aims to provide stability and foster exponential growth as the ecosystem expands.
Expanding Ecosystem Integration
As the platform grows and forms new partnerships, DMAGIC’s utility continues to increase. It becomes more transferable and useful across different ecosystems, helping to fund development and reward participants.
Deflationary Nature
One of the most interesting aspects of DMAGIC is its deflationary mechanics. Through regular token burns, the supply of DMAGIC decreases, which could drive up its scarcity and potentially increase its value if demand grows.
In conclusion, Dark Magic (DMAGIC) is more than just a token; it’s a key element of an evolving DeFi platform designed to offer innovative solutions while encouraging user participation and growth.
Dark Magic (DMAGIC) stands out for its transaction fee mechanism, unique price floor system with the Drax token, and deflationary nature through token burning, which can help drive its value and stability over time.
The specific founders of Dark Magic (DMAGIC) have not been disclosed, but the platform is built by a team dedicated to providing innovative DeFi solutions within the ecosystem.
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