Beefy MAGIC-ETH
Description
The strategy provides liquidity for MAGIC, a token issued by Treasure DAO. Treasure are building gaming infrastructure on Arbitrum and currently host over 10 games on their platform.The MAGIC token serves as the backbone for in-game economies and is designed to gradually accrue value over time.
Risk Level โ 'A'
Narrative
MAGIC and Treasure DAO are part of a broader GameFi sector, which are essentially blockchain-based games. The goal of GameFi is to bring transparent and seamless payment rails for gaming economies and to allow gamers to get rewarded for their in-game efforts.
Why invest?
MAGIC is a token that powers multiple games on the Treasure DAO platform. Investing in MAGIC is essentially a bet on the development of the Treasure ecosystem.
Whatโs inside?
Funds are converted into MAGIC-ETH LP on Sushiswap and are then wrapped by Beefy to automatically compound accrued rewards.
What makes it stand out?
The strategy features an altcoin with a very unique usecase and economic design and offers a significant amount of rewards for liquidity provision, making it a great fit for long-term MAGIC and ETH investors.
Safety Scoring
Simplicity - 3/5 | Longevity - 5/5 | Protocol safety - 5/5 | Overall score - 4.3/5 |
---|---|---|---|
Has potential for losses, withdrawal fees, or requires detailed queue management to prevent losses. | Strategy has been running for 8+ months with no critical issues and no changes in code base. | Utilized protocol has been audited by multiple firms, have an active bug bounty and had no exploits or hacks in the past. | Low risk |
Last updated