MAGIC Reward Token MAGIC

MAGIC Reward Token (MAGIC) is a decentralized cryptocurrency on the Pulsechain blockchain, offering holders both transactional utility and passive income through its unique reward mechanism. This paper highlights its features, functions, and integration across decentralized applications to give benefits to holders. Attention! Although we try our best to cover the most important aspects, It's impossible to cover the full detailed ecosystem on just one page. For a full detailed explanation of the ecosystem, we recommend reading the whitepaper. Introduction MAGIC Reward Token (MAGIC) is built as a deflationary PRC-20 Token. It's different from regular cryptocurrencies because it acts as a deflationary token and burns 1% of the transaction amount. This gives the token more value over time. MAGIC token also serves as a reward token for people who use the Voodoo Token in different decentralized applications (e.g., Staking, Farming). Token Details: • Token Name: MAGIC Reward Token • Token Symbol: MAGIC • Total Supply: 10,000,000 MAGIC • Circulating Supply: 10,000,000 MAGIC • Decimals: 18 • Token Contract: 0xd63b9d8d6e38cb7fbfdceede3ce92f97f5aea7ac MAGIC Reward Token is an PRC-20 token, ensuring compatibility with a wide range of decentralized applications built on top of pulsechain. VoodooGroup VoodooGroup is an external and decentralized part of the Voodoo ecosystem (Decentralized autonomous organization), set up to ensure and analyze the smooth functioning and growth of the project. It uses POISON Reward Token as reserve currency to fund decentralized applications ( Staking, Gambling ect.) Another goal of VoodooGroup is providing 24h support and assistance to all users and holders within the ecosystem. Use Cases 1. Passive Income Generation: MAGIC provides Voodoo holders with the opportunity to earn passive income through staking, farming, and liquidity mining. By participating in these activities, holders can accumulate additional MAGIC tokens over time. 2. Governance Participation: Holders of MAGIC will have the opportunity to participate in governance decisions related to the future development and direction of the ecosystem. Through voting mechanisms, holders can influence protocol upgrades, fee adjustments, and other governance parameters. 3. Utility in DeFi Ecosystem: The MAGIC token serves as a utility token within the Voodoo ecosystem, providing holders access to various services such as gambling activities and the ability to contribute to liquidity pools through the farming platform. Contributing liquidity with farming helps stabilize the MAGIC price performance and reduces price manipulation. MAGIC Reward Token role across different decentralized applications Staking Platform The MAGIC Reward token serves as a Defi token on the staking platform, enabling Voodoo stakers to receive rewards in MAGIC tokens. Gambling application The MAGIC Reward token functions as a utility token on the gambling platform, allowing users to use it as a gambling token. Tokenomics Total Supply The total supply of the MAGIC Reward Token starts at 10,000,000 and will be decreasing over time. This because of the 1% burn function implanted in the code. The daily burn rate depend also on the 24h trading volume, How more volume MAGIC Reward Token get. How faster the supply decrease Liquidity Pool –30% Around 30% (3,000,000 tokens) will be used as liquidity across multiple pools. This to ensures easy trading, and stability in the markets. Holders Redistribution –70% We use 70% (7,000,000 tokens) as a reserve fund for our decentralized applications to reward De-Fi users Roadmap Behind the scenes, VoodooGroup is working on a user-friendly crypto wallet called Voodoo Wallet, where you can securely store POISON Reward Tokens on your own phone. With easy access and security features, managing your tokens will be very easy. This wallet also includes a cross-chain swap, sending money requests, and storage for NFTs that are bought in the Voodoo fiat-on-ramp crypto shop. As you might have read in the whitepaper, VoodooGroup is also continuously developing new decentralized applications to keep attracting new users to the Voodoo ecosystem. Conclusion MAGIC Reward Token is an PRC-20 token designed with deflationary features, offering innovative functionalities and passive income opportunities within the Voodoo ecosystem. Through its 1% burn mechanism, along with gambling and farming capabilities, MAGIC serves as a reserve currency for holder distribution. MAGIC aims to redefine the concept of deflationary tokens while providing utility across various decentralized applications for holders