🌎 Ecosystem
Last updated
Last updated
The Magic Yearn ecosystem is driven by specific digital assets and NFTs (Non-Fungible Tokens) that help power operations across our platform and ultimately drive value to all stakeholders ✅
To better understand how this economic engine runs, take a high-level look at the components below or navigate to each section for more detailed information:
Magic Yearn Share Token (MyS): Utility token that reduces transaction fees, allows users to MyInk tokens, vote in governance, and receive MyS rewards for staking liquidity tokens
Magic Yearn XXX Tokens (myXXX): Wrapped versions of ERC-20 tokens (where the “XXX” represents the corresponding ticker symbol). By holding or providing liquidity, users can accumulate more myXXX tokens that can be exchanged with their ERC-20 counterpart at a 1:1 ratio at any time
Magic Yearn Exchange Token (MyEx): Exchange value asset that connects every myXXX token for arbitrage trades and gives a direct route to swap MyS and burn from myXXX DAO fees
Magic Yearn NFTs (myNFT): Allows users to receive and mint unique NFTs that have their own pixel color combination (blocked when being minted). Minting myNFTs requires either utilizing MyFreeInk (received through airdrops or via events) or minting MyInk for MyS tokens