Alpha Mining》Sonic Ecosystem Magpie introduces FLY(3,3) to initiate trading incentives, public sale starts tomorrow.

Tomorrow (22), the Sonic ecological project Magpie will launch a $FLY public sale. As a cross-chain liquidity aggregation protocol, founder Ali Raheman recently introduced FLY(3,3) innovative token economic model, what are the highlights? For more project analysis, please read the "Moving Zone Alpha Mining Series". (Synopsis: Alpha Nuggets) Shadow Exchange Innovation x(3, 3) mechanism, what is it? Sonic breaks the Uniswap dilemma) (Background supplement: Alpha Nuggets" DeFi godfather AC's new project Flyingtulip exposed, how to maximize liquidity provider benefits? DeFi godfather Andre Cronje The actively developing public chain Sonic, has grown its total lock-up value (TVL) to $850 million since its launch less than 4 months ago, an increase of 83% in the past month, becoming a hot spot for liquidity mining and fertile ground for Nurturing DeFi innovation mechanisms. For example: Shadow's x(3, 3): A new token economy mechanism Flyingtulip: Introducing an AMM model based on dynamic adjustment of volatility Rome Protocol: Double Staking and Proof of Burn Now, Magpie founder Ali Raheman will too FLY(3,3) The innovative token economic model is brought into the Sonic ecosystem and will soon launch its token $FLY public sale next (22). How exactly does this project work? Let's dive into it together. Magpie Protocol (hereinafter referred to as Magpie) is a decentralized cross-chain liquidity aggregation protocol, which aims to provide users with a fast, secure and efficient cross-chain exchange experience by aggregating the liquidity of DEX and bridging protocols on multiple blockchains. The project solves the pain points of cross-chain bridging, liquidity decentralization and user experience in DeFi, and now supports 19 blockchains, the latest including Sonic, Berachain, Linea and Ink, etc., with a cumulative transaction volume of more than $4.2 billion and as many as 72 liquidity sources. @Rav_Hedda, founder of 0xMedia, described Magpie as a DeFi comparison network, connecting DEX and DeFi protocols scattered on 19 blockchains, comparing prices in multiple places, and choosing the most cost-effective, lowest commission, and least slippage transaction path. According to community members @0xAsta, Magpie generally offers better offers than other exchange protocols such as 1inch and KyberSwap. In the Sonic ecosystem, the public chain will give back 90% of the gas revenue to the project party, and Magpie will further use this fund to reduce the transaction costs of users and create a more cost-effective and rewarding platform. Therefore, when users have token exchange needs, Magpie can be included in one of the price comparison protocols. In terms of funding, Magpie closed a $3 million seed round in September 2022, led by Jump Crypto, with other investors including Sandeep Nailwal (co-founder of Polygon), GSR Markets, ParaFi Capital, Republic Capital, and others. FLY(3,3) mechanism On the 19th, Ali Raheman proposed an innovative token economic model FLY(3,3), which is x(3 by the largest DEX Shadow in the Sonic ecosystem, 3) mechanism inspiration, but focuses more on "trader" incentives than on providing liquidity. The mechanism aims to attract active traders, market makers and active participants (degens) by subsidizing transaction costs. The specific operation is as follows: Staking and voting: Users pledge $FLY tokens to receive xFLY, xFLY gives voting rights, and users can vote on which assets are rewarded with FLY emissions. Trading incentives: FLY emissions are no longer used to reward liquidity providers, but are directly used to reduce transaction costs, especially for the most voted assets. Bribery Rewards: This allows traders and token issuers to offer bribe rewards to $FLY stakers to compete for FLY emissions. Passive participation: In addition to voting, xFLY can also passively share in the protocol revenue, because Magpie will use the fee buyback mechanism to add value to xFLY. Multiplier system: Dynamic multiplier rewards are offered based on the user's trading volume and staking, but the multiplier decays over time, encouraging early and loyal users. The goal of this mechanism is to create a "flywheel effect", in which transaction incentives lead to more trading volume, which in turn generates more fees and voting incentives, and ultimately increases the demand for FLY and xFLY, forming an autonomous and continuous cycle. At present, FLY(3,3) The mechanism is still in the adjustment stage, and officials say they are working with a council of "advanced users and stakeholders" to refine the model to ensure medium-term growth and long-term sustainability. ve(3,3) revolutionized liquidity provisioning. Introducing FLY(3,3).A ve(3,3) inspired model on Sonic.@magpieprotocol attempts to redefine trading incentives with FLY. Here's how.(1/13). pic.twitter.com/rpzT3tOcU7 — Ali Raheman (@dr_rahemanAli) March 18, 2025 FLY Public Sale Launched Tomorrow It is worth noting that Magpie Protocol will launch the public sale of $FLY on March 22 at 7:30 am Taiwan time, at Performed on the Fjord Foundry (@FjordFoundry) platform on the Sonic chain. Here are the key details: When: March 22, 7:30 a.m. to March 25, 7:30 a.m. Fundraising: $2.1 million. Price: $$FLY 0.45 each. Unlock method: full unlock at TGE, no lock-up period. Sales type: Whitelist (Whitelist) + Public sale. The whitelist covers users who are actively participating in the Sonic ecosystem, including the community of the protocol shown below, and you can check whether you are eligible for the whitelist through the following link: magpiefi.xyz/whitelist. Whitelist communities that can participate in the public sale of FLY Participate in Magpie incentive activities In addition to the public sale, users can also participate in Magpie's Boost activities to get multiple rewards, including: Magpie points (Eggs), which are limited Magpie ...