As we re-invent the wheel on MAGMA, and plan on launching MoltenChain we are creating creative ways to create liquidity for swapping pairs.
Initial LP Options
When we launch MoltenChain and MAGMA to mainnet we will create liquidity pools with the following pairs:
USD/USDC to MAGMA | We will keep USD in a US bank account with the matched amount in USDC. On MoltenChain we will deploy a smart contract, and oracle to power the bridge and liquidity pool.
ALGO to MAGMA | We will keep ALGO in a wallet, matched to the amount of MAGMA to create a liquidity pool with Algorand and MAGMA, on MoltenChain we will deploy a smart contract, and oracle to power the bridge and liquidity pool.
ADA to MAGMA | We will keep ADA in a wallet, matched to the amount of MAGMA to create a liquidity pool with Cardano and MAGMA, on MoltenChain we will deploy a smart contract, and oracle to power the bridge and liquidity pool.
BTC to MAGMA | We will keep BTC in a wallet, matched to the amount of MAGMA to create a liquidity pool with Bitcoin and MAGMA, on MoltenChain we will deploy a smart contract, and oracle to power the bridge and liquidity pool.
ETH to MAGMA | We will keep ETH in a wallet, matched to the amount of MAGMA to create a liquidity pool with Ethereum and MAGMA, on MoltenChain we will deploy a smart contract, and oracle to power the bridge and liquidity pool.
As time goes on we will expand the pairs offered including MAGMA Stables a tethered token powered by Oracles and a swapping bridge. MAGMA Stables will be available on the following networks:
MAGMA-ALGO | A MAGMA stable token on the Algorand network.
MAGMA-ETH | A MAGMA stable token on the Ethereum network.
MAGMA-ADA | A MAGMA stable token on the Cardano network.
MAGMA-LINK | A MAGMA stable token on the ChainLink network.
MAGMA-DC | A MAGMA stable token on the DogeChain network.
MAGMA-ICP | A MAGMA stable token on Internet Computer network.
MAGMA-IOTA | A MAGMA stable token on the IOTA network.
MAGMA-ATOM | A MAGMA stable token on the Cosmos network.
MAGMA-BNB | A MAGMA stable token on the Binance network.
MAGMA-NEAR | A MAGMA stable token on the NEAR network.
MAGMA-ZIL | A MAGMA stable token on the Zilliqa network.
MAGMA-MATIC | A MAGMA stable token on the Polygon network.
MAGMA-TRX | A MAGMA stable token on the Tron network.
MAGMA-DOT | A MAGMA stable token on the Polkadot network.
MAGMA-XLM | A MAGMA stable token on the Stellar network.
MAGMA-PLS | A MAGMA stable token on the PulseChain network.
MAGMA-HECO | A MAGMA stable token on the HECO network.
MAGMA-VLX | A MAGMA stable token on the Velas network.
MAGMA-FTM | A MAGMA stable token on the Fantom network.
MAGMA-SOL | A MAGMA stable token on the Solana network.
Since the native MAGMA on MoltenChain will have so many stable tokens we will need to make these tokens interchangeable, to do that we will need a liquidity pool for each pair. This is why the native MAGMA will have a total supply of 16,317,000,000 MAGMA.
The amount of MAGMA for each pair is 777,000,000 MAGMA and since there is a total of 21 networks, 777000000x21=16317000000.
The initial value of MAGMA on MoltenChain will be 0.0000007000, which is valued at $543.90 per network. With the addition of Bitcoin, Litecoin and Dogecoin.
Each MAGMA stable token will require $543.90 in liquidity with their network's parent coin, for example:
MAGMA-ALGO will require liquidity on the Algorand side with $543.90 of ALGO matched with MAGMA-ALGO, but on the MoltenChain side, we will require liquidity of 777,000,000 MAGMA to MAGMA-ALGO.
By the time we are finished, we should have a total of 50 liquidity pools with $543.90 of liquidity for each one, totaling $27,195 at $0.0000007000 per MAGMA.
We are in talks with Circle in joining them as a possible partner, in the future to handle our FIAT to MAGMA process. Circle transaction fees will be passed on to the buyer, so we can ensure the presence of liquidity.