Magic Square Integrates 1inch Swap API, Launches Swap Competition

Web3 App Store Magic Square announced on Tuesday that it has integrated 1inch Swap API into its platform. In a press release shared with Cryptowisser, Magic Square revealed that the integration also comes with the launch of a $SQR Swap Competition valued at $25,000.

The competition will reward users for their active participation and transactions. According to the team, the integration will allow Magic Square users to enjoy excellent swap conditions offered by 1inch, which supports 12 networks and boasts over 380 liquidity sources. The 1inch Swap API is set to enhance the utility and efficiency for Magic Square users significantly. 

While commenting on this integration, Andrey Nayman, Magic Square Founder and CEO, said,

“This collaboration with 1inch marks a significant milestone for Magic Square. Our goal has always been to provide our users with the most seamless and rewarding experience possible. By integrating the 1inch Swap API, we’re not only expanding our service offerings but also enhancing the overall value for our community through additional rewards.”

Alexandra Fetisova, Partners & Community Lead at 1inch added that,

“We are thrilled to collaborate with Magic Square. The 1inch API, offered by our developer portal, aims to make users’ DeFi journey smoother and more efficient.”

The $SQR Magic Swap Competition will reward users based on their total swap volume. Furthermore, every swap transaction earns users Karma points, further incentivizing active participation within the ecosystem. At the end of each day, 10,000 $SQR will be distributed among Magic Store users based on the Karma points they have collected.

The team believes that the Magic Swap Competition and Karma Rewards for Swap significantly enhance the utility of the Magic Store and the $SQR token. 

Magic Square is the first Web3 App Store, designed to tackle the challenges of user acquisition, enhance user engagement, and offer a rewarding experience through its community-driven platform. The platform connects high-quality users with projects, fostering meaningful interactions and growth. Backed by Binance Labs, Magic Square has over 4.5 million registered users and more than 1,300 apps and games listed on its platform.