Magicland DeFi

Proposal details

Project Name

Magicland

Project Type

DeFi Dapp

Proposal Description

Magicland is an emerging sustainable decentralized one-stop DeFI portal that starts with yield farming powered on Arbitrium. Our focus is to provide a safe yield farming experience for our citizens who are supporting Magicland along the journey to become the most magical DeFI place on Arbitrum. Our vision is to create a long-lasting DeFI protocol on the Arbitrum where both the Magicland and its citizens will grow together to witness the rise of Arbitrum in gaining the iron chair of the L2 war.

Value proposition

As a new side chain boostraping its DeFI ecosystem, it often needs a inflow capital to the ecoystem to experience DeFI application. And the first DeFI application that can quickly educate the users about DeFI is yield farming application. Therefore, Magicland aims to be the most magical DeFI place on IoTeX to provide its users to learn, experience and familiar with the magic of DeFI. Magicland is attracting huge TVL as well as community engagement to stake their crypto assets especially IoTeX to earn MAGIC. We have launched on Arbitrum two days with an about $80M TVL and placed the second Dapp on the leaderboard of Aribtrum. Arbitrum TVL - DefiLlama

Milestones

  • Milestone 1:
    • Duration (weeks): 2
    • Deliverables: Deployment of contract and frontend
    • Funds request (USD): 10,000 USD
  • Milestone 2:
    • Duration (weeks): When reached
    • Deliverables: TVL reached 4M, consistently for over 15 days
    • Funds request (USD): 10,000 USD
  • Milestone 3:
    • Duration (weeks): When products launched
    • Deliverables: Deployment of village (multi reward syrup pool) and cellar (autocompounding vault)
    • Funds request (USD): 5,000 USD
  • Milestone 4:
    • Duration (weeks): When the product integrated
    • Deliverables: Stableswap LP farm integration on autocompounding vault
    • Funds request (USD): 10,000 USD
  • Milestone 5:
    • Duration (weeks): When reached
    • Deliverables: TVL reached 10M for over 15 days
    • Funds request (USD): 5,000 USD

Total funds requested

40,000 USD

Will be used for:

  1. Smart Contract Deployment
  2. Frontend Web Setup/Hosting
  3. Initial Pool Liquidity
  4. Marketing expenses
  5. Continuous Product Development
  6. Talent Recruitment

About your Team

anon team KYC’ed to MCN Ventures (vfat, Bill the Investor)

Running multiple yield farms in the past with the most successful launch of Magicland on Arbitrum. Achieved $100M on the first day and maintain a $75M on second day. Technical is consulted by vfat which is DeFI OG and developers of https://vfat.tools. Marketing and Community is assisted by MCN GP/LP.

This will be first multi-chain one-stop DeFI portal starting with yield farming launched on IoTeX. We believe in IoT blockchain is a new gateway to physical world and excited to be part of IoTeX Ecosystem.

Metrics

N/A

Links

=== Do not change this section ===

By posting a proposal, you accept the rules below:

https://community.iotex.io/t/grant-issuance-rules/3839

Community voting

Poll not available - This grant was issued internally by the IoTeX Team.

=== Please add Milestone Reports below ===

Milestone Report: #1
:pencil:Invoice form has been filled out correctly for this milestone.
Deliverable Name : Deployment of contract and frontend
Proof : https://iotex.magicland.fi
Note : .Deployment on IoTeX and frontend
Payment tx :

Milestone Report: #2
:pencil:Invoice form has been filled out correctly for this milestone.
Deliverable Name : TVL milestone
Proof : https://iotex.magicland.fi, Magic-land Protocol: TVL and stats - DefiLlama)
Note : When TVL > $4M for 15 days
Payment tx :

Milestone Report: #3
:pencil:Invoice form has been filled out correctly for this milestone.
Deliverable Name : Deployment of village (multi reward syrup pool) and cellar (autocompounding vault)
Proof :[Magicland | IoTeX ](Magic Land Finance & Magicland Village)
Note : Depolyed village and Cellar
Payment tx :

3 Likes

Congratulations to Magicland DeFi for hitting and keeping very high TVL values for months now!

https://defillama.com/protocol/magic-land

1 Like