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Topic

  • Products

  • SQR Token

  • Users

  • Creators

  • Validators

Section

Knowledge Base

Exclusive Access

Welcome to the Magic Square Knowledge Base. This page is dedicated to serving our vision of full transparency by providing unfiltered information about all of our products and processes. Here we reveal all of the magic in our ecosystem: the Magic Store, Magic Spaces, Magic Connect, and Magic Community, as well as information relevant to the three key players in the ecosystem: Users, Creators, and Validators. We update this page regularly to reflect the latest product info.

Products

All Magic Square products are dedicated to our mission of bringing our users the ultimate experience by bridging blockchains, integrating features, and simplifying user flows. We create a secure environment for our Users, Creators, and Validators alike through the power of our DAO community.

The Magic Store

Before the Magic Store, there was no place for users to discover community-validated crypto applications, and there was no place for Creators to market and host their crypto apps. The Magic Store emerged to fill this need: to host community-vetted crypto apps and give users one convenient place to discover and use secure, trustworthy apps.  But the Magic Store doesn’t stop there, and it’s not just a store: it’s a holistic platform complete with integrated DeFi, streamlined cross-chain staking, NFT discovery, and more. 

The Magic Store operates under a policy of complete transparency: voting results, user reviews, and live app statistics, such as the number of total downloads to Spaces, are displayed under each app page on the Magic Store. 

Use to Earn

Magic Square users are rewarded daily for all of their on-Store activity through a use-to-earn model. Each day, Magic Square distributes rewards based on the personal ranking of the user, known as their “Karma Score”. Users with the highest monthly score receive additional rewards as special NFTs.

Magic Karma

“Magic Karma” is a personal score granted to users which quantifies all of their Magic Square activity. The higher a user’s score, the more the community can trust the user. Magic Karma has many uses in the Magic Square ecosystem, including determining Use to Earn reward allocation. 

The following table lists the exact scoring and specifications per action on Magic Square.
ActionKarma Scoring Specifications
Like+0.1Maximum of ten likes per day
Share+1Maximum of ten shares in total and one share per app per day
Comment+0.3Only 1 comment per dApp (Up to 10 Comments per Day)
Add to Space+0.1Limit of +1.0 point per day in for total Adds to Space
Reviews+0.4Up to ten reviews per day
Reviews+1.5More than ten reviews per day
Referrals+3Upon new user’s completion of a full Magic Connect registration
Contests+0.4Unlimited
Swaps+0.3Limit of one reward per token. Unlimited number of tokens
Staking+0.3Limit of one reward per token. Unlimited number of tokens
Trades+0.3Limit of one reward per token. Unlimited number of tokens
Lend+0.3Limit of one reward per token. Unlimited number of tokens

Magic Spaces

game icon

After you, as a user, discover an app on the Magic Store, the next step is to add it to your personal dashboard known as Magic Spaces. Magic Spaces allows you to use apps without downloading them to any device. Now all you need is to add an app to your personal Spaces, log in with Magic Connect, and open it within the Spaces interface. When you select an application to use in Spaces, it simply opens in a new tab inside of Magic Spaces. You can also organize your apps to suit your needs and add any helpful widgets you want to customize your Spaces just for you. To connect to Magic Spaces and all of the apps and widgets hosted there, simply log in with your one-click Magic Connect login.

Magic Connect

All you need to do to access your Magic Spaces is log in with your one-click secure Magic Connect login. Magic Connect establishes a secure connection to all of your apps at once using Self-Sovereign Identity (SSI) technology. SSI lets you maintain complete control over your credentials and information at all times. Magic Square apps cannot access your information, wallets, etc. without your explicit SSI permission, which you manage through the Magic Connect interface.

Magic Connect is an HTTP-based service that uses smart contracts hosted on the blockchain. It serves as a holder of the Verifiable Data Registry which stores Decentralized Identifiers (DIDs) and maintains an interaction between all the participants.

The Magic Connect system includes the following components: Users, Verifiable Data Registry, Issuers, and Verifiers. Issuers are defined as the institutions that issue Verifiable Credentials (VCs). Verifiers are the institutions that are requesting the User’s VCs. The interaction between the Users, Verifiable Data Registry, and Issuers is essential for a one-time setup of the Magic Connect login. Once Magic Connect is set up, users are always just one click away from their Magic Spaces, apps, and widgets.

Magic Community

rate section

The Magic Community oils the gears of the Magic Square ecosystem, operating as a DAO by governing all decisions within the ecosystem. The community validators are responsible for voting on the quality of each app to decide whether it should be whitelisted or rejected. This way, Magic Square ensures that all of the featured apps in the Magic Store are high quality and trustworthy. 

The community zone is an internal communication platform of the Magic Square ecosystem dedicated to all the topics related to Magic Store, Apps, and  Spaces. In the Community Zone, validators vote on topics such as the addition of new apps to the Magic Store, and users interact with the app developers, chat peer-to-peer, and participate in contests and challenges.

For more information on the system of validation please refer to the Validators section of this page.

SQR Token

magic square token small

The SQR Token is the native token to the Magic Square ecosystem and dictates all operations within the ecosystem. SQR is based on the Solana blockchain.

Token Utility 

  • Governance – Magic Square functions as a Decentralized Autonomous Organization (DAO) by managing through a system of community validators, and without any intervention from the Magic Square team. The SQR token allows the on-chain voting model to function: 
    1.  Creators pay SQR tokens to the Validators who assess their application
    2.  The Community Validators collectively decide which applications should be featured on the Magic Store 
    3. Community Validators are rewarded in SQR tokens for their work
  • User Packages – To access features of the Magic Store, users stake SQR tokens as per three Staking Tiers:
PackageQualificationsIncludes
Base PackageStake 150SQRUnlimited downloads to Spaces
Pro PackageStake 500SQRUse to EarnReferral RewardsKarma Score
Influencer PackageMagic Karma Score > 5000Stake 1000SQR25% boost of daily rating early access to all events, exclusive contests, etc.
  • Ad Space – Creators and service providers who have at least one listed application or approved service can promote their services through a wide number of categories with Ad Space. Creators can win Ad Space by bidding SQR tokens based on SBO (Second Best Offer) mechanics. SQR tokens of the winning bid will be locked for 12 months before they are transferred to the treasury. 
  • Foundation Reserve – Magic Square participates in Revenue Sharing with all the pre-integrated CeFi and DeFi solutions that will be available for the Magic Community.  Each month Magic Square uses 30% of all generated income via Revenue Sharing to buy back SQR tokens from the market. 20% of the tokens will be retrieved to the Foundation Reserve with a 24 month Lockup Period. Another 10% will be infused into the Staking Pool with a 12 month Lockup Period. 
  • Referrals –  Creators can initiate referral campaigns, inviting the Magic Community to refer their friends to their application by creating a pool of SQR tokens to be distributed as referral rewards. Magic Square will collect 10% of all pools to be staked for 24 months before being released into the Treasury.

Tokenomics

SummaryNumber of Tokens%Initial Market Cap
Total Supply1,000,000,000
Total Fundraising3,000,000
TGE Circulation (Tokens)8,000,0000.8%TBD
FDV$
Private Round – Phase 130,000,000
Private Round – Phase 2TBD
Public Sale*TBD

Distribution of SQR tokens

CategoryNumber of TokensToken Price, $Funds $%Comments
Team200,000,00020.00%Lockup 12 Months
Vesting 30 Months
Advisors50,000,0005.00%Lockup 12 months
Vesting 30 months
Private Round – Phase 1100,000,0000.033,000,00010.00%5% Distributed 1 month after DEX / CEX Listing
Lockup 6 Months
Vesting 24 Months
Private Round – Phase 250,000,0005.00%Private Round – Phase 2 will be opened after the Magic Store achieves 100k+ Daily Active Users. Estimated by the end of Q3 2022

5% Distributed 1 month after DEX / CEX Listing
Lockup 6 Months
Vesting 20 Months
Public Sale5,000,0000.5%TBD – Since the Magic Square is a pure B2C project, we are not sure yet that this round will be available. The right Scenario is to list the token on one or two major exchanges for public purchase.

If Public Sale is available, the terms will be the following:

10% Unlocked 1 month after DEX / CEX Listing
3 Month Cliff
Vesting 9 Months
Activity Rewards and Grants150,000,00015.00%1 Month Cliff
Vesting 36 Months
Market Maker30,000,0003.00%Unlocked
DEXs Liquidity 50,000,0005.00%2 Weeks Cliff
Vesting 6 Months
Staking Rewards150,000,00015.00%1 Month Cliff
Vesting 36 Months
Reserves215,000,00021.50%Marketing and Development
Lockup 12 Months
Vesting 36 Months
Total (Fix)1,000,000,0003,000,000100.00%

Users

Why Use Magic Square?

There are many reasons to use Magic Square: it’s simple, it’s convenient, it’s all in one place, but to really understand the value that Magic Square brings to users like you, let’s understand the crypto space before Magic Square existed. Before Magic Square or the Magic Store, you would need to find each crypto app individually. You might have found each app through its own webpage, or social communities through airdrop or bounty campaigns, or maybe from a friend. Wherever you might have heard of the app, you would still need to do some research about the project to see if it’s trustworthy or quality, and the extent of your research would be limited to what you can find on Google — there is no guarantee, even after doing hours of research on a project that it’s a good one.

So, to summarize, before Magic Square, finding new crypto apps was difficult, time-consuming, and risky. Thankfully, the Magic Square ecosystem changed all of this. The combination of Magic Store, Spaces, and Connect make your crypto app experience simpler and more streamlined than ever, and the Magic Square community validation system ensures that any app you find on the Magic Store is secure, trustworthy, and quality. It’s also really easy to compare different apps on the Magic Store using the metrics and ratings listed on each app page.

Access Packages

We understand that the needs of each user might be slightly different, so we let our users choose from three access packages or “staking tiers”: 

Tier 1 – Base Package

  • Users are allotted up to three apps in their Spaces without staking
  • Users stake 150 SQR to unlock unlimited app downloads to Spaces

Tier 2 – Pro Package

  • Users stake 500 SQR to unlock:
    • Use to Earn – daily rewards based on in-store activity
    • Referral Rewards – earn according to their active referrals
    • Karma Score – receive higher daily rewards by accumulating Karma for on-chain activity 

Tier 3 – Influencer Package

  • In addition to Tier 2 perks, users with Karma above 5000 can stake 1000 SQR tokens and receive a 25% boost to their daily rating, which translates to higher rewards. 
  • Influencers receive early access to all events, exclusive contests, etc.

Users can manage and upgrade their staking tier in their “Personal Profile” area. Users can also use the Personal Profile area to customize their Magic Square persona by uploading an avatar icon, managing personal data (password, email, etc.), and setting up Two-Factor Authentication.

Creators

Why list on Magic Square?

For Creators like you, choosing to list on Magic Square should be the easiest decision of your career. Think about it: the Magic Store is the only place you can list your apps where you can be sure that you’ll get users without investing tons in building an individual community around each app, marketing campaigns, etc. With Magic Square, the community already exists, and your apps are whitelisted after community validation to bring you immediate user trust.

Listing on Magic Square means you can invest your time and resources in the development of your apps, and leave the marketing, community building, user-attracting to us. Plus, Magic Square gives you all kinds of extra perks, like access to the Magic SDK toolbox, and Creator Grants for qualifying projects.

How to Qualify for a Grant

Creators of newly listed apps on the magic Store can qualify for grants of up to 200,000 SQR tokens to attract users. The amount of grant tokens is determined through a voting process of the Magic Square Community Validators. Creators who wish to receive a grant must first stake the number of SQR tokens to match the amount they are requesting, for a period of 12 months.
*See Governance and Validation for an in-depth review of Magic Square Community Validation.

How to Upload Apps to the Magic Store

Step 1. Create a Magic Store Creator Account

  • Open developer section in My Account
  • Pass additional verification in the Magic Connect app (link on MC app). You will be provided with detailed instructions on the required data to make a developer profile.
  • Choose New Application Uploading

Step 1.1. Agree to Terms and Conditions

Before starting to work with the application, the client is shown a page with terms and conditions, with which the client must agree, only after that further screens open.

Step 2. Add General 

Before uploading the application assembly, you must provide general information about the application:

  • Select a default language 
  • Specify the unique app’s name under which the application will be available (Length up to 15 characters)

Users will see it when they download the application to the device. The name is displayed on the app’s page in the Magic Store. (A good formula for a marketing name is app name + idea/purpose). If the app is available in multiple languages, we check the length of the title in each language.

  • Add localizable information. Depending on the selected language, we can change the app title and subtitle.
  • Specify the name and description of the application in each language ​​of app distribution.

Localized countries are countries for which we have specified a translation: they will have their own language on the application page in the Magic Store. Non-localized – those for which all information will remain in the default language.

By changing the localization, we only change the settings of the application page in the Magic Store. The application itself will not change the language if it is not hardwired into its code.

  • Create a short and long description. 
    • Short descriptionup to 28 characters in length – should highlight key features that resonate with your audience.
    • Long descriptionup to 400 characters in length – should detail the functionality of the application.
  • Specify the available devices on which your application can be used 

Step 3. Add detailed information about your application

  • Specify the native token  and/or NFT for your project
  • Add app networks (for example Bitcoin, Ethereum, Solana, etc.)
  • Determine the category and subcategory
  • Specify all smart contract addresses
  • Specify an age rating 
  • We use the standard license agreement (terms of use) for publishing apps on the Magic Store, but if the client wishes to use a custom license agreement, it can be changed by clicking the “Edit” button on the panel next to the “License Agreement” subheading.

Step 4. Upload Marketing Materials

  • Upload screenshots per screen resolution. Screenshots must not contain transparency. In order not to cause discomfort to the user, approach the creation of screenshots with a detailed user-oriented vision. Details to look out for include: full battery icon, full 5G mobile network connection bars, correct screen orientation. Failure to attend to details such as these can cause subconscious stress for the viewer. You can upload up to 5 screenshots per screen resolution. The first three images should convey the idea of the application, the rest can be dedicated to specific app functions.
  • Upload app icons. The icon should not have any rounding or transparency.

Step 5. Add Marketing Information

Make your app searchable by adding keywords and tags. Tags promote the application to appear in the search results. We choose tags based on the words that the audience is most likely to use when searching for an app in the Store.

Magic Store Tag Requirements:

  • Up to 100 characters total
  • Tags are separated by commas without spaces
  • May contain spaces within a passphrase

The Store may send the application for rejection due to errors and violations in keywords and tags.

The following represent examples of prohibited tag instances:

  • Unauthorized mention of trademarks, celebrity names, and other protected words and phrases
  • Use of terms not related to the application
  • Use of competing application names
  • Use of irrelevant, offensive, or objectionable terms

Each application must include: 

  • Description of prices and in-app purchases 
  • All social media links
  • Listing links (CoinMarketCap / CoinGecko)

Step 6. Additional Application Information

  • Information about updates (when submitting a new version)
  • Include the owner’s name, contact information, and company info (if available) 
  • Add Privacy Policy. The privacy policy is added to Magic Store simply: Ctrl+C, Ctrl+V. We copy the URL of the client’s document into the appropriate field. If the client does not have a ready-made privacy policy, we offer a document from our studio, compiled in accordance with the Magic Store policy. We do this to speed up the release and not wait for the client to prepare the document.

Step 7. Upload Application Static

After filling in all the required information about the application, you can proceed to upload the application itself to the Magic Store. 

Consider the following technical requirements which differ depending on the type of device on which the application will be used:

Web Application 

1. Archive must weigh no more than 512 Mb

2. Archive structure should be as follows:

  – index.html

  – index.css

  – index.js

  – icon. [ico | png | svg]

  – assets

index.html – the entry point to the application, should contain the index.css and index.js connection

index.css should contain all styles

index.js – bundle

assets – can contain up to 300 media files

File extensions and size limits are as follows:

PDF – 2mbMp3 – 5mb
JPEG – 2mbIco – 2mb
PNG- 2mbSVG – 2mb
MKV – 50mbJS – 5mb
Mp4 – 50mbCSS – 2mb
Webm – 50mbHtml – 300kb
Gif – 5mb
Mobile/Tablet Application

The store has a size limit for compressed APKs at the time they are downloaded on all supported devices.

The following restrictions apply:

150 MB is the maximum size of compressed single device APK downloads generated from App Bundles. The size of the set itself can be much larger.

100MB is the maximum compressed APK download size for applications published in APK format.

Step 8. Final Review and Unique Subdomain Name Selection

Check the uploaded app. Make sure the application looks the way you intended. In case of identified inconsistencies, re-upload the application, or make the necessary changes within the application.

Step 8.1. Automated Diagnostic Tests

Before you can enter your app into the validation process, your app is entered into automatic diagnostic testing to check performance, security, and reputation (anti-fraud).

Step 9. Application Validation Process 

The verification process is conducted by a group of randomly selected Magic Square community validators. All apps, without exception, must pass the community validation process before being featured on the Magic Store. 

To start the validation process, you must stake 10,000 SQR tokens. 50% of these tokens are staked for the duration of the listing, 35% is paid to the validators for their work, and 15% is paid to Magic Square.  In the event of the rejection of the application by the validators, you will be reimbursed all of the tokens except for the 35% which will have already been paid to the validators for their work.

Step 10. Choose a Method for Release 

Because our validation model is based on the work of manual validators, the validation process can take up to two weeks but may be completed well before the two-week mark. It is therefore not possible to set an exact app release date. 

We provide our Creators with three methods for release after validation:

  • Automatic release after review – the application will appear in the Magic Store immediately after a successful review
  • No earlier than the specified date – the application will be reviewed and then wait to be released until a specific date. If for some reason the review is delayed and the selected date has passed, the application will be published immediately after the review.

On-Demand Release – Once the application is reviewed and verified, we can send the Creators a “release” button. When they click the button, the app will be published on the Magic Store.

Actions in Case of Application Rejection 

In the event that your application is rejected by the validators, you will receive a notification indicating the reason for the rejection. Your next steps will be to either: 

  1. Fix the indicated bugs, and upload the application again. If you choose to upload your application again, you will need to stake 10,000 SQR tokens.
  2. If you do not want to re-download the application, you can request to withdraw 65% of your staked tokens (35% has been awarded to the validators for their work). The request for the withdrawal of staked tokens is made in the personal profile. A withdrawal of tokens is accompanied by the Solana network transaction fee, paid in SQR tokens.

When uploading your application, please make sure that your product complies with all security requirements of our system. (See next section: Invalid Content for specifics).

Reasons for App Rejection – Invalid Content

Apps should not include content that is offensive, derogatory, insensitive, upsetting, intended to disgust, or in exceptionally poor taste. Examples of such content include

  • 1.1.1 Defamatory, discriminatory, or mean-spirited content, including references or commentary about religion, race, sexual orientation, gender, national/ethnic origin, or other targeted groups, particularly if the app is likely to humiliate, intimidate, or harm a targeted individual or group. Professional political satirists and humorists are generally exempt from this requirement.
  • 1.1.2 Realistic portrayals of people or animals being killed, maimed, tortured, or abused, or content that encourages violence. “Enemies” within the context of a game cannot solely target a specific race, culture, real government, corporation, or any other real entity.
  • 1.1.3 Depictions that encourage illegal or reckless use of weapons and dangerous objects, or facilitate the purchase of firearms or ammunition.
  • 1.1.4 Overtly sexual or pornographic material, defined by Webster’s Dictionary as “explicit descriptions or displays of sexual organs or activities intended to stimulate erotic rather than aesthetic or emotional feelings.” This includes “hookup” apps that may include pornography or be used to facilitate prostitution.
  • 1.1.5 Inflammatory religious commentary or inaccurate/misleading quotations of religious texts.
  • 1.1.6 False information and features, including inaccurate device data or trick/joke functionality, such as fake location trackers. Stating that the app is “for entertainment purposes” won’t overcome this guideline. Apps that enable anonymous phone calls or SMS/MMS messaging will be rejected.
  • 1.2 User-Generated Content
    Apps with user-generated content present particular challenges, ranging from intellectual property infringement to anonymous bullying. To prevent abuse, apps with user-generated content or social networking services must include:
    • A method for filtering objectionable material from being posted to the app
    • A mechanism to report offensive content and timely responses to concerns
    • The ability to block abusive users from the service
    • Published contact information so users can easily reach you
      • Apps with user-generated content or services that end up being used primarily for pornographic content, Chatroulette-style experiences, objectification of real people (e.g. “hot-or-not” voting), making physical threats, or bullying do not belong on the Magic Store and may be removed without notice. If your app includes user-generated content from a web-based service, it may display incidental mature “NSFW” content, provided that the content is hidden by default and only displayed when the user turns it on via your website.
  • 1.3 Physical Harm
    If your app behaves in a way that risks physical harm, we may reject it. For example
    • 1.3.1 Medical apps that could provide inaccurate data or information, or that could be used for diagnosing or treating patients may be reviewed with greater scrutiny.
      • Apps must clearly disclose data and methodology to support accuracy claims relating to health measurements, and if the level of accuracy or methodology cannot be validated, we will reject your app. For example, apps that claim to take x-rays, measure blood pressure, body temperature, blood glucose levels, or blood oxygen levels using only the sensors on the device are not permitted.
      • Apps should remind users to check with a doctor in addition to using the app and before making medical decisions.
    • If your medical app has received regulatory clearance, please submit a link to that documentation with your app.
    • 1.3.2 Drug dosage calculations must come from the drug manufacturer, a hospital, university, health insurance company, pharmacy, or other approved entity, or receive approval by the FDA or one of its international counterparts. Given the potential harm to patients, we need to be sure that the app will be supported and updated over the long term.
    • 1.3.3 Apps that encourage consumption of tobacco and vape products, illegal drugs, or excessive amounts of alcohol are not permitted on the Magic Store. Apps that encourage minors to consume any of these substances will be rejected. Facilitating the sale of controlled substances (except for licensed pharmacies and licensed or otherwise legal cannabis dispensaries), or tobacco is not allowed.
    • 1.3.4 Apps may only display DUI checkpoints that are published by law enforcement agencies, and should never encourage drunk driving or other reckless behavior such as excessive speed.
  • 1.3.5 Apps should not urge customers to participate in activities (like bets, challenges, etc.) or use their devices in a way that risks physical harm to themselves or others.
  • 1.4  Developer Information
    People need to know how to reach you with questions and support issues. Make sure your app and its Support URL include an easy way to contact you; this is particularly important for apps that may be used in the classroom. Failure to include accurate and up-to-date contact information not only frustrates customers but may violate the law in some jurisdictions.
  • 1.5  Data Security
    Apps should implement appropriate security measures to ensure proper handling of user information collected pursuant and prevent its unauthorized use, disclosure, or access by third parties.
  • 1.6 Reporting Criminal Activity – Apps for reporting alleged criminal activity must involve local law enforcement, and can only be offered in countries where such involvement is active.

Validators 

community reviews

Who can become a Community Validator?

Magic Square operates as a Decentralized Autonomous Organization (DAO) with its system of community governance. Magic Square validators manage and secure the Magic Square ecosystem by voting on community decisions such as new app listings, DeFi service providers, contests, grant funding, and more.  Any member of the Magic Square Community can become a validator and earn rewards in return for helping secure the ecosystem. There are two primary types of Magic Square validators: qualified validators and standard validators.

Qualified Validators

Qualified validators earn the highest rewards for their efforts. 80% of the validator fee paid by Creators for app listing is awarded to qualified validators. This reward is distributed among up to 50 participating qualified validators in the validation process of each listed application.  

To become a qualified validator: 

  1. Pass a qualification test to demonstrate an adequate knowledge level to fill the role 
  2. Stake 5,000 SQR

Nominees

If a community member would like to stake 5,000SQR but would prefer not to participate in the validation processes, he/she can divert the qualification test to a nominee. Once the nominee passes the test, he/she can participate in the validation processes in place of the “staker” and receives a portion of the qualified validator reward. Each staker can select only one nominee per validation process.

Standard Validators

Standard validators don’t need to pass the qualification test or stake SQR tokens, and they receive a much smaller reward for their efforts. 

20% of a Creator’s validator fee is awarded to the standard validators, to be distributed among up to 200 Standard Validators per validation process.