Creators can use SDK tools to enhance their development process in every possible way. The set will include but not be limited to the following list of essential tools:
Payment System with Subscription Model - Accept one-time or subscription payments within your app.
Wallet - Magic Square provides an infrastructure to integrate all the common wallets under one hood for the user’s convenience.
Trading Data Aggregation - Connection to more than 20 exchanges via a single API with access to historical data.
On-Chain Data - Access data across blockchains to track blockchain money flow that can be used for enhancing crypto compliance or surveillance solutions.
SSI (Self-Sovereign Identity) - One-click login to all crypto apps and services while the user decides which data to share.
Staking of tokens and NFTs - In-app comprehensive solution of multi-chain staking, both for tokens and NFTs.
AMM - Get access to all available DEXs Automated Market Making solutions directly from your app via customizable UI.
Community Management Tools - Interact with Magic Community directly from your app to create polls, events, or challenges.
Today there is an emerging market of DeFi services that can assist creators in managing their liquidity and allowing users to get more utility from the digital assets like access to custody services or getting an instant loan. Inside the Magic Store under each app page will appear hot buttons that will represent popular DeFi solutions:
Staking for NFTs or tokens
Automated Market-Making pools
Insurance and reinsurance
Any 3rd-party provider can apply to add their solution to one of the categories. Depending on the community vote, their solution will be added to the catalog of services that each creator can add as hot buttons on their app page. With Bundles, creators can more efficiently engage with their target audience and manage their liquidity through in-store direct interaction. With a higher rate of DeFi adoption by the users, creators will get loyal clients, while DeFi developers will increase their popularity and market penetration. For each transaction with a 3rd-party solution via the Bundle module, Magic Square will charge payment based on transaction cost charged by the 3rd-party and share this revenue with the app creator. Even free-to-own apps can earn money using Bundles through their apps page.
Decentralization is one of the biggest challenges for the crypto industry. We see a declaration of decentralization all over, but there are not many truly decentralized solutions. The first version of the Magic SDK will mostly be centralized to adapt itself to the needs of the creators and increase market penetration without any barriers. But the next version of the Magic SDK will allow creators two options:
to choose fully decentralized tools that will support their decentralization concept or
to keep using centralized tools.
We believe that down the road, when the on-chain transaction costs will become an insignificant parameter, more and more creators will choose the decentralized approach.