The SQR token powers all aspects of the Magic Square ecosystem and allows for the seamless integration of users, developers, and validators. SQR can be used for various utilities within the ecosystem including governance, user access packages, app advertisement, and app referral rewards. SQR can also be traded on DEX and CEX for other currencies or fiat.
Governance - In order to manage the Magic Store in the true spirit of Web3.0, we have implemented an on-chain voting model using Community Validators to determine which apps to feature.
User Packages - To unleash the full potential of the Magic Store, users need to stake SQR tokens. There are three Staking Tiers available to users:
Unlimited downloads to Spaces
Use to Earn
Magic Karma Score > 5000
25% boost of daily rating early access to all events, exclusive contests, etc.