Magpie Fast and Easy Cross-Chain Swap

Published on: 22.08.2022

Magpie fast and easy cross-chain swap. Magpie Protocol is a decentralized, liquidity aggregation protocol for cross-chain swaps. It provides the best deal on any asset, across the top blockchains, all without the need to bridge any assets. The end result is an extremely fast and gas-efficient solution to cross-chain swaps.

Furthermore, Magpie’s mission is to empower users of all levels by building a cross-chain infrastructure service that offers a simple, efficient, and secure way to trade, invest, and transact within DeFi.

Magpie protocol is a cross-chain liquidity aggregator that enables seamless cross-chain swaps with near-instant finality and cost efficiency on many of the top blockchains, all without the need to bridge any assets, making for an extremely fast, secure, easy, and gas-efficient solution.

The protocol incorporates a unique technical implementation that allows the execution of cross-chain swaps without the need for the user to bridge assets from any of the top bridges. This saves time and cost by reducing the complexity and security risks involved in using any of the bridging solutions to move assets across chains.

Compared to other options in DeFi, when a user swaps using Magpie, they don’t need to go to the corresponding bridge, learn how to use it, spend a bunch of gas on transfers and time waiting, only to then have to go back to the DEX to make a swap. While in some ways similar to 0x, Paraswap, and 1inch, the advantage of Magpie comes in its user experience, security, ease of use, and speed, all while providing users with the best prices on tokens both within-chain and cross-chain.

Major Benefits of Magpie Protocol

Magpie’s chain agnostic nature does not limit it to 0x or other such protocols and can be deployed to and used to bridge any network to another. Magpie is scalable using a smart algorithm and a low-cost backend system. Resulting in incredibly efficient swaps based on a Wormhole-based cross-chain communication and value swap module. This results in lower fees (just one swap fee), lower gas, low slippage, and faster transactions (2-block finality).

The platform has an incredibly slick user interface that abstracts away all of the
complexities of using traditional bridges and multiple AMMs. It’s as simple as selecting the current chain, token pair, destination chain, and then swapping.

Magpie’s unique selling point is that it uses bridges to facilitate communication between chains, rather than actually swapping, burning, or minting tokens, instructing relayers to initiate swaps on AMMs on the destination chain, which in turn allows anyone to
complete a cross-chain swap without utilizing bridge liquidity.

Trade Crypto Assets Seamlessly

Magpie Protocol only uses bridges to communicate swap signals between chains, creating an unrivaled user experience.

FAST — innovative design requires fewer transactions and confirmations.
SECURE — Magpie is fully non-custodial. Your assets are in your control at all times.
EASY TO USE — Swap with speed between any chain of your choosing.

Trade your tokens swiftly in a few clicks. Find 4 chains available at the start – Ethereum, Polygon, and Binance.

FLY will work as a governance token and liquidity token. The fees will be redistributed amongst liquidity providers, FLY stakers, and operation funds.