Magpie Protocol

Magpie Protocol - An Introduction

Over the last year and a half, crypto has seen the TVL (Total Value Locked) on blockchains go from less than $1 billion to over $180 billion at its peak. ETH began with a 99% stranglehold of all TVL, going down to 55% at its lowest and 65% as of June 15th of 2022. As liquidity pours into alternate layer 1 and 2 chains, there is an ever-growing necessity for efficient, secure, and simple cross-chain swaps.
Seeing what other projects have contributed to the cross-chain DeFi space, Magpie wanted to go a step further in terms of ease of use, efficiency, security, and token options.
There is a lot of great work being done by amazing teams in crypto, and we’re all in this space together to make DeFi the future of finance.
Migrating assets on most bridges can be frustrating because most bridges are ecosystem-dependent, inefficient, slow, and can be difficult to use or even find as a new user. Many bridges are also too reliant on a single point of failure when assets are centralized, making for an insecure platform.
But Magpies don’t migrate, and neither do assets on the Magpie Protocol.
Magpie is a cross-chain swap protocol that only uses bridges to communicate swap signals between chains. It is fast, secure, and chain agnostic, offering a super-slick and unrivalled user experience.
Last modified 1mo ago