What is Magpie Protocol?

What is Magpie?

Magpie is a state-of-the-art protocol that offers fast, easy, & secure cross-chain and on-chain token swaps. The user experience and capability of Magpie Protocol makes it a valuable addition to the DeFi space.

Magpie Protocol's mission is that of building a cross-chain infrastructure and protocol that offers a simple, efficient, and secure way to trade and invest within DeFi, pushing forward a future in which DeFi will be the future of finance. As we help further the development of DeFi, that means fostering a workplace culture that encourages out-of-the-box thinking, great ideas, having a good time, hard work, self development, and sharing a love for all things DeFi.

How does Magpie work?

Magpie swaps your assets into a bridge liquidity pool on one chain and then uses the multi-chain messaging layer, or data transfer layer, to send a swap signal with near-instant finality to the destination chain. Once this is verified, your assets are swapped out of the bridge liquidity pool on the destination chain for the requested asset. While this is normally a multi-step process in which you would have to visit multiple websites, dApps, and DEXs, then approve and complete many swaps, Magpie simplifies all of this, and enables you to cross-chain swap in just a few clicks. You simply choose the pair and chain(s) of your choice between which you’d like to swap tokens, you will be provided with the best offer, and then you click swap.