- 1 Magic Shoes rewards users for moving, literally.
- 2 Any user with MagicShoes NFTs can benefit from walking, running, and cycling.
Magic Shoes is a Web3 lifestyle app that can be used while walking, running, or riding a bicycle to earn token-equipped Magic Shoes NFT sneakers in the app. The sneakers are unique in design and rarity. To make the sneakers more powerful it can be upgraded.
It is a move-to-earn app – every time the user walks, runs, or goes biking, the user is awarded. The magic box is awarded depending on the exercise time. It tracks activity with the help of GPS and Google Maps. The magic shoes NFTs can be purchased and sold on the marketplace and apps.
Details of Magic Shoes App
MCT is the Magic Club Token which is a governance token. To earn Magic Club Points, the users have to turn on the app and walk, run, and cycle. Based on the Mcp Points earned, the users are rewarded with MCT coins.
All the projects within Magic Club are interconnected through the utility token called Magic Club Token (MCT). The direction of Magic Club will be determined through DAO governance.
The magic club marketplace utilizes reward points to measure reward points to measure user contributions within the ecosystem and offers weekly rewards in the form of Magic Shoes Token (MCT).
The user contribution on the platform is decided by two types of pools. They are a transactional pool and a social activity pool.
The buying and selling of NFTs is the most important thing in the Marketplace. The rewards are allocated to both buyers and sellers based on the transaction volume proportional to the amount involved in the transactions.
Social Activity Pool
The social activity pool increases community engagement. To enhance it, the following reward points are given:
Referrals: 25 points
Minting: 3 points
Likes: 1 point
Comments: 1 point
Magic Shoes Token and its Allocation
Magic Shoes Token (MCT) serves as the universal token within the ecosystem. The user’s contribution on the platform is measured with the pool and then converted into MCP which can later be exchanged for MCT as rewards.
Magic Shoes Token is a governance token. Once the DAO is established users can use MCT to propose suggestions and have voting rights equal to the MCT holdings.
The users can make payments on the platform using MCT. It is used to buy NFT from the marketplace. MCT can be connected to projects with partner companies. The token aims to reach a sustainable ecosystem with scalability.
Mining Pool (60%)
The total supply of the Magic Shoes Token is 6,000,000,000 and there will be no additional issuance. Within the Magic ecosystem, the user can earn MCP by contributing to various activities. MCT will be awarded to the users in proportion to their MCP holdings. Over 10 years, a weekly distribution will take place, accounting for 60% of the total supply.
The token mining for MCT will continue for 520 weeks. Every Sunday, a certain amount of tokens is distributed among users. To prevent ecosystem manipulation, the Magic Club team will establish policies. The decision-making authority regarding the maintenance of the ecosystem will be transferred to the DAO in the future. This will allow democratic decision-making.
Airdrop and Marketing Pool (10%)
This pool is used for users regarding NFT holders. There are 600,000,000 tokens vesting for 52 weeks.
Reserve Pool (12%)
This is the reserve pool used to support the ecosystem for expansion and stability. The quantity of tokens is 720,000,000. The vesting is 104 weeks.
Operational Pool (7%)
This pool is used for operational expenses like the development, maintenance, and upkeep of the Magic Club ecosystem. They have a total quantity of 420,000,000. The Vesting is 156 weeks.
Team and Partner Pool (7%)
This pool supports the team and the investors. The total quantity of the tokens is 420,000,000. The vesting is 156 weeks.
Investor Pool (3%)
This pool is dedicated to investors. The quantity is 180,000,000. The lock up is 26 weeks and vesting is 52 weeks.
Initial Supply Pool (1%)
This pool is allocated for conducting beta testing of the Magic Club Marketplace. During the beta testing period, a portion of the tokens from the initial supply pool will be distributed for testing purposes. The quantity of the token is 60,000,000.
Magic Club’s Ecosystem
The Magic Club consists of Magic Club NFT Marketplace, and Magic Shoes (M2E). Ethereum and Polygon are the main chains within the Magic Club NFT. The main blockchains for magic shoes are Polygon and Avalanche.
All the projects within the Magic Club are connected through the utility token called the Magic Club Token (MCT). The direction of the Magic Club is determined through DAO governance.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.