Magik Finance token is on a surge for the past 24 hours leading to a worldwide trend in the cryptocurrency world. It is one of the fastest rising coin in the digital currency terrain, which a lot of investors have singled for research. Most often, these tokens are usually weak to invest hugely on, as a result, a lot of money have been gained and also lost depending on the legitimacy of the project. This review will guide you and explain Magik Finance in a way you will understand.
For those that lost out when Bitcoin, Ethereum, Dogecoin all had a quick run up, you will want to learn more about this token for FOMO. On this article, we will review Magik Finance by explaining what the coin is about, listing the pros and cons, the supply and how legit/safe the token is for investors.
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About Magik Finance
What is Magik Finance?
The $MAGIK’S algorithmic token serves as the backbone of a rapidly growing ecosystem aimed towards bringing liquidity and new use cases to the Opera network.
The protocol’s underlying mechanism dynamically adjusts $MAGIK’s supply, pushing its price up or down relative to the price of Fantom $FTM.
Inspired by the original idea behind Basis as well as its predecessors (Tomb and soup), Magik.finance is a multi-token protocol which consists of the following three tokens:
- Magik ($MAGIK).
- Magik Shares ($MSHARE)
- Magik Bonds ($MBOND).
Magik Finance Supply
There are 113,922.00 MAGIK in supply.
Pros and Cons of Magik Finance
Pros of Magik Finance
- There is a surge in the market price currently
- Project whitepaper available
- Contract on Binance Smart Chain
- They are fully decentralized
- A lot of investors are ‘flocking’ to invest
- It is listed on coinmarketcap
Cons of Magik Finance
- The coin is still under research and development
- Multiple issues with its synchronizations between ledgers
- Not listed on exchanges
- No Github profile
- They have no reddit acount
- No Bitcointalk thread created
- No traceable features on tradingview
Is Magik Finance Legit or Scam?
A cryptocurrency project requires you to part with your hard earned cash in order for you to become successful. You expect some level of transparency and professionalism from a project or the team that is asking for your money.
According to research and reviews, Magik Finance have a very weak back up for the token they produce. Their public profiles are vague therefore making it difficult to determine their level of transparency.
Is Magik Finance Safe?
Being willing to invest in the token is a question entirely up to you to answer. The token with a weak backup, will likely succeed or not depending on whether the project team puts in an effort to sustain the project.
Make personal research on the coin, visit coin’s official website.
Follow our blog to learn about coin legitimacy. You can share your thoughts and experiences about Magik Finance on the comment section below. Don’t forget to rate and leave a review.