Why use a bridge when you can FLY

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.

Magpie is solving a couple of major issues in DeFi: bridging and liquidity aggregation issues.Within these two areas that need fixing, Magpie focuses on speed, security, ease-of-use, gas fees, user experience, and aggregation.

The easiest and simplest way to describe how Magpie Protocol solves the above issues is that we facilitate cross-chain swaps without bridging. Magpie accomplishes this by sending messages using the generic messaging layer on bridges to initiate a swap cross-chain.Rather than requiring users to lock or burn tokens and then mint them on the destination chain, Magpie uses stablecoin liquidity pools and the Magpie liquidity aggregation protocol, both deployed on all of the most popular chains, to initiate swaps for the desired token. This results in users receiving their tokens very quickly, for much less gas, not being limited to swapping stablecoins or the chain's native gas token, all using a super slick UI in which users don’t need to use any other dAPPs in the process.

While Magpie is similar to liquidity aggregation and cross-chain swap protocols like 0x, Paraswap and 1inch to name a few, we have many advantages that we believe put us ahead. One of the big advantages with Magpie is when a user cross-chain swaps, they don’t need to go to the appropriate bridge to take the fifteen minute to three hour process of transferring their tokens to the new chain to only then be able to initiate the swap on the new chain. Tests show that Magpie's unique liquidity aggregator consistently outperforms 0x and offers prices competitive with 1inch; but with the added benefit of simple cross-chain swaps that don't required you to bridge your assets. As Magpie doesn’t bridge assets, it is much more secure than other bridges as there are no assets stored within bridge smart contracts to be exploited. At launch, Magpie is compatible with many of the top ten blockchains and allows users to swap any token asset with any other token asset on the destination chain. Users are not limited to stablecoins or just what the bridge has in the liquidity pool. The user experience with Magpie is unrivaled.

Magpie is chain-agnostic, meaning that it is compatible with any chain. At launch, Magpie supports Ethereum, Polygon, Avalanche and BSC. More chains will then progressively be added.

Yes, Magpie’s token will be FLY.

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

Magpie is currently backed by Jump Crypto, Parafi Capital, Big Brain Holdings, Double Peak, Sandeep Nailwal, Republic Capital, Serafund, 6k, Stacker VC, MH Ventures, Faculty Group, Arkstream, D1, Apollo and GSR.