Finding novel, high-quality DAPPs is not easy. At present, there is no encrypted application store like the App Store for users to discover interesting and potential DAPPs. Most users still need to rely on social platforms or media information to understand and experience them separately, but the scope of their coverage Limited, not centralized information, often need to switch between different platforms to obtain information.

Recently, Odaily discovered a Square's Web3 version of the App Store, which brings together various DAPPs, such as NFT, DeFi, Metaverse, GameFi, Exchanges, etc., and users can Discover and experience them in Square.

Last month, Magic Square completed a $3 million seed round, co-led by Binance Labs and Republic, with participation from KuCoin Labs, GSR, IQProtocol, Gravity Ventures, AlphaGrep, and other angel investors.

Introducing a community verification system

Magic Square has decided to harness the power of the community to take control of every project submitted to ensure that all featured apps on Magic Square are safe and meet high quality standards. Every member of the community can become a qualified validator by staking 5000 SQR tokens (Magic Square's token) and passing the validator qualification test. Qualified verifiers will be verified according to the DAPP's practicality, usage speed, experience and other indicators (each DAPP must pass the automated test to provide statistical data), and qualified verifiers can get rewards during each verification process (80% of validator funds will be allocated to qualified validators). If they fail the test, they can also nominate someone to represent them as a validator. The nominated person also needs to pass the qualification test and will receive a part of the original validator reward.

Validators will score the DAPP, and if the score is higher than 4.0, the DAPP will be automatically listed in Magic Square along with the validation report.

Integrate the use to earn mechanism into the app store

For ordinary users, they only need to download and use DAPP to get rewards. Magic Square distributes rewards daily based on users' personal rankings, ie their Karma Score. Karma Score is used to track users' Magic Square activities, including likes, comments, downloads, votes, challenges, transactions, pledges, etc. The higher the user's score, the more the community will trust them. This unique model allows users to earn SQR tokens simply by investing their time. Users with the highest monthly score will receive an additional NFT as a special reward.

secondary title

Interoperable User Experience

Magic Square achieves interoperability through cross-chain bridging, integrated DeFi services, and Magic ID, providing users with cross-blockchain and protocol capabilities.

In terms of cross-chain, Magic Square uses deBridge technology to allow users to freely switch between blockchains and protocols and transfer assets.

In terms of DeFi services, Magic Square puts community-vetted AMMs, mortgages, loans, insurance, and more built into Magic Square. In this way, users can directly access these services on the application page, and the services on the application page are directly related to the specific application, and support the application's native currency and protocol.

With Magic ID, users can connect to all encrypted applications with the click of a button, and Self-Sovereign Identity (SSI) technology enables users to control who can access their personal information, and each DAPP must request access to user information Users can revoke or grant permissions with just a swipe. This will bring more trust and convenience to the entire blockchain ecosystem.

Currently, Magic Square has opened its beta version, and any user can access it by connecting wallets (Metamask and Phantom). Users who have obtained the Beta Ⅰ whitelist can experience the use to earn function. Additionally, Beta II whitelist registration is now open and 50,000 users will be selected.

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Odaily's [New Projects] column aims to help early Web3 projects gain market exposure opportunities. If you are also a Web3 entrepreneur, please follow the official Twitter @OdailyChina, private message [seeking reports], send your project introduction and contact information, we Will communicate with you as soon as possible.