MAGMA Buyback Protocol

The Magma team will implement an exclusive buyback protocol for investors. MAGMA will be bought back from the pool at a fixed exchange rate regardless of the current market price.

How it works

MAGMA investors participate by "applying" their MAGMA in the buyback pool. They cannot remove their MAGMA for the duration of the lock-up period (or "round").

After each lock-up period ends, a total buyback amount is decided on. Applications will be selected at random and the amount of MAGMAs they have applied for in the application will be bought back at $__ per MAGMA. BUSD will then be made available to withdraw. Random selection is based on the number of applications made (one wallet with 10 applications has 10 odds to be selected).

If the selected application has applied less than the round's total buy-back amount, the smart-contract randomly selects another wallet for the buy-back. This repeats until the buyback amount is complete.

If the selected application has applied more than the round's buy-back amount, only the maximum buyback amount will be bought back and the remaining MAGMA is returned to the wallet. The round ends.

To Participate

• Deposit the amount of MAGMA you want to buy back

• If you are selected for the round, your MAGMA will be exchanged for BUSD at the fixed rate. The amount you have earned from the buyback on the ‘Rewarded’ section. You can withdraw anytime and enjoy high ROI on MAGMA

• If you were not selected for the round, you can ‘Re-apply’ or ‘Withdraw’ your MAGMA

• There will be a deposit fee on top of transfer tax

This feature is expected to roll out around end of July. More details will be announced closer to the launch.