Magicland is an emerging multichain sustainable decentralized one-stop DeFI portal that offers yield farming, yield optimizer, and many other DeFI products. Magicland has operated on Arbitrium and IoTeX for 1month++.
Magicland’s focus is to provide a comprehensive DeFI experience for new users on emerging chains to become the most magical DeFI place on emerging chains.
The team has KYCed with MCN(decentralized investment DAO). The Magicland team has demonstrated a successful operating track on both Arbitrum ($12M++, achieved highest $100M++ TVL) and IoTeX ($5M++, achieved highest $8M TVL). The Magicland is reviewed by Rugdoc, MCN as well as audited by Paladin.
Differentiators
1/ Proven successful track for operating DeFI protocol (the first yield farm/optimizer dapp listed on the official Arbitrum project listing, DaPPradar, IoTeXprojects, coingecko, coinmarketcap, DeFIlamma, etc)
2/ Deeply integrated with MCN DeFI Legos (Hundred-lending protocol, xDollar-stablecoin lending protocol, MinMax - stableswap AMM, and upcoming dapp projects)
The team is ready to deploy Magicland DeFI protocol on Harmony One once the grant proposal is approved. The team requests a $50K launch grant which will be used for dev, marketing, and $ONE farming incentive to Magicland users on Harmony One.
Thank you for the proposal. You provided some great information regarding your project and it looks like it is doing really well.
So, it SOUNDS like this project is a “Port”, with that in mind, let’s look at the parameters of a port grant:
100 Ports ($20M). Recipients of each grant for porting must have achieved product-market fit. Harmony helps scale these thriving projects to our mainnet. We recommend $50-250K each over 4-8 weeks, on projects already with active 10K users, and engaging their teams in public forums. Prime areas of market growths are Play-to-Earn games, musician fan clubs, investment DAOs, portfolio dashboards, and event and collectible curators.
So, a few areas to point to right now.
First, we really like to see projects that have 10K+ active users. What I can tell from your links you have roughly 8K twitter followers and about 800+ members of your discord. I wasn’t able to tell how many active wallets you have connected to your project. Can you provide that information?
Second, We love seeing projects that are engaging with their users in public forums. It’s great you have a discord and it’s great you have a good twitter following. The only thing that gives me a bit of pause on this is the discord is rather small.
On the other hand - you are only asking for a $50K grant, so the threshold requirements are not as high as a larger grant would be.
Let me know about your total active wallets and - if you can - provide some additional information regarding how the $50K would be used. (I understand that you will be using it for Devs, Marketing and incentives… break it out and break it down, if you will.)
Hi Sam! Thank you for your response and feedback. The reason we didn’t apply for 100 Ports is that we are not meeting 10K active users requirement at the moment. We are confident that we will once Magicland land on Harmony One. That’s why we are applying for 50K launches grant first to welcome more users onboard on Harmony One.
1/ Combining both Magicland users on Arbitrum and IoTeX, we have about 5000 active wallets interacting with our dapps for yield farming, multi-reward farm staking, and yield optimizer products. https://debank.com/projects/arb_magicland 1600++ users Token Tracker | iotexscan 3300++ wallet holders
2/ From our user data analysis, our users are mainly from Europe and Asia countries which are mostly active on Telegram and less friendly with Discord. We personally love Discord for how we can organize the channels and communicate with our community members closely without much spammers on Telegram. The interaction on our Magicland discord has better atmosphere where active ongoing discussions are happening among community members to suggest ways to improve Magicland. If that is concerned, we may consider to create an official telegram user groups.
3/ We will use $50K grant for the following three items:
a) marketing campaign for promoting Magicland’s Harmony deployment during the launch - $5,000
b) product development for launching yield farming, multi-reward farm and customized strategy vaults - $15,000
c) Magicland 1MAGIC LP staking incentive in ONE token rewards received in combination with our 1MAGIC reward emission - $30,000
I hope this clarifies. Please don’t hesitate to ask for clarifications.
Hi Sam! Thank you for your response and feedback. The reason we didn’t apply for 100 Ports is that we are not meeting 10K active users requirement at the moment. We are confident that we will once Magicland land on Harmony One. That’s why we are applying for a $50K launches grant first to welcome more users onboard on Harmony One.
1/ Combining both Magicland users on Arbitrum and IoTeX, we have about 5000 active wallets interacting with our dapps for yield farming, multi-reward farm staking, and yield optimizer products. DeBank | DeFi Wallet for Ethereum Users 1600++ users Token Tracker | iotexscan 3300++ wallet holders
2/ From our user data analysis, our users are mainly from Europe and Asia countries which are mostly active on Telegram and less friendly with Discord. We personally love Discord for how we can organize the channels and communicate with our community members closely without many spammers on Telegram. The interaction on our Magicland discord has a better atmosphere where active ongoing discussions are happening among community members to suggest ways to improve Magicland. If that is concerned, we may consider creating an official telegram user group.
3/ We will use a $50K grant for the following three items:
a) marketing campaign for promoting Magicland’s Harmony deployment during the launch - $5,000
b) product development for launching yield farming, multi-reward farm, and customized strategy vaults - $15,000
c) Magicland 1MAGIC LP staking incentive in ONE token reward received in combination with our 1MAGIC reward emission - $30,000
I hope this clarifies. Please don’t hesitate to ask for clarifications.
Looking at your proposed usage, I am working on finding the best model that fits within our grant program.
Currently, if you view harmony.one/apply, you can find this language regarding a retroactive grant.
For projects already live on Harmony Mainnet, Harmony’s Launch Grant can boost tractions with $50K retroactive funding: $10K forming a DAO like above, then four additional $10K grants each to double the key user metrics. Otherwise, for early projects, we have:
This would enable you to utilize your grant funds after certain milestones are reached.
Additionally, we would ask that you refrain from launching on any other chains for a period of 3 months after launching on Harmony.
We just learnt that Magicland was on latest cohort that received the grant from the twitter. Thank you for the approval. I believe that this retroactive grant is for projects already live on Harmony Mainnet. To recap, Magicland is not yet launched on Harmony One but live on Arbitrum and IoTeX. Please let us know if that 3 months refrain still applies to a project not launched on Harmony One. We are ready to deploy with other MCN DeFI ecosystem legos.
Hey @0xmagicland - Apologies for not getting back to you sooner. Been a touch busy, as you can imagine.
We have had several conversations about just what are the milestones we are interested in seeing to show that you have good traction with the community before paying out the grant. In that interest, we have issued some more guidelines to clarify. This is from harmony.one/apply:
We recommend a $50K equity-free contribution each:
$10K after launching a feature-complete product on our testnet,
$10K after forming a DAO with 5-out-of-9 multisig with our DAOs,
$10K after launching on our mainnet with audit,
$10K after 1K daily active users (with launch video, full PR promotion),
$10K after 10k daily active users (with a detailed roadmap, governance process).
Moreover, we recommend a 5-out-9 multisig account on Gnosis Safe with 3 governors from the project team, 3 governors from the project community, and 3 governors from Harmony DAOs – namely, ONEcommunityDAO, ONEdeveloperDAO, ONEincubatorDAO.
In all cases, we ask for 3-month exclusive campaigns with Harmony before more porting with other chains. We also offer follow-on investments – see 50 Investments ($20M) above; but, at the moment, you must have an outside, lead investor for us to match the funding terms. All codes, development materials and production assets must be fully open, preferably with MIT or BSD licences; weekly updates must on sent on forum; and, all server deploys or mobile apps must be easily clonable.
The take-away is that, yes, we ask that you focus on your Harmony launch for 3 months before you launch on another chain. Is that something you are willing to accept?
Looking forward to seeing this project on Harmony!
