Magic Protocol

Swap Bitcoin to xBTC on Stacks. Decentralized, trustless, open-source. ✨

[Magic Protocol @magicstx]

✦ Magic is live on mainet! Magic is a protocol for atomic swaps between BTC and xBTC on @Stacks. Magic is open-source, on-chain, decentralized, and trustless. Here is a quick video showing 1 BTC → xBTC → BTC on mainnet ✨

[stacks.btc @Stacks]

⭐ $BTC 🤝 $xBTC ⭐

New: @magicstx announces first xBTC mainnet front end & $50K liquidity supply for swapping $BTC to xBTC

👉 Magic Bridge allows Bitcoin holders to move $BTC to the L2 & enables apps to offer a native Bitcoin on-ramp

What this means for Stacks 👇 (1/5)

[Magic Protocol @magicstx]

Try it yourself 👇

https://t.co/FzaVpVJIUx

More information about Magic ✨

https://t.co/RDEt8hRJSP

Here is the Bitswap announcement 📣

https://t.co/DEjEgRK19Z

[Hassan Baig @baigi]

Excited to announce $50K liquidity supply for #MagicProtocol to enable BTC → xBTC swapping on @Stacks. Experience it now on the mainnet frontend at https://t.co/mHp1cfqSxF. For help, visit: https://t.co/DfKTjLGRXX Let's go! @magicstx 🚀

[Magic Protocol @magicstx]

📣 First native on-ramp for Bitcoin on @Stacks!

The Magic Protocol allows Bitcoin L2 apps on @stacks to onboard Bitcoin L1 liquidity, tapping into Bitcoin's $500 billion market cap.

Bitswap (Magic front end) has just launched and has added $50k in liquidity.

[Magic Protocol @magicstx]

Ready to swap?

- Visit https://t.co/vHrBD4LZvG

- Enter the amount of BTC to swap

- Bitswap will match your swap with a specific supplier

- Magic derives a deposit address for the atomic swap

- Wait for a couple txns

- You receive xBTC and supplier receives BTC

[Hassan Baig @baigi]

Excited to announce $50K liquidity supply for #MagicProtocol to enable BTC → xBTC swapping on @Stacks. Experience it now on the mainnet frontend at https://t.co/mHp1cfqSxF. For help, visit: https://t.co/DfKTjLGRXX Let's go! @magicstx 🚀

[Magic Protocol @magicstx]

Nice. Very helpful 🤝

[Least Authority @LeastAuthority]

Our team recently completed a #securityaudit of @magicstx. You can review the full report and our findings here: https://t.co/fpA8rirXW7 #BTC #MagicProtocol

[Magic Protocol @magicstx]

@markymark 🧙‍♂️ Sweeeeeet

[Magic Protocol @magicstx]

"I want this before Sunday"

"I can't wait to see this born!"

"Is it weird if I send emoji kisses?"

"Can’t wait 🔥🔥🔥🤟"

"We will be integrating the Magic protocol"

Ty @stacks community for all the ❤️

More on Magic here: https://t.co/4hERCLU7rC

[Magic Protocol @magicstx]

✦ Magic is live on mainet! Magic is a protocol for atomic swaps between BTC and xBTC on @Stacks. Magic is open-source, on-chain, decentralized, and trustless. Here is a quick video showing 1 BTC → xBTC → BTC on mainnet ✨

[Magic Protocol @magicstx]

Gm. Have you heard about Magic anon? 🧙‍♂️

"Magic Bridge looks incredible"

"Bombshell product"

"This would be a game-changer"

”A big step for Bitcoin”

"Amazing. This is what I was waiting for"

"Love what you guys are building with magic"

[Magic Protocol @magicstx]

"Would love to work together to enable bitcoin DAOs"

"Hyped for this"

"I don't understand much, but it sounds good!"

"Welcome aboard. Atomic swaps ftw."

“This is a huge deal for Bitcoin-Stacks”

"Can’t wait to try this and tell folks about the experience"

[Magic Protocol @magicstx]

Want to use Magic in your favorite Stacks app? Want the capacity to increase? We do too! Tell the app team to integrate magic and host a supplier. More details can be found here: https://t.co/lvyp05Mghg

[Magic Protocol @magicstx]

✦ The Magic protocol is live on Stacks mainnet! Here is the contract showing swaps of mainnet BTC to mainnet xBTC. Most of the activity so far still looks like testing: https://t.co/2vQ0CYRAlo

[Magic Protocol @magicstx]

Some quick stats ✨

Total volume: 5.201255 BTC
Total inbound: 3.101 BTC
Total outbound: 2.100255 BTC
Total fees: 0.00455973 BTC
Average fee: 0.00045597 BTC
Average fee %: 0.088
Total swaps: 10

[Magic Protocol @magicstx]

The xBTC → BTC swap took ~5 mins:

➡️ https://t.co/BVWi3I1k9E

⬅️ https://t.co/zR1epfwmaG

Total fees for both swaps were 0.00021999 BTC or about -0.002%

Spell complete ✨

[Magic Protocol @magicstx]

✦ Magic is live on mainet! Magic is a protocol for atomic swaps between BTC and xBTC on @Stacks. Magic is open-source, on-chain, decentralized, and trustless. Here is a quick video showing 1 BTC → xBTC → BTC on mainnet ✨

[Magic Protocol @magicstx]

P.S. Ohhh you want proof of magic?

The BTC → xBTC swap in the video took ~13 mins:

➡️ https://t.co/o19t10xdc6

⬅️ https://t.co/KPBJk1EIMO