Magnetic X

#1 DEX on #XRPL | AMM | Farming | $MAG

[Magnetic X @MagneticXRPL]

Service Status Update

As you may know, Magnetic has been unavailable for the past few days. During this period, reward distribution for farming pools was also affected and did not function as intended. To compensate for the downtime, the duration of all farming pools has been extended by the exact amount of time during which the services were unavailable. All rewards will be distributed in full.

We also expect to regain access to the Memepad and Factora servers shortly and fully restore all our services.

We sincerely apologize for any inconvenience caused and greatly appreciate your patience and understanding.

[Magnetic X @MagneticXRPL]

Maintenance work on Magnetic is taking longer than expected. The delay is due to issues with the new service provider. The provider has informed us that work is still ongoing and that service restoration is expected within the next 24 hours.

We also expect to regain access to the data for Memepad and Factora soon, which will allow us to restore these services as well.

Thank you for your patience and understanding. We are doing everything we can to get Magnetic back up and running as soon as possible.

[Magnetic X @MagneticXRPL]

Magnetic has been restored and is now operating normally.

The only service that remains unavailable is Memepad. As soon as we regain access to the data, the service will be brought back online.

If your project's token has lost its icon or any associated information, please contact https://t.co/76SbEebjc6 and resend the relevant details so that we can update the token information.

We sincerely apologize for any inconvenience caused and appreciate your patience while we work to fully resolve the issue.

[Magnetic X @MagneticXRPL]

Magnetic has been restored and is now operational.
Most services are available.

However, part of the website is still not functioning. Unfortunately, we were unable to retrieve all data from the affected servers (we are hoping for their recovery soon).

The issue was caused by the shutdown of the hosting provider https://t.co/fZuoHyBD4l. We still do not have access to our servers, and the provider is referring to third-party issues.

At this time, we have successfully migrated to another provider and restored most of the platform’s functionality.

[Magnetic X @MagneticXRPL]

🟢Burning 4.4 $MAG from Dice and Crash

1% of each dice game goes to buy back and burn MAG!
Today we burned another 4.4 MAG
Transaction: https://t.co/y0FEoPaHHy

Crash: https://t.co/0lsQflYTcr

[Magnetic X @MagneticXRPL]

🟢Major NFT Update on Magnetic

1️⃣ The NFT marketplace page has been revamped:
✔️ Added “Trending collections” and “Recent sales” sections (you can now view recent sales across all marketplaces)

2️⃣ The individual NFT page now includes more detailed information on orders, transaction history, and NFT metadata

3️⃣ The NFT collection page interface has been redesigned

Broker fee on Magnetic = 0% 🔥
(On all other popular marketplaces, a fee is charged for every NFT transaction)

Check it out and start using the new, user-friendly NFT marketplace on Magnetic: https://t.co/Rielyi6m1x

P.S. Special thanks to @bithomp for fast API updates and integration support

[Magnetic X @MagneticXRPL]

Congratulations!

[Magnetic X @MagneticXRPL]

🟢Burning $MAG worth 3600$ from Dice and Crash

1% of each dice game goes to buy back and burn MAG!
Today we burned another 3.66 MAG (~3,600$)
Transaction: https://t.co/zI8jTsO6ca

Crash: https://t.co/0lsQflYTcr

[Magnetic X @MagneticXRPL]

There were technical issues on Magnetic over the past few hours. All issues have now been resolved, and the website is operating normally.

[Magnetic X @MagneticXRPL]

🟢 30-day statistics for dApps on XRPL

Magnetic is leading by a wide margin:
Volume — over 5.4 million XRP
More than 5,600 unique users who signed at least one transaction

XRPL Radar: https://t.co/REIVDLwdJ0

[Magnetic X @MagneticXRPL]

🟢 The number of farming pools on Magnetic has increased to 65 and continues to grow!

Recently, the number of pools has risen significantly, and now you can farm almost any token.
If you have your own token, you can create a farming pool in just a few clicks.

Magnetic Farming: https://t.co/3iXKII0OAJ

[Magnetic X @MagneticXRPL]

🟢 Farming pools are now available for everyone!
Following numerous requests from the community, we have lowered the entry threshold for farming for all projects.

🔥 New conditions for creating a farming pool:
Liquidity >25 XRP(instead of 500)
More than 10 trust lines(instead of 100)
Daily reward starting from 1 XRP(instead of 10)

Create a farming pool: https://t.co/66pTSqqzN0

[Magnetic X @MagneticXRPL]

Day 50/50:
Buy tx : https://t.co/yaS4mjODTy
Burn tx: https://t.co/8AVeftFA4M

[Magnetic X @MagneticXRPL]

🟢The stabilization plan is complete.
We have successfully bought back and burned approximately ~30 $MAG for $50,000.

The price has stabilized, and farming rewards have been reduced to an optimal level.

[Magnetic X @MagneticXRPL]

Buy tx: https://t.co/8xZpMjw3ww
Burn tx: https://t.co/5KTKKTUuft

[Magnetic X @MagneticXRPL]

🚀 Stabilization plan: 49/50 day

✔️ $MAG was bought and burned for $1000
✔️ The farming rewards has been reduced by 0.01

[Magnetic X @MagneticXRPL]

Buy tx: https://t.co/6HgH4K7hQa
Burn tx: https://t.co/F5LTIkffjD

[Magnetic X @MagneticXRPL]

🚀 Stabilization plan: 48/50 day

✔️ $MAG was bought and burned for $1000
✔️ The farming rewards has been reduced by 0.01

[Magnetic X @MagneticXRPL]

Buy tx: https://t.co/3iS3gpQg4z
Burn tx: https://t.co/OD0OaPotcS

[Magnetic X @MagneticXRPL]

🚀 Stabilization plan: 47/50 day

✔️ $MAG was bought and burned for $1000
✔️ The farming rewards has been reduced by 0.01

Total $MAG buy-back and burning: ~29 $MAG