My Magi Network tryout

Hello Hivians!

We are gathered here today to be trying out [link url="https://altera.magi.eco/"]https://altera.magi.eco/[/link], created by @magi.network - a service that allow native swaps from Hive to Magi itself or to the Bitcoin blockchain.

Todays focus is Hive/Magi.

[b]Without further ado, let's get into it![/b]

[h2]First impression[/h2]
[img url=""]

Upon first login, everything seems pretty organized and straight up.

[b]What caught my eye?[/b]

That was the [i]Witness Assistant![/i] Why? Not quite sure why that was it, but it was.

It is worth noting that I have done no research prior to trying out the service as I like to learn by doing.

[img url=""]I have absolutely no clue what that actually is, but I deposited 30 HIVE into it and will see what happens with it.

[h2]Further tryout[/h2]
I deposited HIVE and HBD to see how this would work and what it would do.

The HIVE didn't really do much. I guess it just makes it possible to stake into Witness Assistant, and also perform swaps directly from Magi.

The HBD increased my [b]Magi Resource Credits[/b]. These are used to perform actions on Magi. 1 HBD = 1 MRC.

[img url=""]If we compare the MRC from the first image with the image above, we clearly see that:

1. MRC has increased by the same amount as HBD
2. MRC is not at 100% since I've performed actions on the service.
   This means we can perform more actions if we have more HBD on the Magi Network.

[h2]Staking HBD on Magi[/h2]
This is, for most people I guess, straight forward. You click on [i]Staking[/i] right in the middle of the page.

For me, this isn't logical. It should, in my opinion, be located with the Deposit and Withdraw actions.

When staking, you can choose "First Deposit HBD into VSC" (which should probably be changed to the new Magi name too).

[img url=""]This is, for me at least, checked by default and seems to mean "stake from Hive L1" instead of "stake from Magi". Uncheck it, and you stake from Magi.

When staking directly from Magi, it will remove some of your MRC, if you stake HBD. I'm unsure whether this is intentional or not.

We clearly see it here:

[img url=""][img url=""]Notice how 1 HBD moved into sHBD removed 1 MRC too.

[h1]Conclusion[/h1]
The @magi.network is definitely building something useful to the entire crypto space.

With the right marketing strategy and a proper reach, it will change how crypto currency is transferred, swapped and maybe even stored.

[b]Well done, team![/b]

[b]Thank you for reading[/b]

Images are screenshots from my use of the website [link url="https://altera.magi.eco/"]https://altera.magi.eco/[/link]

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