Magic price

Been meaning to dive into Reown’s 2025 *State of Onchain UX* report for a minute, and finally did. It’s long. It’s data-rich. It’s got great charts. And while I vibe with a bunch of it, there are some claims I can’t quite get behind without raising a brow. Here’s the breakdown of what stood out (and what didn’t) 👇 🧵 TL; DR: Reown teamed up with Nansen and YouGov to map out the state of the onchain user experience across wallets, apps, chains, and behaviors. The survey includes over 1,000 active crypto users (mostly from the US and UK), spanning all experience levels—from fresh Newbies to onchain Veterans. They merged this qualitative feedback with @reown_ + @WalletConnect connection data and @nansen_ai’s wallet analytics to surface macro trends around wallet usage, adoption, pain points, and what users think is coming next. Here's what I liked 👇 1. The Multi-Wallet Reality Is Real Nearly 62% of users reported using more than one wallet, and the main culprit was obvious, interoperability issues. Makes sense. Today’s multichain jungle forces us to use different wallets for different chains. Binance Smart Chain? Probably Trust. EVMs? Likely MetaMask. Solana? Phantom or Backpack. Add gaming and NFTs into the mix and the stack gets messy AF... and fast. 2. Mobile Wallets Still Dominate, But Hardware Is Back Mobile remains the preferred form factor, but there’s an uptick in hardware wallet interest, especially from older users and security-focused personas like Farmers and Socialites. This echoes what we’ve been seeing: rising phishing attacks (21% of users hit) and the general uptick in onchain risk are nudging people to secure long-term capital better. 3. Wallet Brand Consolidation Is Inevitable The more experienced a user is, the more likely they are to consolidate around a handful of brands, Binance, Coinbase Wallet, Trust, MetaMask. It’s a sign of maturity and risk aversion, but also tells us wallet switching is real early in a user’s lifecycle. 4. Appchains, Base, and Specialization The report’s analysis on chain specialization is spot-on. Ethereum is still the settlement layer, Solana is eating high-frequency trading, Base is becoming the app lab, and BNB Chain is the centralized highway. Users aren’t really thinking in terms of “which L1 is best” anymore, they’re jumping in and out of chains based on use case. Where I disagree or found a missing nuance 👇 1. Onboarding Isn’t Solved Yet Only 11% of users claimed onboarding needed improvement, but this felt misleading. The data comes from already-active users in mature markets (US/UK), so of course they find onboarding fine. But anyone who's helped a friend set up their first wallet knows it’s still a nightmare. The friction from seed phrases, gas fees, and the mental model of self-custody still scares off most normies. Onboarding isn’t solved, it’s just tolerable to insiders in my opinion. 2. Interoperability Isn’t Just a Chain Problem The report suggests wallet fragmentation is mostly due to cross-chain UX challenges. That’s part of it. But security compartmentalization (keeping DeFi separate from NFTs, for instance), different browser extensions, and user behavior (creating temp wallets for airdrops or farming) all add to the bloat. To me it’s a broader UX problem, not just a tech stack one. 3. Governance Participation Is Low... well... for Good Reason Only 6% of users participated in governance. The report frames this as a lack of awareness or engagement. But there’s a deeper issue: current governance feels performative. Most votes are rubber stamps. Voting power is overly concentrated. And the UX of even participating is clunky. It’s not just about making governance more visible, it’s about making it meaningful. 4. Social Wallets: Low Retention, High Influence I liked the nuance here: social wallets (e.g., Magic, Venly) are driving UX innovation but have low long-term retention. That’s accurate. What could’ve been expanded is their role as UX sandboxes. Features like Passkeys, gasless UX, and seamless onboarding often get tested here first, then migrate to more mainstream wallets. They’re still crucial for the UX playbook, even if they don’t win in TVL. 5. Security Confidence Is Up… But Is It Real? 69% of users say they feel safe onchain, up from 50.5% last year. But phishing is up too. I’m skeptical that this boost in confidence means we’ve “solved” security, it may just mean users are more confident in their risk management habits, not the systems themselves. Until blind signing is fixed and smart wallet adoption improves, we’re still vulnerable. My quick closing thoughts 👀 It’s easy to miss how much room there is for improvement, especially around onboarding, wallet sprawl, and governance. We’re not there yet. The next wave of UX tooling needs to build for the mid-curve user who doesn’t care about chains, wallets, or fees, they just want things to work and enjoy the benefits. That’s the gap. And that’s the opportunity.

#GEM #NFT #BSC Koma MINT:

There are so many people writing about this @MagicNewton project because of giving @KaitoAI 0.75% of the total amount of tokens! 😂 There are @ethos_network mutual evaluation and pledge can be done with each other: the day of the evaluation, the pledge 1:1 back! Back to Basic+ @MagicNewton Project Analysis: Innovative Exploration of Cross-Chain Infrastructure 1. Project positioning and technical architecture @MagicNewton is a cross-chain network developed by Magic Labs, a blockchain wallet infrastructure company, in collaboration with Polygon Labs, aiming to solve the "silo problem" in the blockchain ecosystem and achieve cross-chain liquidity sharing and a unified wallet experience. Its core technology architecture is based on Polygon's AggLayer and Chain Development Kit (CDK), which allows developers to build decentralized applications (DApps) that run across multiple blockchains, allowing users to achieve cross-chain asset operations without having to manage multiple wallets. The technological innovations of the project include: 1. Chain unified network: By sharing state and liquidity, different blockchains are connected as a whole, similar to the ACH or SWIFT system in traditional finance, reducing the complexity of users' cross-chain operations. 2. Smart wallet solution: The Passport wallet supports EVM-compatible chains, allowing users to manage multi-chain assets through a single wallet and achieve a seamless cross-chain exchange experience. 3. Developer-friendly tools: Provide chain-independent development tools and free resources to simplify the creation process of cross-chain DApps and lower the technical threshold. 2. Team background and financing dynamics The Magic Labs team has extensive experience in the blockchain space. Co-founder and CEO Sean Li has been involved in the development of several cryptocurrency projects, and Chief Product Officer Jaemin Jin has deep experience in the wallet infrastructure space. The project received ongoing support from capital: - In August 2024, Magic Labs closed a $320 million funding round with the participation of former Google CEO Eric Schmidt's fund to support the development of AI programming tools and cross-chain technology. - The partnership with Polygon Labs, a leading project in the Ethereum scaling space, provides the underlying support for Newton with its AggLayer technology. 3. Market positioning and application scenarios Newton's core goal is to serve DeFi, NFT, GameFi and other fields that require cross-chain interaction. Specific application scenarios include: 1. Cross-chain asset trading: Users can directly exchange tokens between different blockchains through a single wallet, without relying on traditional bridging tools, reducing slippage and security risks. 2. Multi-chain DApp development: Developers can use Newton's toolkit to quickly build cross-chain applications, such as DeFi protocols that support multi-chain liquidity pools or cross-chain NFT marketplaces. 3. Enterprise-level solutions: Provide cross-chain infrastructure for financial institutions and supply chain platforms to facilitate the digital transformation of traditional industries. 4. Compliance and Partners Magic Labs emphasizes compliance operations, and its technology framework follows international standards such as SOC 2 Type 2, ISO 27001, and has established a partnership with Google Cloud to ensure data security and privacy protection. In terms of partners: - Deep integration with Polygon Labs enables it to access multiple chains within the Polygon ecosystem, such as Polygon Mainnet, zkEVM, etc. - In the future, it plans to expand to other mainstream public chains, such as Ethereum and BNB Chain, to further expand the network coverage. 5. Challenges and risks 1. Difficulty in technical implementation: Cross-chain interaction involves complex consensus mechanisms and security design, and Newton is still in the private testing stage, and its stability in high concurrency scenarios needs to be verified. 2. Fierce market competition: Mature projects such as Cosmos and Polkadot have emerged in the cross-chain track, and Newton needs to form differentiated advantages in technical performance and ecological construction. 3. Uncertainty in tokenomics: Although Magic Labs has launched the MAGIC token, its direct relationship with the Newton project has not yet been clarified, and it is necessary to pay attention to the subsequent token distribution and incentive mechanism design. 4. Regulatory policy risks: Cross-chain projects may face multi-country compliance reviews and need to ensure that their operations in different jurisdictions comply with local regulations. 6. Future prospects Newton's cross-chain unified network, if successful, is expected to become a key infrastructure to connect different blockchains and promote the large-scale adoption of cryptocurrencies. Its development path can refer to the following directions: 1. Testnet iteration: The private testnet to be launched in November 2024 needs to be gradually opened to public testing to attract developers and users to participate in the construction of the ecosystem. 2. Ecosystem cooperation expansion: Through cooperation with more public chains and DApp projects, a cross-chain liquidity alliance will be formed to enhance the value of the network. 3. Continuous technological innovation: Explore cutting-edge fields such as zero-knowledge proofs and sharding technology to further improve the efficiency and security of cross-chain transactions. VII. Conclusions @MagicNewton project represents an important exploration of cross-chain technology, which attempts to build a seamless multi-chain ecosystem by integrating Polygon's AggLayer and smart wallet solutions. Despite the technical challenges and market competition, its clear technical roadmap and strong partnerships provide it with a foundation for growth. Investors and developers need to keep a close eye on testnet progress, tokenomics design, and compliance developments to assess the project's long-term potential.