I have let this one percolate a bit before deciding to comment.
The question I ultimately end up with — which is perhaps the elephant in the room — is "who cares?"
I don't mean that in a snarky way, but in the sense of Magi perhaps being "only one of four" but WHO and HOW exactly is anyone going to (A) know, (B) care and (C) suddenly going to switch from (for example) Thorchain to Magi? Or even know that Magi exists?
Based on history, suggesting that Hive's "native population" of users will be enough to spin the flywheel seems like wishful thinking, so how is the world external to Hive going to find out about this in the first place and subsequently make the decision that "wow, I should try this instead of using Thorchain!"
In other words, what is the unique value proposition that makes this viable at any kind of scale?
Remember, you can build the greatest thing in the world, but if there are no roads that lead to it it will never amount to anything.
You can read the part on how this would work, its covered well in the bottom part of the proposal. The beautiful thing about this is that they dont have to know at all Magi exists. They will, but they dont need to.
We offer a liquidity layer, these pools will be available on DEXes and aggregators. We dont even need people to use Altera, our frontend, even though it would be great, we just need them to use our SDK and route swaps via our pools.
We already have aggregators inquiring on their own precisely because theres no one else. Theres only 4 protocols that arent single ecosystem locked like Uniswap for example. We are one of them.
You would use Magi instead of Thorchain because the token you want isnt on Thorchain as Thorchain simply cannot cover all the integrations, its simply imposible. Thats our angle, serve demand thats not served. Thorchain covers fraction of a fraction of a fraction of a % of the market. Theres room for everyone. Thats where the buy pressure for HBD comes from for us.
Well, thanks for taking the time to reply.
I'm always hopeful when there are initiatives that involve bringing Hive-based projects to the world outside the framework of the Hive sandbox.
Voted for.