This update provides an expanded overview of the ongoing engineering efforts across the Magi protocol, Magi pools, the BTC mapping layer, and the Altera application. Work continues to focus on security, protocol upgrades, infrastructure improvements, and preparing the broader ecosystem for upcoming launches.
Network Security and Stability:
We have recently addressed critical bugs identified within the Magi network, including issues tied to both internal and external security vectors. We want to thank @louis88 and @rivalzzz for their help in swatting these bugs. Their contribution has been invaluable. (Thanks guys. L.B.)
These fixes are essential for ensuring safe conditions for mainnet launch and for maintaining stable behavior across mapping and liquidity systems. The current cycle includes improvements to reliability during high-load scenarios and better validation around cross-asset mapping operations.
Protocol Upgrade // HF 28:
The Magi network upgrade to support Hive Hardfork 28 has been completed. This ensures compatibility with the latest changes to the Hive base layer and enables smoother integration work across the protocol’s components.
Coinbase Integration:
We are currently working with Coinbase to enable seamless buying and selling of HIVE directly through Magi pools once all systems are stable and fully validated.
This integration will provide users with a frictionless on-ramp and off-ramp experience via Coinbase, making it easier for anyone to participate in the HIVE ecosystem.
Magi Pool Development:
Development on Magi pools continues to advance. A major effort involves the addition of pipeline support that will allow users to purchase or sell HIVE and HBD directly via on-chain Bitcoin wallet addresses. This eliminates the requirement to deposit assets into Magi prior to executing swaps, reducing friction and simplifying the user experience.
Extensive production-level testing is underway to validate Native Asset Mapping, ensure that mapping flows behave correctly under live conditions, and uncover any edge-case issues. Active work includes fixing contract bugs, addressing mapping inconsistencies, and improving general network stability in preparation for launch.
Altera Application Work:
Significant progress has been made on the Altera application as it moves toward supporting Bitcoin and liquidity pool interactions:
• A new liquidity pool management widget has been added, which will launch alongside the initial pool rollout.
• Asset selection and amount-input interfaces have been improved across the platform, providing clearer workflows and reducing user input ambiguity.
• A new withdrawal widget has been implemented to simplify the withdrawal process.
These updates ensure that Altera’s UI and UX are aligned with the new on-chain capabilities being introduced through Magi and the upcoming pool system.
BTC Mapping Layer:
Several advancements have also been made across the BTC mapping bot and contract.
• The mapping bot has been updated to store Bitcoin addresses and associated swap instructions, including destination assets, target accounts, and slippage settings.
• Improvements to the BTC mapping contract’s state management system are underway.
• Work continues on enabling swaps via inter-contract calls, which will allow the BTC mapping contract to interact more directly with Magi pool and DEX logic.
• A live version of the BTC mapping contract has been successfully tested on Magi using Bitcoin testnet transactions, validating core functionality under realistic conditions.
DEX and Mapping Contract Integration:
We are finalizing integration between the DEX, liquidity pools, the mapping contract, and the automation bot. This ensures that swaps, liquidity movements, and mapping updates operate cohesively and reliably once the ecosystem is fully launched.
Awesome! Thanks for the update. Looking forward to testing the BTC liquidity pool when it comes out.
Awesome fracking sauce ;)
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STOPDoes that imply a listing of HIVE on Coinbase or they provide the on/off ramp to fiat for the HIVE pools on Magi?
if it happens coinbase integration is great