Magi Token & Magi NFT

With todays release, these two contracts form a complete token ecosystem, the foundation for building DeFi, gaming, NFT experiences, and community-driven projects on Magi. Whether you’re a developer, creator, or collector, the tools are now live and ready to use. 🎇

1. Magi Token

Contract Basics

Magi Token is a fungible token contract built for the Magi network. It follows the ERC-20 standard - the most widely used token interface in crypto, originally from Ethereum.

Feature Coverage

Feature	Notes
Transfer tokens	with self-transfer protection
Allowance (approve/transferFrom)	enables DEX & DeFi integration
Safe allowance (increase/decrease)	prevents front-running attacks
Mintable (owner only)	capped by maxSupply
Burnable (any holder)	deflationary mechanism
Pausable (owner only)	emergency kill switch
Ownership transfer	single-step transfer
Events	ERC-20 compliant (Transfer, Approval)
Safe math	overflow/underflow protection

What You Can Do After Deploying

Ready to Go (works today)

Distribute tokens - mint and send tokens
List on a DEX - the allowance pattern (approve + transferFrom) is exactly what DEXes need. Any DEX contract on Magi can integrate with this contract
Accept payments - any app can check balanceOf and accept tokens
Deflationary events - burn tokens to reduce supply (community burn events, buyback-and-burn)
Emergency pause - if something goes wrong, freeze all transfers instantly
Transfer ownership to a DAO - hand control to a community-governed contract

What To Build Next (as separate contracts or upgrades)

Use Case	What's Needed
DEX / AMM	A separate swap contract that uses `transferFrom` on two token contracts to create liquidity pools
Staking / Yield farming	A staking contract where users lock tokens and earn rewards over time
Governance / Voting	Snapshot mechanism so token balance at a specific block determines voting power
Vesting / Token locks	A contract that holds tokens and releases them on a schedule (for team, investors)
Airdrop tool	A batch-transfer contract or off-chain script that distributes tokens to many addresses
Wrapping Hive assets	A contract that accepts HIVE/HBD deposits and mints wrapped tokens 1:1
NFT marketplace payments	An NFT contract that accepts tokens via the allowance pattern
Subscription/recurring payments	A contract that periodically calls `transferFrom` against a user's allowance

The Big Picture

Magi tokens is a solid base layer token contract - comparable to deploying a well-written ERC-20 on Ethereum using OpenZeppelin. It's production-ready for the core use case: a transferable, mintable, burnable fungible token with admin controls.

What makes real tokens valuable in the crypto world isn't just the token contract itself, but the ecosystem built around it: DEXes that trade it, lending protocols that accept it as collateral, governance systems that use it for voting power, and so on. The token contract is the foundation - everything else is built on top using the allowance pattern and contract-to-contract calls that the Magi SDK already supports.

Most Impactful Next Steps

A DEX/AMM contract - gives the token a market and a price
A staking contract - gives holders a reason to hold
Governance - gives the community control

2. Magi NFT

Contract Basics

Magi NFT is a multi-token contract built for the Magi network. It follows the ERC-1155 standard - the most versatile token standard in crypto, supporting both fungible (editions) and non-fungible (unique 1/1) tokens in a single contract.

This is a step up from ERC-721 (which only handles unique NFTs). With ERC-1155, one contract can manage an entire ecosystem of token types.

Feature Coverage

Feature	Notes
Single transfers (safeTransferFrom)	with authorization checks
Batch transfers (safeBatchTransferFrom)	move multiple token types at once
Operator approval (setApprovalForAll)	marketplace integration
Balance queries (single + batch)	ERC-1155 compliant
URI management (per-token + baseURI)	custom or pattern-based metadata
Supply enforcement (maxSupply)	locked on first mint, per token type
Unique NFTs (1/1)	maxSupply=1
Editioned NFTs	maxSupply>1, mint across multiple txs
Soulbound tokens	inspired by EIP-5192, owner can distribute
Track minted (permanent burns)	optional, burned tokens can't be re-minted
Batch minting	mint multiple token types in one call
Batch burning	burn multiple token types in one call
Pausable	emergency kill switch
Ownership transfer	single-step transfer
ERC-165 interface detection	reports ERC-1155 + ERC-165 support
Events	TransferSingle, TransferBatch, ApprovalForAll, URI
Safe math	overflow/underflow protection

What You Can Do After Deploying

Ready to Go (works today)

Launch an NFT collection - mint unique 1/1 art pieces, PFPs, or generative art
Create editioned drops - mint limited runs (e.g., 100 copies of a special card)
Issue soulbound badges - achievement tokens, POAPs, certifications that can't be resold
Build a game economy - gold, silver, bronze tokens + unique legendary items, all in one contract
Marketplace integration - users approve a marketplace operator, marketplace executes trades via safeTransferFrom
Airdrop NFTs - use mintBatch to create multiple token types at once
Credential system - soulbound tokens for KYC badges, membership passes, skill certifications
Revocable credentials - owner can burn soulbound tokens to revoke badges/memberships
Emergency pause - freeze all transfers if an exploit is discovered
Support for storing data in contract state.

What To Build Next (as separate contracts or upgrades)

Use Case	What's Needed
NFT Marketplace	A contract that escrows NFTs, lists them for sale, and executes trades via operator approval
Auction house	Timed auctions with bidding, uses operator pattern to transfer winning NFT
Royalties	A marketplace contract that splits payment between seller and original creator on every resale
Loot boxes / packs	A contract that randomly assigns NFTs from a pool when opened (uses VRF or commit-reveal)
Staking NFTs for rewards	Lock NFTs in a staking contract, earn tokens/HIVE/HBD/... over time
NFT gating	Other contracts check `balanceOf` to gate access (e.g., hold a membership NFT to access premium features)
Collection pages	Off-chain indexer that reads events (TransferSingle, TransferBatch) to build a frontend gallery
Metadata service	A server at the baseURI that serves JSON metadata (name, description, image) per token ID
Crafting / combining	Burn multiple tokens to mint a new, rarer token (e.g., 3 bronze = 1 silver)
Rentals / delegations	Allow someone to "use" an NFT without owning it (inspired by ERC-4907)

Why It Matters:

Magi NFT is a full-featured ERC-1155 implementation with some extras that most EVM projects don't have out of the box - soulbound tokens, built-in supply caps, and the trackMinted option for permanent burns. It's comparable to deploying an OpenZeppelin ERC-1155 with Supply, Pausable, Ownable, and a custom Soulbound extension.

The combination of Magi Token (ERC-20) + Magi NFT (ERC-1155) gives you a complete token ecosystem:

Layer	Contract	Role
Currency	Magi Token	Payments, DEX trading, staking rewards
Assets	Magi NFT	Collectibles, game items, badges, memberships

This is the same two-contract pattern used by most successful crypto projects: a fungible token for the economy and a multi-token contract for the assets.

With Magi’s upcoming cross-chain capabilities, multi-chain wallet interoperability will allow for users outside the Hive ecosystem to directly interact with dApps built on our platform. This will expose applications to a broader crypto audience and unlock new opportunities for liquidity and engagement.