The Power of Community: Magic Inu
“In the short term, markets are a popularity contest. In the long term, the market is a weighing machine.” — Warren Buffett
Communities are extraordinarily powerful.
Communities are extraordinarily powerful — especially in the crypto space. Community-driven projects like Shiba Inu have amassed huge followings over the past years, seen demand for participation in their project explode, and revolutionized the crypto space. We know that ‘revolutionized’ is becoming a bit of a buzzword in the crypto space (we’re looking at you, trendy DeFi projects), but seriously — community-driven projects like Shiba Inu have changed the crypto environment by being inclusive and innovative. Community activity can drive the direction of a project, effect token demand, and lead to innovative new ideas. These are the welcoming projects that introduce curious new participants into the cryptocurrency world and show them the ropes.
The quote that began this article, the one by Warren Buffet, offers some insight into why sustained community involvement in a project can be so powerful. In the short term, novel projects tend to do well because their novelty attracts attention and creates a bit of a frenzy of participation. Once that initial excitement dies down, though, projects tend to follow one of two paths. The first path is the community exits the project and it stands all but abandoned. Obviously, this isn’t the ideal scenario, and this first path leads to the market weighing a project down. The popularity contest may have been sweet in the beginning, but it was short lived.
Where the $MAGIC Happens
The second path, though, is where the real Magic happens. This is the path where community involvement tilts the scales in favor of a project’s long-term health and Mr. Buffett’s metaphorical market scales begin to tip in its favor. This path is where the excitement, innovation, sustained energy, and revolutionary activity happens — which is exactly the path that the new community driven token ‘Magic Inu’ is beginning to trend down.
Magic Inu ($MAGIC) is a novel project that incorporates some well-known tokenomics with innovative community-driven tokenomics. The better known tokenomics include:
(1) 5% reflections to holders of $MAGIC to reward them for staying with the project and contributing to its growth. Magic Inu is for the community, by the community. Shouldn’t the community be rewarded for helping the project blossom? We think so.
(2) 5% auto liquidity intended to stabilize market fluctuations. Community efforts are sometimes recognized immediately, and sometimes they’re not. The auto-stabilization measures of Magic Inu are intended to ensure that fluctuations remain favorable and that community efforts are recognized.
(3) 5% automatically allocated toward marketing fees and spreading the magic. Community involvement + active marketing. Now that’s a surefire way to increase the chances that the community keeps the Magic alive.
Those tokenomics serve to reward holders, encourage new community members, and spread the word — and while they’re exciting, they’re not exactly novel. What is novel, though, are the other things that the Magic Inu community has in the pipeline. These plans are intended to truly maximize the rewards that community members receive for being a part of the project! They include:
(1) A dynamic new pay-to-shill system where Magic Inu community members can be rewarded doubly for participating in the Magic Inu project.
(2) A planned NFT marketplace that uses $MAGIC as the primary mode of payment.
(3) Plans to launch on BSC and FTM in the near future, along with the prospective deployment of a bridge.
Curious for More?
For more information on the Magic Inu project, check out the following resources!
Website: http://www.magicinu.net/
Telegram: https://t.me/MagicInuPortal
Twitter: https://twitter.com/MagicInuToken
