Magi.eco is bringing smart contracts and cross-chain abilities to the Hive blockchain. It's live, working, and still building. Yet for me, the vocabulary, tools, and knowing where to go and what to click requires some learning.
Here's an example: I had some HIVE and was able to transfer it over and into Magi. I already had 0.981 sHBD. Now, my Magi balance is worth $4.53 Let's go through this.
1. This is the Altera "wallet" at https://altera.magi.eco Altera is simply a front end to interact with the Magi network. Like the way PeakD or Ecency interacts with the Hive blockchain, the Altera front end tries to make things easy and intuitive for we humans. The only thing is, I'm not finding it completely intuitive -- I'm fumbling through it but learning.
2. The menu bar was where I first got stuck and this is where vocabulary starts to matter. Now, we have HIVE "on mainnet" and HIVE "on Magi". Recall that I wanted to move HIVE from mainnet to Magi, so, I clicked "Transfer". Turns out that was wrong. Transfer here means to transfer from account X on Magi to account Y on Magi. However, you CAN toggle to "External transfer" with Magi-->Hive Mainnet and do just that (I haven't tried yet).
With "Transfer" not being what I wanted, I tried the "Cross-chain Swap" menu item thinking it might be from the Hive chain to the Magi chain, but I was wrong again. Here, "cross-chain" means bitcoin to Magi. Frankly, I'm not sure if the bitcoin needs to first be imported/deposited into Magi and then cross-chain swapped into HIVE on magi or if it can be simply sent from the bitcoin chain itself. See what I mean? Swapping and bridging gets messy. Vocabulary matters.
3.The Magi wallet holds tokens and has a couple of new ones to me: sHBD and HIVE Consensus. Let's run through the tokens:
First, there are the two Hive tokens back on the Hive mainnet:
Magi is planning a MAGI token, an ERC-20. However, I'm fairly sure that it's not live just yet but is in the building stages. It's not important here; back to Altera's UI...
From the Altera screenshot above, item number 3 shows the current "tokens" on Magi in my wallet. Tokens may not technically be the correct word, but it works conceptually. You can see these listed in the image above.
Below, I had moved 0.5 HBD from Hive mainnet into Magi. I wanted to stake 0.4. Notice that I had 6.845 HBD back on Hive mainnet that I could have imported into Magi first by checking the "First deposit HBD..." checkbox. By unchecking that box, I staked from the 0.5 HBD already in Magi.
That's all for my experiment at this point. One note in the image below is my Resource Credits (RCs) on Magi. They started out at 100% and are now down to 98%. RCs are the fuel to do things on Magi (or Hive) like the things I just did like moving tokens. They will regenerate. This was one of the reason I've moved a bit of HBD into Magi -- so I can test and play around.
And that's it. The numbers all updated and my little experiment continues.
