At the very start of this post I want to stress out that it is aimed at making the culprit deliver the results promised rather than giving them shit. While all the shit is due, let's hop on to the numbers:
- 2 898 total swaps,
- 22 714,335 HBD total transaction volume,
- 722084.514 HBD total HBD received from DHF.
Let's put that into perspective:
Sorry wrong file
Magi received 31.8 times more in DHF funding than the total value of transactions processed by its network. What does this mean is that we via DHF have paid to create a service that will create impact similar to invested funds after 15 years... And we are talking about turnover, not income.
Nevermind, go and experience the great success of @magi.network yourself:
https://magi-dex-analytics.pages.dev/
This is just a static page descripting the data I have got out of Magi, I don't want to become the biggest Magi API user because I might get banned just as I got banned on their Discord
Why users don't use Magi?
These monsters users probably don't use Magi/Altera/VSC out of the same users as me. Don't get me wrong, I try using it all the time, but simple I can't. I id I did I'd loose money and I like my moneys.
Look at screenshots provided below. Using Magi will cost you additional 2.673 HBD out of 74 HBD trade (about 3.6%). This situation repeats itself month by month no matter what token I want to swap.
I asked the same question all over again and kept getting the same answer - the liquidity is to blame. I accept Magi's response, but months have passed and nothing changed.
Identifying the problem is one thing. Actually doing something about it is another. And I think it's reasonable to expect someone who has received over 722,000 HBD from the DHF to at least try to solve it.
In my experience, liquidity pools on Hive-Engine often have smaller spreads, even when their liquidity is lower than Magi's. So I'm not entirely convinced that liquidity alone explains the problem.
But let's assume it does. What has actually been done about it? What steps have been taken to improve liquidity? What measures have been introduced to make trading on Magi more competitive?
And will the planned EVM integration change any of this? Will it actually address the problem, or will we simply have more trading options with the same underlying issues?
I'm not expecting miracles. But after all these months, and all that DHF funding, I think expecting some measurable progress is perfectly reasonable...at least reasonable to me.
But at the same time I am stupid enough to provide over 10% of Magi's liquidity myself.