One Magic is a improvement fork of Alchemix Finance which released on BSC. One Magic has a special automatic loan repayment system. Users can unlock their future yield.
How to use:
Deposit will be used in a yield vault
Mint 50% of deposit by onUSD immediately
onUSD is a 200% collateralisation ratio stable token, anchored at $1
Use your onUSD to buy what you like, your yield will automatically help you pay off your debts
If you know Basis.cash, you can quickly become an expert in this system. But we still made some changes.The mechanism of ONC is to anchor 1 usd as much as possible. As a share of the entire system, ONS can obtain issued ONC.
However, we spent a long time to rethink the entire economic system and relaunched system. The following are the highlights of this update：
ONC-DAI pool deposit is permanently locked
Remove most of Basis.cash codes and rewrite it, fixed potential vulnerabilities
Refactor ONC distribution algorithm
Remove bond system
Develop some Defi products, which are used to support One Cash
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