Magic Square Starts Beta Launch Waitlist Signups with Giveaway Campaign
- It has launched a bounty campaign of up to $250,000.
- Participants will receive $SQR tokens that can be spent in the native store.

Magic Square, a community-driven multi-chain crypto app store, has taken another step towards the launch of its platform with the opening of user signups for its upcoming beta launch waiting list.
According to the press release shared with Finance Magnates, the team behind the project is also luring potential users with the announcement of a giveaway campaign. It has issued a bounty campaign of up to $250,000 in rewards for participants.
Further, the campaign will grant all participants a free one-year Premium Magic Square membership and $SQR tokens to spend in the native store. “All participants receive free $SQR tokens to spend in the store on dApps and customizing their workspace,” the platform stated.
Also, the beta launch waitlist campaign participants can receive up to $1,000 in NFTs through the Magic Square NFT-drop campaign, along with higher stake rewards.
“Users who stake $SQR can either become validators or delegate their stake to validators. Both options will earn user rewards. Applying for a validator position requires staking
Staking
Staking is defined as the process of holding funds in a cryptocurrency wallet to support the operations of a blockchain network. In particular, staking represents a bid to secure a volume of crypto to receive rewards. In most case however, this process relies on users participating in blockchain-related activities via a personal crypto wallet.The concept of staking is also closely tied to the Proof-of-Stake (PoS). PoS is a type of consensus algorithm in which a blockchain network aims to achieve distributed consensus.This notably differs from Proof-of-Work (PoW) blockchains that instead rely on mining to verify and validate new blocks.Conversely, PoS chains produce and validate new blocks through staking. This allows for blocks to be produced without relying on mining hardware. As such, instead of competing for the next block with heavy computation work, PoS validators are selected based on the number of coins they are committing to stake.Users that stake larger amounts of coins have a higher chance of being chosen as the next block validator. Staking ExplainedStaking requires a direct investment in the cryptocurrency, while each PoS blockchain has its particular staking currency.The production of blocks via staking enables a higher degree of scalability. Moreover, some chains have also moved to adopt the Delegated Proof of Staking (DPoS) model. DPoS allows users to simply signal their support through other participants of the network. In other words, a trusted participant works on behalf of users during decision-making events.The delegated validators or nodes are the ones that handle the major operations and overall governance of a blockchain network. These participate in the processes of reaching consensus and defining key governance parameters.
Staking is defined as the process of holding funds in a cryptocurrency wallet to support the operations of a blockchain network. In particular, staking represents a bid to secure a volume of crypto to receive rewards. In most case however, this process relies on users participating in blockchain-related activities via a personal crypto wallet.The concept of staking is also closely tied to the Proof-of-Stake (PoS). PoS is a type of consensus algorithm in which a blockchain network aims to achieve distributed consensus.This notably differs from Proof-of-Work (PoW) blockchains that instead rely on mining to verify and validate new blocks.Conversely, PoS chains produce and validate new blocks through staking. This allows for blocks to be produced without relying on mining hardware. As such, instead of competing for the next block with heavy computation work, PoS validators are selected based on the number of coins they are committing to stake.Users that stake larger amounts of coins have a higher chance of being chosen as the next block validator. Staking ExplainedStaking requires a direct investment in the cryptocurrency, while each PoS blockchain has its particular staking currency.The production of blocks via staking enables a higher degree of scalability. Moreover, some chains have also moved to adopt the Delegated Proof of Staking (DPoS) model. DPoS allows users to simply signal their support through other participants of the network. In other words, a trusted participant works on behalf of users during decision-making events.The delegated validators or nodes are the ones that handle the major operations and overall governance of a blockchain network. These participate in the processes of reaching consensus and defining key governance parameters.
Read this Term 50,000 $SQR and passing a qualification test to determine reliability. A validator will receive rewards for the validation process, including vetting every application submitted to the Magic Store,” the press release detailed.
Community Is Its Core
Magic Square is developing an app store by integrating community-vetted crypto apps, NFTs, DeFi solutions into Magic Store apps and GameFi. It will provide a Magic Framework for the development of crypto apps and widgets, and a community will curate the apps to be listed on Magic Store.
“It removes the need to switch between a website and dApp, as you can access everything through the same trusted and streamlined user interface.”
Magic Square, a community-driven multi-chain crypto app store, has taken another step towards the launch of its platform with the opening of user signups for its upcoming beta launch waiting list.
According to the press release shared with Finance Magnates, the team behind the project is also luring potential users with the announcement of a giveaway campaign. It has issued a bounty campaign of up to $250,000 in rewards for participants.
Further, the campaign will grant all participants a free one-year Premium Magic Square membership and $SQR tokens to spend in the native store. “All participants receive free $SQR tokens to spend in the store on dApps and customizing their workspace,” the platform stated.
Also, the beta launch waitlist campaign participants can receive up to $1,000 in NFTs through the Magic Square NFT-drop campaign, along with higher stake rewards.
“Users who stake $SQR can either become validators or delegate their stake to validators. Both options will earn user rewards. Applying for a validator position requires staking
Staking
Staking is defined as the process of holding funds in a cryptocurrency wallet to support the operations of a blockchain network. In particular, staking represents a bid to secure a volume of crypto to receive rewards. In most case however, this process relies on users participating in blockchain-related activities via a personal crypto wallet.The concept of staking is also closely tied to the Proof-of-Stake (PoS). PoS is a type of consensus algorithm in which a blockchain network aims to achieve distributed consensus.This notably differs from Proof-of-Work (PoW) blockchains that instead rely on mining to verify and validate new blocks.Conversely, PoS chains produce and validate new blocks through staking. This allows for blocks to be produced without relying on mining hardware. As such, instead of competing for the next block with heavy computation work, PoS validators are selected based on the number of coins they are committing to stake.Users that stake larger amounts of coins have a higher chance of being chosen as the next block validator. Staking ExplainedStaking requires a direct investment in the cryptocurrency, while each PoS blockchain has its particular staking currency.The production of blocks via staking enables a higher degree of scalability. Moreover, some chains have also moved to adopt the Delegated Proof of Staking (DPoS) model. DPoS allows users to simply signal their support through other participants of the network. In other words, a trusted participant works on behalf of users during decision-making events.The delegated validators or nodes are the ones that handle the major operations and overall governance of a blockchain network. These participate in the processes of reaching consensus and defining key governance parameters.
Staking is defined as the process of holding funds in a cryptocurrency wallet to support the operations of a blockchain network. In particular, staking represents a bid to secure a volume of crypto to receive rewards. In most case however, this process relies on users participating in blockchain-related activities via a personal crypto wallet.The concept of staking is also closely tied to the Proof-of-Stake (PoS). PoS is a type of consensus algorithm in which a blockchain network aims to achieve distributed consensus.This notably differs from Proof-of-Work (PoW) blockchains that instead rely on mining to verify and validate new blocks.Conversely, PoS chains produce and validate new blocks through staking. This allows for blocks to be produced without relying on mining hardware. As such, instead of competing for the next block with heavy computation work, PoS validators are selected based on the number of coins they are committing to stake.Users that stake larger amounts of coins have a higher chance of being chosen as the next block validator. Staking ExplainedStaking requires a direct investment in the cryptocurrency, while each PoS blockchain has its particular staking currency.The production of blocks via staking enables a higher degree of scalability. Moreover, some chains have also moved to adopt the Delegated Proof of Staking (DPoS) model. DPoS allows users to simply signal their support through other participants of the network. In other words, a trusted participant works on behalf of users during decision-making events.The delegated validators or nodes are the ones that handle the major operations and overall governance of a blockchain network. These participate in the processes of reaching consensus and defining key governance parameters.
Read this Term 50,000 $SQR and passing a qualification test to determine reliability. A validator will receive rewards for the validation process, including vetting every application submitted to the Magic Store,” the press release detailed.
Community Is Its Core
Magic Square is developing an app store by integrating community-vetted crypto apps, NFTs, DeFi solutions into Magic Store apps and GameFi. It will provide a Magic Framework for the development of crypto apps and widgets, and a community will curate the apps to be listed on Magic Store.
“It removes the need to switch between a website and dApp, as you can access everything through the same trusted and streamlined user interface.”