▶️Booster
The Booster is a specially developed smart contract that upgrades LUM to Magic LUM. All Magic LUM tokens are distributed by this smart contract. The Booster combines several functions in its structure: On the one hand, it ensures that new Magic LUM Tokens are primarily distributed to MagicSea users who also provide liquidity. On the other hand, the Booster uses a unique burning mechanism to remove LUM from the market.
To upgrade LUM to Magic LUM, LUM must be placed in the booster and in return Magic LUM will be distributed. However, since this is a so-called refining process, the inserted LUM tokens in the Booster are burned in percentage over time, while Magic LUM tokens are distributed in the same turn. This means that the process is time dependent. The longer the LUM Tokens are in the Booster, the more LUM are converted to Magic LUM. For security reasons, the deposited LUM tokens are locked in the booster for 72h. So in each case a certain percentage of his deposited LUM tokens will be converted into Magic LUM.
However, this conversion process from LUM to Magic LUM is not a 1 LUM to 1 Magic LUM conversion. Rather, the Booster works similar to a staking pool. A defined amount of Magic LUM is distributed per second to all participants of the Booster. The payout rate of Magic LUM is independent of how many LUM tokens were placed in the Booster. With an increased amount of deposited LUM, the yield decreases. However, unlike a staking pool, LUM is continuously removed from the pool through the refinement process. So over time, the amount of LUM in the Booster steadily decreases and thus the yield steadily increases if no new LUM is contributed to the Booster.
The Booster Dynamic is an innovative feature that creates a balance between LUM and Magic LUM. For users who want to participate in MagicSea for a long time and share in its success, the Booster offers a unique opportunity to get Magic LUM.
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