The Tezos Magic Button experiment: first results and findings

DegenTech
3 min readAug 16, 2021

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It’s been more than a month since the Magic Button experiment launched and it’s time to provide a short summary.

What is the Magic Button?

Just a short reminder for newbies. The Magic Button is a game where each player pays a coin to click the button, and when the countdown expires, the last one gets all the tokens in the pool. Also, to make a game more interesting we added staking, yield farming, and governance. To learn More about the game and it’s rules you may read our previous article.

The Magic Button results:

After the launch, the game passed 7 rounds and the total TEZ amount that was won by players was 12 477.2 ꜩ Here is a table with the winners:

Magic Button Winners:

If you want to see detailed information about each winner, you may check the info on tzkt.io by following the link.

You may notice that two of the biggest prizes were won by bots. Human players won the rest. Running bots is quite an expensive pleasure. Financially, it’s only profitable when the prize is higher than 300 XTZ, especially if a person wants to spam nodes with small transactions to make the bot transaction the last in the game. For people asking us to ban bots, we want to say that it’s impossible to do in decentralized applications. Unfortunately, we haven’t predicted that tezos nodes might be so easily spammed, and this fact partly ruined the fun from the game.

Other interesting facts:

  • Many people have noticed how interacting with the Magic button game in the first days has influenced the Tezos network stability and raised questions in the community about the Tezos scalability. It’s good that these questions were asked now, before the launch of the major DeFi projects on Tezos.
  • We have disappointed some people who claimed that we are scammers and that we will disappear soon. Sorry guys, we are here for the long run :)
  • One person won the game twice. He did not earn much but being a winner twice, we think, is cool.
  • The Magic Button was DDoSed several times by hackers, and it was crucial to restore the game functionality quickly in order to protect earned community trust. We did it.
  • We received much positive feedback from our community members about the nice user experience. We have shown that it’s possible to create fun and engaging games on Tezos.
  • We expect that our open-source solutions will be used by other developers to create their own farms. However, we see that the time has not come yet.
  • You can stake MAG-XTZ liquidity tokens on the Alien’s Farm and earn PAULs.

We will continue publishing reports related to the Magic Button experiment and share the most interesting findings with our community. Don’t forget that you can stake your MAG tokens in the dividends tab and earn baking rewards and commissions from the game.

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DegenTech

Group of degen developers who loves experiment with DeFi