Dubai, UAE, June 04, 2025 (GLOBE NEWSWIRE) -- On the 6th of June at 1pm UTC, the Fly.trade ($FLY) token generation event (TGE) officially launches on Sonic, with Binance Alpha and Kraken.
At the center of fly.trade( prev. Magpie Protocol) is the native token, $FLY, a next generation token model that aligns and incentivizes traders, stakers, and protocols alike. From volume based rewards, to emissions, bribes, reduced slippage, revenue share, and more, $FLY unlocks opportunities to earn like never before.
$FLY Tokenomics: ve(3,3) inspired Mode
fly.trade’s tokenomics employ a ve(3,3)-inspired model tailored for an aggregator-first protocol with xFLY turning every trade into an opportunity to earn.
- Trader Incentives: Direct subsidies reduce fees and slippage on high-demand trading pairs.
- xFLY: For active users who want to vote, earn bribes, and maximise rewards through staking and trading $FLY in FLY pools.
- FLY33: mint your xFLY for set-and-forget participation with auto-compounding rewards and no lock-ups.
- Flywheel Effect: By staking and voting, traders earn more; the increased volume and fees then raise incentives, creating a self-reinforcing cycle.
- ve33 Governance: Lock $FLY to receive xFLY, granting governance power over protocol fees, emissions, and partnerships.
- Revenue Sharing: Protocol fees are distributed to stakers, creating a flywheel for long-term holders.
About fly.trade
Fly.trade (previously Magpie Protocol) is the leading liquidity aggregation and trade execution protocol within the Sonic ecosystem. Designed to simplify cross-chain DeFi, Fly.trade delivers seamless swaps, optimised routing and one-click staking across 19+ chains. Fly.trade is positioning itself as the go-to execution layer for traders, protocols, and liquidity providers.
- Provably Better Pricing: Fly.trade’s aggregation algorithm consistently delivers better swap rates majority of the times than all major aggregators in the market, minimising slippage and transaction costs across thousands of quotes.
- Industry Leading Partnerships: Integrated in Rabby Wallet, TraderJoe( now LFJ), Shadow Exchange, Particle Network, Socket, Relay, Euler, HeyAnon, Symbiosis, Router and many more to provide swaps with optimised routing.
- Proven Track Record: Over $6.3+ billion in cumulative volume, 3.1 million swaps and over 260k unique onchain users to date.
- Key Advantages: First-to-market cross-chain aggregator powering seamless swaps across 18+ chains, supporting almost every token, including easy same and cross-chain asset swaps, cross-chain LST/LRT swaps & deposits, LP token swaps, abstracted bridging, integrations and partnerships with some of the best protocols and projects within the Sonic ecosystem and DeFi as a whole.
Roadmap: Building DeFi’s Execution Layer
- 6th June, 2025 : $FLY launches on Sonic
- Q2 2025: Launch FLY Dashboard, Staking, Emissions, Bribes, and Revenue Share. Launch Earndrop™. Expand to EVM chains: Soneium, Abstract. Integrate Binance and OKX wallets.
- Q3 2025: Expand to EVM chains: MegaETH, Monad, HyperEVM. Expand to non-EVM chains: Solana, Eclipse. Onboard new protocols and liquidity sources. Launch Swap UI with charts, implement DCA feature, and add Limit Orders.
- Q4 2025: Bridge Aggregation 2.0 upgrade. Order flow tracking, updated order routing UI, and launch Fly 2.0: Universal Aggregation (Chain-Abstracted UX).
Token Generation Event (TGE)
Fly.trade and $FLY are poised to become the backbone of Sonic’s DeFi economy with a confirmed listing on Binance Alpha and Kraken!
Ready to trade smarter?
- TGE Date & Time: Friday, June 6th, 1pm UTC
- Lock $FLY to receive xFLY
- Earn Passively with FLY33
- Token Utility: Trading incentives, reduced fees & slippage on high-demand pairs, bribes, voting, emissions, multiplier on voting and trading.
For detailed tokenomics, roadmap updates, and how to participate in the TGE follow @flytrade_ on Twitter for real-time updates on the token launch and future developments.
Disclaimer: The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities.
CONTACT: contact (at) magpiefi.xyz
