Fly (FLY) is a multi-chain liquidity aggregation protocol, prioritizing maximal benefits for traders through the enhanced FLYwheel model.
Fly builds a multi-chain DeFi ecosystem with optimized routing technology, diverse staking, and direct rewards to users executing trades, creating a seamless and efficient trading experience across multiple blockchains.
MAIN CONTENT
Fly expands liquidity aggregation, optimizing cross-chain asset swaps with advanced routing algorithms.
The Fly ecosystem includes fly.trade, FLY33, xFLY, and Fly Boost, supporting staking, voting, and diverse rewards.
FLY Token has a community allocation of >55%, providing governance rights, gas fee discounts, and revenue sharing.
What is Fly (FLY)?
Fly is a multi-chain DeFi aggregation and execution platform, redefining the reward mechanism focused on traders. Formerly known as Magpie Protocol, Fly develops an ecosystem with the FLYwheel model inspired by ve(3,3), creating benefits for those generating actual trading volume, not just liquidity providers.
The project integrates advanced technology connecting over 50 blockchains, providing an optimal and seamless cross-chain trading experience, aimed at a modern DeFi infrastructure layer.
How does Fly operate?
Fly operates as a multi-chain transaction execution layer using proprietary routing algorithms, optimizing prices and reducing gas fees, connecting liquidity from hundreds of DEXs and over 50 blockchains.
The system leverages bridges and cross-chain messaging layers to swap assets directly without stablecoin or native token intermediaries. Features include high-level multi-chain liquidity aggregation, hiding complex technicalities through chain abstraction, and FLYwheel mechanisms redistributing active rewards and various staking options xFLY or FLY33.
Products in the Fly ecosystem
1. What is fly.trade?
Fly.trade is the main trading platform of Fly, functioning as an execution layer combining liquidity aggregation, optimal routing, and supporting cross-chain swaps in an intuitive interface.
This platform is not just a DEX but also focuses on optimizing the trading experience, directly incentivizing traders by reducing fees, increasing rewards, and optimizing the performance of each trade.
Function Description Cross-chain Swap Allows direct asset trading across multiple blockchains without manual bridging. Order Router Optimizes price finding and transaction routing across hundreds of DEXs. Staking FLY Stake to receive xFLY or FLY33, corresponding to governance rights and passive income. Vote emissions Manage reward distribution direction through voting rights on Token pairs. Fly Boost Automatically stake, vote, and compound without manual intervention.
Why is fly.trade different?
Fly.trade does not store liquidity but focuses on smart transaction execution with low fees, integrated bridging and messaging technology, optimizing user experience with private wallet security.
Trade without using stablecoins as intermediaries.
User-friendly interface design similar to centralized exchanges while maintaining decentralized characteristics.
Direct rewards aimed at those generating actual trading volume.
Trading experience on Fly.trade
Connect Web3 wallets (MetaMask, Trust Wallet...)
Select trading token pairs on the same or different blockchain
The system automatically optimizes transaction routing, reducing slippage and gas fees
Join staking, voting, or simply hold FLY to earn rewards
Layer Role Fly Protocol Cross-chain aggregation and incentive mechanism Fly.trade Interface, transaction execution layer xFLY / FLY33 Staking, voting & passive income Boost / Vote / Staking Enhance the efficiency of using FLY tokens Token Main unit, used for staking, voting, and reducing gas fees
2. What is FLY33?
FLY33 supports passive users to "HODL" tokens with auto-vote features, auto-compounding staking rewards without locking tokens.
This solution helps users receive regular rewards easily and requires no complex interactions.
3. What is xFLY?
xFLY is an advanced staking model, requiring token locking to gain governance rights, increasing voting power and higher rewards from the system.
4. Fly Boost – Enhance rewards and optimize FLYwheel
Fly Boost allows automatic staking, voting, and compounding rewards with FLY33, helping users maximize benefits without tracking or manual operations.
"Fly Boost is a powerful assistant for passive users who want to maximize profits from the Fly ecosystem without complex management."
Mr. Nguyen Minh Tuan, CEO of Fly Protocol, 06/2025
Feature Description Automatic staking Send FLY, the system automatically stakes and manages rewards. Compound Growth Staking rewards and bribes are automatically reinvested. FLY33 Integration No locking, receive full reward & voting rights. Automatic voting Voting algorithm selects the best pool to optimize rewards. Avoid ineffective inflation Distributing incentives for active traders and holders. Flexible Token withdrawal Liquid tokens, not locked, withdraw anytime.
For newcomers wanting to simplify staking
Passive holders wanting to receive income without manual voting
Small traders without time to manage complex staking
Criteria Manual staking Fly Boost (FLY33) Governance / Vote Requires manual operation Automatic, algorithm selects Compound rewards Must manually operate 100% automatic Locking period Yes (xFLY) No (liquid tokens) Long-term benefits High if proactive Stable, average Token withdrawal Must wait for vesting Withdraw immediately
Key features of Fly
Fly redefines the ve(3,3) model towards rewards focused on actual traders and optimizes cross-chain swaps.
Cross-chain ecosystem with diverse DEX aggregation and exclusive routing.
Just one interface for multiple chains, saving user operations.
Dual participation mechanism suitable for both active and passive users.
Token allocation of 55% for the community, aiming for sustainable decentralized ownership.
Overview of FLY Token and tokenomics
Token Metrics
Token Name: Fly
Token Code: FLY
Integrated blockchains: Ethereum, BNB Chain, and many chains via bridges
Token Standard: ERC-20
Max total supply: 100 million FLY (can expand up to 106 million)
Token allocation
Component Ratio Notes Community >55% Includes staking rewards, xFLY, FLY33 Initial Airdrop 0.5 – 1.5% For the Magpie Mafia community Drip Launchpool No vesting Encouraging new users Development team Not disclosed Balancing long-term sustainability Partners Flexible Strategic allocation based on collaboration
Token utilities
Stake to receive xFLY and participate in governance.
Auto-compound via FLY33 for passive income.
Receive WING tokens for gas fee discounts.
Share a portion of trading revenue on the platform.
How to earn and own FLY tokens
Officially purchase on MEXC with the FLY/USDT pair.
Join the airdrop, stake, or use fly.trade to earn rewards.
Storage wallets & exchanges for FLY Token
Storage wallets: MetaMask, Trust Wallet, SafePal
Exchanges: MEXC, PancakeSwap, fly.trade (coming soon)
Fly development roadmap
Q2/2025: Launch FLY33, rebranding from Magpie to Fly.
Q3/2025: Integrate AI DeFAI, expand DEX and LST ecosystem.
Q4/2025: Establish community governance DAO, implement long-term incentives.
2026: Expand integration of cross-chain layer zero bridges and multi-chain messaging.
Project team
The development team does not publicly disclose details but consists of top experts in AMM routing, cross-chain, and gas fee optimization, inheriting technical foundations from Magpie Protocol and focusing on repositioning strategic success.
Investors & partners
Fly raised 3 million USD from reputable investment funds such as JUMP Crypto, GSR, and ParaFi Capital.
Integration partners include top DEXs on Ethereum, BNB Chain, Arbitrum.
Notable collaboration campaigns with MEXC Launchpool and airdrops for the Magpie Mafia community.
Similar projects to Fly
Project Strengths Differences from Fly 1inch Integrates many DEXs, fast routing No centralized incentive model for traders like Fly Paraswap Established, reputable DEX aggregator No auto-compound product like FLY33 LayerZero Multi-chain bridge & messaging infrastructure Does not integrate routing and incentives for traders Wormhole Strong cross-chain bridge Does not focus on being an execution layer like Fly
Overview assessment of Fly
Fly represents a strategic transition from Magpie, with a vision to center traders in the DeFi ecosystem through the innovative FLYwheel model. The FLY33 product expands access for average users, while xFLY empowers positive contributions.
Fly not only aggregates cross-chain effectively but also aims to be the ideal execution engine for the DeFi era integrated with AI's potential in the future.
Frequently asked questions about Fly
1. What is the difference between FLY33 and xFLY?
FLY33 is a non-locking automatic staking, suitable for passive users. xFLY requires token locking but offers voting rights and higher rewards.
2. How does Fly differ from 1inch or Paraswap?
Fly not only routes but also develops a comprehensive incentive ecosystem, with tokenomics and layers for staking, voting, reducing gas fees for users.
3. Is Fly a cross-chain bridge?
No, Fly is an execution layer leveraging existing bridges for efficient routing and transaction processing, without operating its own bridge.
4. Who is Fly Boost suitable for?
For newcomers, passive holders, and small traders without time to manage staking, helping maximize profits without frequent operations.
5. What is the FLY Token used for?
FLY is used for staking to receive xFLY/FLY33, governance voting, receiving gas fee discounts, and sharing trading revenue.
Source: https://tintucbitcoin.com/fly-fly-la-gi/
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