The MAGIC / DEBT vault

Your assets.
Your vault.

Mint and redeem DEBT, manage your MAGIC collateral, and see your credit in one place.

A look inside the protocol

How this vault works

01 / THE BASKET

Mint or redeem.

Fund the basket with MAGIC and USDC to mint DEBT. Redeem DEBT for a proportional share of both reserves.

02 / YOUR CREDIT

Manage your position.

Deposit separate MAGIC collateral to borrow from funded DEBT inventory. Keep track of your collateral value and loan balance.

03 / REPAYMENT

Stay in the picture.

Creator fees can contribute to repayment, but amounts and timing are not guaranteed. Repay your outstanding DEBT as needed.

MAGIC / DEBT

The vault

Checking launch status

Mint DEBT

Add both assets to the basket and receive your share as DEBT.

DEBT to receive

DEBT

You contribute to the basket

MAGIC—

USDC—

0.5% transaction tolerance · Network fees apply

Verifying the latest on-chain state.

Earlier deploymentPAY / BACK accounts and their original rulesView accounts

These are the earlier PAY / BACK contracts. Their token identities and redemption rules are separate from the MAGIC / DEBT basket.

TRANSACTIONS LOCKEDTransactions are not available yet.

Global protocol—

Pay market—

Wallet Pay—

Wallet Back—

Deposited Pay—

Current debt—

POSITION LEDGER / LIVE ACCOUNT

Account exposure

WALLET::NOT_CONNECTED

PAY DEPOSITED—

PAY MARKET VALUE—

BACK BORROWED—

CURRENT DEBT—

BORROWING CAPACITY—

AVAILABLE TO BORROW—

REVENUE REPAID—

POSITION HEALTH—

RISK MONITOR :: CURRENT LTV—

0% / SAFE70% / CAUTION90% / LIQUIDATION

Pay to deposit

$PAY

Pay oracle priceORACLE SYNC REQUIRED

— USD

You deposit—

You borrow—

Liquidation price—

Back to pay toward your debt

$BACK

Pay collateral to withdraw

$PAY

Reserve-backed Back to redeem 1:1

$BACK

Transactions are not available yet. All displayed borrowing values use the signed on-chain oracle.