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.

This press release was originally published on this site