We have made yet another giant step in our quest to revolutionize the DeFi space with unique user-focused solutions. Today, we are delighted to announce our partnership with the Magic team. This partnership will see Magic become the latest DeFi-focused product to be integrated into the Cook platform.
As the world undergoes an unprecedented Blockchain/DeFi transformation, a lot of our daily activities are now domiciled online. From our social activities and communications, to businesses and financial transactions. Consequently new challenges surrounding secured access to these services have dominated the headlines in recent times.
Synergy Between Cook Finance and Magic
Many DeFi & Web3 users have raised concerns about having difficulties managing passwords, wallet integration and access authorization for dozens of digital services that they currently use. From bank accounts, social media to digital wallets, millions of users struggle to keep up with memorizing dozens of passwords. Research shows that over $140billion worth of Crypto assets has been lost due to forgotten passkeys, lost devices and mismanagement of user access authorization.
Magic is an innovative platform making giant strides in the user security and infrastructure space. The platform has unique products that help to streamline user authentication and account security management processes.
By integrating Magic on Cook Finance, our users can now gain exclusive access to state-of the art security protocols and easy access to our DeFi index products without having to navigate complex wallet integration processes. No more passwords. No Seed Phrases. No need to download browser extensions. Magic provides passwordless login methods which users are already familiar with, which generates a crypto wallet under the hood for every user account in order to access the Cook Finance app.
Our aim at Cook Finance is to create a safe, secure and equitable ecosystem for everyone around the world to participate and flourish. The partnership with Magic is set to move us one step closer towards achieving this.
Magic is a developer SDK that integrates with your application to enable passwordless authentication. Magic enables blazing-fast, hardware-secured, passwordless login with a few lines of code — even if you have an existing auth solution.
The platform brings a much-needed breath of fresh air and vital efficiency into how DeFi/Web3 users manage their Wallet Integration and different login authentication across various meta-services that they are subscribed to. Quite importantly, it will help Cook finance users and token holders manage their funds securely without having to deal with the complexities of managing a wallet.
Magic brings a unique suite of enhanced security infrastructure tools to the Cook Protocol DeFi Ecosystem. Some of their services Include:
- Email Magic: Offers a smooth, secure alternative to login credentials with an email.
- SMS Login: Allows users to log in using a one-time code sent to their mobile device.
- Social Logins: Allows users to log in using a one-time code sent to their mobile device.
- Secure Auth Features: Enhanced Security with FIDO2 devices, biometric login, or multi-factor auth
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