Easiest way to see it is as a decentralized Binance. Not a Dex. DEXes are just frontends to a blockchain. Thats what Altera is.
Magi is a crosschain hub that connects different blockchains in a fully decentralized manner. Thats why our witnesses run nodes for every blockchain we integrate.
It solves movement of value between blockchains without any wrapping involved.
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