Magic Labs, a leading wallet infrastructure provider, has recently announced the launch of Magic Newton on Coinbase’s layer-2 Base blockchain. This new AI agent platform aims to revolutionize autonomous finance and simplify crypto management for users.
According to a press release shared with Cryptonews, Magic Newton is being dubbed as “the first verifiable crypto copilot.” It allows users to delegate tasks to intelligent onchain agents and automate them while ensuring that users retain full control over their assets.
To guarantee transparency and trustworthiness, the Newton Protocol serves as the trust infrastructure for Newton. By combining preventative measures, cryptographic verification, and reputation management, the platform ensures that agents remain trustworthy regardless of the complexity of the financial actions and the number of blockchains involved.
The Genesis launch of Magic Newton also marks the introduction of the “black triangle moment,” inspired by PlayStation’s early development. This moment will serve as proof that the verifiable automation stack is fully integrated and operational, showcasing Newton’s capabilities through automated dollar-cost averaging and other use cases.
Looking ahead, Magic Labs plans to expand Newton to allow ecosystem participants to build and monetize secure agent-based automation services, enabling more advanced asset management strategies for users.
Magic Labs, backed by prominent investors such as PayPal Ventures, Placeholder, Lightspeed, and KX, has already formed partnerships with key projects, surpassing 50 million embedded wallets. These partnerships include Polymarket, Wallet Connect, Immutable, Helium, Forbes, and Naver, among others.
The platform also offers familiar Web2 login methods to help onboard the 200,000 dapp developers in its ecosystem and increase user adoption. Sean Li, co-founder and CEO of Magic Labs, emphasized the importance of maintaining trust while reducing friction in user onboarding.
With the introduction of Magic Newton, users can leverage trusted AI automation to enhance their crypto user experience. By instructing AI agents on desired tasks, users can securely execute transactions across multiple blockchains without compromising security or creating separate wallets for agents.
The Newton Protocol, developed by the Magic Newton Foundation and Magic Labs, utilizes a “prevent-then-verify” approach to ensure secure and reliable agent activity. Through proactive protection, validation through Trusted Execution Environments (TEEs), and a trust framework that rewards reliability and penalizes misbehavior, Newton aims to set a new standard for autonomous finance platforms.
In conclusion, the launch of Magic Newton on Base blockchain represents a significant step towards democratizing access to advanced asset management strategies through secure and transparent AI automation. The platform’s innovative approach to crypto management is poised to reshape the landscape of autonomous finance for users worldwide.