Magma Finance secures strategic funding to build the most adaptive liquidity engine on Sui
Magma Finance, the protocol constructing the most adaptive liquidity engine on Sui, is proud to announce the profitable completion of its strategic funding spherical.
The funding is backed by trade leaders corresponding to HashKey Capital, SNZ Holding, SevenX Ventures, Puzzle Ventures, and Topspin Ventures.
This spherical of fundraising additionally garnered important help from key DeFi ecosystem companions and angel buyers corresponding to NAVI Protocol, which reveals sturdy validation from established DeFi gamers bringing a complete financing of $6,000,000.
In addition, Magma achieved #1 ranked DEX at Sui Demo Day and gained a number of hackathons, reflecting sturdy validation and help from the Sui ecosystem and the broader DeFi neighborhood.
Solving the liquidity dilemma on Sui
Magma Finance is designed to align the pursuits of merchants, governance members, and liquidity suppliers. The protocol goals to ship a DEX with the greatest consumer expertise and capital effectivity in the ecosystem.
Despite Sui’s sturdy efficiency, the present DEX panorama suffers from basic capital inefficiencies. Traditional CLMMs (Concentrated Liquidity Market Makers) typically end in fragmented liquidity and high administration friction, main to low returns for LPs and poor execution for merchants.
Magma Finance addresses these crucial bottlenecks by:
- Consolidating fragmented liquidity: By aggregating idle capital, Magma will increase market depth and boosts payment revenue for LPs.
- Automating administration friction: Removing the problem of guide bin changes and making professional-grade market making accessible to retail customers.
- Streamlining asset launches: Magma introduces a extremely environment friendly launch platform that enables new belongings on Sui to bootstrap liquidity seamlessly.
Security first
By prioritizing consumer security and protocol integrity, Magma Finance has efficiently accomplished complete safety audits with top-tier corporations Zellic and Three Sigma. These studies are publicly accessible and it ensures transparency and code robustness prior to our subsequent main milestones.
About Magma Finance
Magma Finance is the adaptive liquidity layer on Sui. By fixing the “Launch-and-Sustain” downside for belongings, Magma supplies a sustainable liquidity incentive engine that drives the subsequent wave of DeFi adoption on Move.
Official hyperlinks:
- Website: https://magmafinance.io/
- Twitter: https://x.com/Magma_Finance
- Discord: https://discord.com/invite/magmafinance
- Docs: https://magma-finance-1.gitbook.io/
- Audits: https://github.com/MagmaFinanceIO/audit-reports
Media contact
Louise Sanchez
Marketing Manager
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