Ecosystem projects on the SUI chain, to be honest, are hard to research. Supported by the SUI Foundation, most act low-key, do not announce financing in advance, and will not leak information to avoid attracting farmers
Back then, Walrus quietly announced 130 million financing only a day before TGE, directly freeing a batch of early users in the SUI chain ecosystem's airdrop, rewarding real users, and hoping these people can stay, so for good projects on SUI, many times the news is passed word of mouth among group friends
Today I’m going to talk about a very new project, let's study it together
🌈 Project background
@Magma_Finance is a newly born Defi project, positioned as the liquidity center of the SUI chain, benchmarking against SOL's Meteora
Magma's liquidity strategy is Adaptive Liquidity Market Maker (ALMM), which can effectively improve capital efficiency and user experience. Everyone should interact with the testnet and see that there is no slippage, and the LP formation efficiency is very high!
🔹 But this project is very early, with no financing and founding team announced, and no real-name verification. I have some concerns about this point, I'm not sure if there will be a big surprise later, because these people on the SUI chain like to play this way
In my judgment, new projects on the SUI chain are all supported by foundation bigwigs, it is impossible to have no financing
The key is that this guy just launched a test mainnet last week, and there are clearly point airdrop rewards
🔸 Previously, Walrus also made a fortune by earning from the testnet, don’t underestimate the SUI ecosystem, it’s really not competitive with few people
🏄♂️ Airdrop interaction
Underrated non-competitive projects can be bet on, if it turns out to be the second Walrus, then it would be a big success
There are two ways to interact 🔹 Mainnet earn points 🔹 Galaxy complete tasks, let me explain
1⃣ Earn points on the mainnet
There are four ways to earn points from @Magma_Finance: forming liquidity pools LP, Swap (stablecoin swaps I tried don't earn points), invitations, daily check-ins
You can simply and brutally go Swap, or directly form LP pools to earn points every day
The yield from forming LP is not bad, forming 100U earns 100 points a day, and there are token rewards from the foundation in SUI trading pairs
I found the leaderboard is not competitive, we are currently early participants, there are indeed many opportunities on the SUI chain
Official website: https://app.magmafinance.io/point
If everyone is willing, you can use my invitation code, thank you very much
Invitation code: MLHOOC
In this leaderboard, the tenth place only has more than 2000 points, equivalent to 100U being deposited for more than 10 days, it’s really not competitive
❤ But I want to remind you of the risks, I personally am playing this like a lottery project with a small position, I won't go heavy, everyone don't get too excited with Fomo
2⃣ Galaxy galxe tasks
Log in to the official website, 6 tasks, all zero-cost, the answer to the 4th questionnaire is CBAB
https://app.galxe.com/quest/MagmaFinance/GCizytfkym?referral_code=GRFr2Jqgqam71XCoZtLFcKar735iRfxt_VGYekQ1Rr-13X-
Daily check-ins and social tasks are very simple, I won't provide screenshots for demonstration
✅ Summary
Magma is an ultra-early project, my suggestion is:
1) Early participation is the best time to interact with a project, you can fully track the project's development, and the rewards for early users are the richest
2) The convention on the SUI chain is not to announce financing in the early stages, I bet that this project must have financing, everyone can try it out
I'm taking a small position for a gamble, everyone should decide based on their own situation, treat it like a lottery
End of article
