과거 이더리움의 커브 전쟁을 기억하시는 분들이라면 최근 Sui 생태계에서 벌어지고 있는 'Magma War'를 흥미롭게 지켜보고 계실거같네요 

여러 신규 프로젝트들이 자신들의 토큰 풀에 더 많은 $MAGMA를 할당받기 위해 거버넌스 권한을 공격적으로 확보하려 애쓰는 모습이 목격되고 있거든요

이는 $MAGMA 토큰이 단순한 보상 수단을 넘어 생태계의 자금 흐름을 결정하는 강력한 권력으로 작용하고 있다는 증거이기도 하죠

개인 투자자들은 이 과정에서 자신의 투표권을 특정 프로토콜에 위임하고 추가적인 인센티브를 받는 등 부수적인 수익원을 창출할 수 있게 되었습니다. 

프로토콜 간의 건강한 경쟁이 $MAGMA의 가치를 지탱하고 생태계 전체의 유동성을 풍부하게 만드는 선순환 구조가 정말 인상적이네요👀

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Those who remember the Curve Wars of the past on Ethereum will likely be watching the recent "Magma War" unfolding in the Sui ecosystem with interest.

We've seen several new projects aggressively securing governance rights to secure more $MAGMA allocations for their token pools.

This is further evidence that the $MAGMA token is no longer a simple reward, but rather a powerful force that determines the flow of funds within the ecosystem.

Individual investors can now delegate their voting rights to specific protocols and receive additional incentives, creating a secondary revenue stream.

The virtuous cycle of healthy competition between protocols supporting the value of $MAGMA and enriching liquidity throughout the ecosystem is truly impressive.👀

Author | Jeff Park (Chief Information Officer, Bitwise)
Compiled by Odaily Odaily(@OdailyChina)
Translator | Dingdang (@XiaMiPP)
Editor's Note: On February 5th, the cryptocurrency market experienced another crash, with over $2.6 billion liquidated in 24 hours. Bitcoin briefly plummeted to $60,000, but the market seems to lack a clear consensus on the causes of this decline. Bitwise CIO Jeff Park offers a new analytical framework from the perspective of options and hedging mechanisms.
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Renowned crypto investor Jack Yi used Aave revolving lending to build a $2 billion ETH position, only to see it crumble during the market crash [...]
The article, "Yi Lihua Completely Sells Off ETH! Trend Research Sells 650,000 Ethereum in a Week, Losing $730 Million," was originally published on BlockTempo, the most influential blockchain ABMedia media.

Yi Lihua completely liquidated his ETH holdings! Trend Research reportedly sold 650,000 Ethereum in a week, incurring a loss of $730 million before exiting the market.

Author | Jeff Park (Chief Information Officer, Bitwise)
Compiled by Odaily Odaily(@OdailyChina)
Translator | Dingdang (@XiaMiPP)
Editor's Note: On February 5th, the cryptocurrency market experienced another sharp drop, with over $2.6 billion liquidated in 24 hours. Bitcoin briefly plummeted to $60,000, but the market seems to lack a clear consensus on the causes of this decline. Jeff Park, CIO of Bitwise, offers a new analytical framework from the perspective of options and hedging mechanisms. [...]