The Magma Storyteller campaign finally ends today! It was originally scheduled for 1 PM, but the deadline has been changed to 11:59 PM. We'll have to wait until then for the results, but I hope we make it into the Top 20🙏 The most exciting recent change in the Sui ecosystem is that LP tokens, the liquidity tokens deposited in Magma, are now becoming powerful collateral assets in their own right. Previously, providing liquidity felt like your funds were locked in that pool. Now, however, Magma allows users to stake those LP tokens in other lending protocols and use them to borrow additional funds, a strategy known as "Money Lego." Because Magma's liquidity is so robust, major lending platforms are recognizing Magma LP as the most reliable collateral. For users who invest through Magma, they can earn staking rewards and transaction fees while also pursuing other investment opportunities with their borrowed funds, maximizing capital efficiency. Magma's complex revenue structure will likely provide a strong foundation for portfolio defense even in bear markets. Thank you for joining the Magma Storyteller Campaign.🫡
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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