岩漿金融：SUI上的VE（3,3）DEX

分散的金融（DEFI）景觀正在不斷發展，新的創新推動了可能的界限。

The decentralized finance (DeFi) landscape is constantly evolving, with new innovations pushing the boundaries of what’s possible. At the heart of this evolution are decentralized exchanges (DEXs), which have become the backbone of DeFi by enabling trustless, permissionless trading. However, as the space matures, the need for sustainable liquidity, aligned incentives, and scalable infrastructure has never been greater.

分散的金融（DEFI）景觀正在不斷發展，新的創新推動了可能的界限。這種演變的核心是分散交流（DEX），通過實現無信任的，無許可的交易，它們已成為Defi的骨幹。但是，隨著空間的成熟，對可持續流動性，一致激勵措施和可擴展基礎設施的需求從未如此大。

Here we introduce Magma Finance, a next-generation ve(3,3) DEX built on the Sui network. Inspired by the success of protocols like Uniswap, Curve, Shadow, and Aerodrome, Magma Finance is designed to bring the power of ve(3,3) to Sui, creating a vibrant and sustainable liquidity ecosystem.

在這裡，我們介紹了Magma Finance，這是在SUI網絡上構建的下一代VE（3,3）DEX。受UNISWAP，曲線，影子和機場等協議成功的啟發，岩漿融資旨在將VE（3,3）的力量（3,3）帶到SUI，創造出充滿活力且可持續的流動性生態系統。

Why build on Sui?

為什麼在Sui上建立？

The Sui network is a next-generation Layer 1 blockchain designed for scalability, speed, and security. For a protocol like Magma Finance, Sui offers several key advantages:

SUI網絡是下一代第1層區塊鏈，旨在可擴展性，速度和安全性。對於像岩漿金融這樣的協議，Sui提供了幾個關鍵優勢：

• High Throughput & Low Latency: Sui is capable of handling a large volume of transactions per second (TPS) with minimal latency. This is crucial for a DEX that needs to process trades quickly and efficiently, especially during periods of high activity.

•高吞吐量和低潛伏期：SUI能夠以最小的延遲處理大量的每秒交易（TPS）。這對於需要快速有效地處理交易的DEX至關重要，尤其是在高活動期間。

• Pay-Per-Use Gas Model: Sui adopts a pay-per-use gas model, ensuring that users only pay for the computational resources used by their transactions. This optimizes gas fees and provides a more cost-effective experience for traders and liquidity providers.

•付費每次使用氣體模型：SUI採用按使用付費的氣體模型，確保用戶僅支付其交易所使用的計算資源。這樣可以優化汽油費，並為貿易商和流動性提供商提供更具成本效益的體驗。

• Advanced Programming Language: Sui utilizes an advanced programming language (Move) that enables the development of complex and feature-rich smart contracts. This allows protocols like Magma Finance to implement sophisticated functionalities and adapt to evolving market needs.

•高級編程語言：SUI使用了高級編程語言（移動），從而可以開發複雜和功能豐富的智能合約。這允許諸如岩漿財務之類的協議可以實施複雜的功能並適應不斷發展的市場需求。

By building on Sui, Magma Finance is positioned to leverage these cutting-edge features to deliver a superior trading experience, attract deep liquidity, and foster a strong community.

通過在SUI上建造，Magma Finance可以利用這些尖端的功能來提供卓越的交易體驗，吸引深厚的流動性並促進一個強大的社區。

The evolution of DEXs: From fragmentation to collaboration

DEXS的演變：從分散到協作

Decentralized exchanges have come a long way since the early days of DeFi. Platforms like Uniswap and SushiSwap introduced automated market-making (AMM) mechanisms, enabling users to trade assets without intermediaries. However, as the DeFi ecosystem grew, so did its challenges:

自從Defi早期以來，分散的交流已經走了很長一段路。諸如UNISWAP和SUSHISWAP之類的平台引入了自動營銷（AMM）機制，使用戶能夠在沒有中介機構的情況下進行交易。但是，隨著Defi生態系統的發展，其挑戰也是如此：

• Liquidity Fragmentation: As new DEXs emerged, they often drained liquidity from existing protocols, leading to a competitive and fragmenting landscape.

•流動性碎片化：隨著新DEX的出現，它們經常從現有方案中耗盡流動性，從而導致競爭性和分散的景觀。

• Short-Term Incentives: Many DEXs focused on immediate gains, neglecting the long-term sustainability of their ecosystems.

•短期激勵措施：許多DEX專注於立即收益，忽略了其生態系統的長期可持續性。

• Lack of Scalability: As DeFi protocols scaled, existing DEX technology struggled to keep pace with increasing throughput demands.

•缺乏可伸縮性：隨著DEFI協議的擴展，現有的DEX技術努力與增加的吞吐量需求保持同步。

To address these challenges, a new wave of DEXs leveraging the ve(3,3) model has emerged. Protocols like Velodrome, Aerodrome, and Thena have demonstrated the power of this model, fostering deep liquidity, aligned incentives, and strong communities.

為了應對這些挑戰，已經出現了一個新的DEX浪潮（3,3）模型。賽車室，機場和THEA等方案已經證明了該模型的力量，促進了深厚的流動性，一致的激勵措施和強大的社區。

What is ve(3,3)?

什麼是VE（3,3）？

The ve(3,3) model is a new approach to decentralized exchange design, combining vote-escrowed governance with game theory principles to create a self-reinforcing ecosystem.

VE（3,3）模型是一種分散交換設計的新方法，將投票權的治理與遊戲理論原理相結合，以創建自我增強生態系統。

How it works:

它的工作原理：

1. Liquidity providers (LPs) stake their tokens to earn exchange fees.

1。流動性提供者（LPS）將其令牌籌集以賺取交易費。

2. LPs can vote-escrow their governance tokens (e.g. MAGMA) for a specific duration, locking their voting power.

2. LP可以在特定的期限內投票支持其治理令牌（例如岩漿），從而鎖定其投票權。

3. Voting is used to allocate exchange revenue to LPs and adjust protocol parameters.

3。投票用於將交換收入分配給LPS並調整協議參數。

4. Longer vote-lock periods grant more voting weight, incentivizing long-term alignment.

4。較長的投票時期給予更多的投票權重，激勵長期一致性。

Key Benefits of ve(3,3):

VE的主要好處（3,3）：

• Sustainable Liquidity: ve(3,3) protocols are designed to retain liquidity over the long term, encouraging deep markets.

•可持續流動性：VE（3,3）方案旨在長期保留流動性，鼓勵深層市場。

• Aligned Incentives: The model fosters alignment between liquidity providers, traders, and the protocol itself.

•一致的激勵措施：模型促進了流動性提供者，交易者和協議本身之間的一致性。

• Community Governance: Vote-escrowed governance empowers the community to decide on the protocol's future.

•社區治理：投票支持的治理使社區有能力決定協議的未來。

Magma Finance: The ve(3,3) DEX on Sui

岩漿金融：SUI上的VE（3,3）DEX

Building on the success of ve(3,3) pioneers like Velodrome, Aerodrome, and Thena, Magma Finance is bringing this innovative model to the Sui network.

在VE（3,3）先驅等Velodrome，Aerodrome和Thena的成功基礎上，Magma Finance將這種創新的模型帶到了Sui Network。

What sets Magma apart?

是什麼使岩漿與眾不同？

• Cutting-Edge Technology: Magma Finance combines the ve(3,3) with Sui’s high throughput, low latency, and advanced programming language to create a superior trading experience.

•尖端技術：岩漿金融將VE（3,3）與SUI高吞吐量，低潛伏期和高級編程語言相結合，以創造出色的交易體驗。

• Sustainable Liquidity Strategy: The protocol is designed with a strong focus on sustainable liquidity, ensuring the long-term viability of the Magma ecosystem.

•可持續流動性策略：該協議的設計非常重視可持續流動性，以確保岩漿生態系統的長期生存能力。

• Community-Driven: Magma Finance values community input and integrates feedback mechanisms to adapt to the evolving needs of its users.

•社區驅動：岩漿融資價值社區輸入並整合反饋機制，以適應其用戶不斷發展的需求。

Magma Finance's growth and TVL expansion

岩漿金融的增長和TVL擴展

Since its launch, Magma Finance has demonstrated strong adoption and liquidity growth. The protocol has attracted increasing participation from liquidity providers, with Total Value Locked (TVL) showing significant expansion over the past weeks.

自推出以來，岩漿財務已表現出強大的採用和流動性增長。該協議吸引了流動性提供者的參與日益增加，在過去幾周中，總價值鎖定（TVL）顯示出顯著的擴張。

This rapid increase in liquidity highlights the confidence of users and investors in Magma Finance’s model and its role in the growing Sui

流動性的快速增加凸顯了用戶和投資者對岩漿財務模型及其在不斷增長的SUI中的作用的信心