Bithumb Plans Magma Finance Won Pair With Nov. 5 Trading Start

Bithumb announced plans to list Magma Finance (MAGMA) against the Korean won, a move that would give the Sui-based token a fiat trading pair on the South Korean exchange.

Trading for the MAGMA/KRW pair was scheduled to begin Nov. 5 at 4 a.m. ET (09:00 UTC). Bithumb set a 518-won reference price for the planned market.

Magma Finance is a decentralized liquidity protocol on Sui that offers token swaps and liquidity pools. MAGMA is used for staking and governance. Bithumb specified that deposits would be supported only through the Sui network.

Under the launch terms, buy orders would be barred for the first five minutes of trading. Only limit orders would be permitted for about the first two hours.