Yes. MAGMA is Magma Finance, a permissionless DEX on Sui using an Adaptive Liquidity Market Maker to concentrate liquidity, with MAGMA used for governance and LP incentives. Protocol and token launched in 2025.

Bithumb added MAGMA to the KRW spot market. The official title is [마켓 추가] 마그마파이낸스(MAGMA) 원화 마켓 추가, notice https://feed.bithumb.com/notice/1655524, detected 2026-11-05 06:50:40 UTC.

Deposits opened around 1h 14m after detection, trading was set for 09:00 UTC on 2026-11-05, per https://newlistings.pro/listings/bithumb/magma-1069he17l07?utm_source=tg.

Price at detection was about $0.4391, up 12% since listing and up 17% in 24h, with market cap about $120M and FDV about $390M, per CoinGecko data shown on that page.