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MagicBlock Announces $BLOCK Token Economics: 35% Allocated to the Community

PANews reported on February 3 that MagicBlock, the real-time engine for Solana applications, announced the economic model for its native token $BLOCK. MagicBlock introduced "Ephemeral Rollups (ERs)" technology, a lightweight, high-speed Solana virtual machine instance that can start instantly and optimize on-chain computing performance. The total supply of $BLOCK is 10 billion, with 35% allocated to community users, 15% to node operators, 20% to investors, 18% to the team and advisors, and 12% to the ecosystem fund. Team tokens will be locked for 3 years and will be unlocked gradually based on ecosystem growth milestones. Since the launch of MagicNet in June 2025, MagicBlock has processed over 1 billion transactions and attracted 27,000 unique addresses. MagicBlock has announced a presale of its $BLOCK tokens on February 5th. The presale offers two options: Option 1 is a first-come, first-served elastic curve model where tokens will be fully unlocked during the TGE (Token Generation Event); Option 2 is a fixed-price model (100M FDV), where tokens will be locked for one year after the TGE, prioritizing long-term supporters. The presale will be divided into two phases: a 24-hour priority period for whitelisted addresses on February 5th, followed by 48 hours open to all. The TGE is expected to take place from the end of Q1 to the beginning of Q2 2026. Previously, it was reported that MagicBlock completed a $7.5 million seed round of financing, led by Lightspeed Faction.
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Report: TradeFi contract trading volume accounted for 11% of total contract trading volume in the first five months of 2026.

According to a recent stablecoin industry report released by Binance Research on July 8th, in the first five months of 2026, TradeFi-related perpetual contracts accounted for approximately 11% of the total perpetual contract trading volume, with a cumulative trading value exceeding $1.1 trillion. Binance's trading value exceeded $500 billion, representing a market share of approximately 47%.

07-08 20:31

The Bank of Korea has released a regulatory proposal suggesting that personal stablecoin transactions exceeding $10,000 should be limited to transfers from verified wallets.

According to Mars Finance, the legal team of the Bank of Korea has published a research paper titled "Regulatory Scheme for Foreign Remittance Transactions Targeting Stablecoins," proposing regulatory recommendations for large-scale stablecoin transactions. The paper, referencing current South Korean foreign exchange control regulations, proposes constraints on stablecoin transfers exceeding $10,000 between individuals, requiring such transactions to be conducted only between officially certified wallets, along with a pre-reporting mechanism. The institution acknowledges that there are technical obstacles to fully controlling unregistered wallets, but due to anti-money laundering compliance requirements, it is necessary to strengthen restrictions on large-scale cross-border stablecoin fund flows. South Korean regulators have previously repeatedly stated the need to improve the monitoring system for cross-border crypto asset transactions using non-custodial wallets; this paper further refines and implements the regulatory approach.

07-08 20:22

Gate responded to online rumors of user asset theft: An urgent investigation is underway, and preliminary assessments indicate it is an isolated incident.

According to Foresight News , Gate responded to online reports of user assets being stolen, stating that the incident shows the customer made a withdrawal between 3:00 PM and 4:00 PM on July 7th, and reported the loss to online customer service at 5:00 PM on July 8th. Gate has initiated an investigation, and the incident is currently under urgent investigation. Preliminary assessments indicate it is an isolated case, there are no system security vulnerabilities, and the website is operating normally. Preliminary investigations suggest this incident may be related to a leak of user information; the specific details are under investigation. Gate will disclose further details as soon as the investigation concludes.

07-08 20:19

Justin Sun has staked $430 million in Ethereum on Lido, yielding an annualized return of approximately $9.5 million.

According to Odaily Lens monitoring, Justin Sun Sun has been continuously staking ETH through Lido Finance. 23 hours ago, Justin Sun staked another 13,000 ETH, worth approximately $23.08 million, bringing his total staked ETH on Lido to 247,436 stETH, currently valued at approximately $430.2 million. Data shows that since February 2023, this staking position has generated a total of 11,307 stETH staking profits, worth approximately $26.82 million. Based on the current profit level, Justin Sun position has an annualized return of approximately $9.5 million.

07-08 20:17

Guangdong: By the end of 2027, the province's urban digital infrastructure support capabilities will be significantly enhanced.

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07-08 20:10

Morgan Stanley reiterated its "overweight" rating on RKLB and raised its bullish price target to $293.

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