Things started out very casually.
That day, the intern simply opened the DuskEVM testnet, casually clicked on the most recent contract interaction records to see who was using it and deploying what. Most names were familiar, but occasionally there would be some addresses that were clearly temporary tests.
But in the middle, there was a name I had never seen before: Magnetar Finance.
Unlike a meme, and certainly not a disposable test account, the contract calls are not scattered; there is continuous behavior, so I took note of this name.
The next step is GitHub.
Directly search for the project name, not expecting much. I initially thought I would see at most one or two repositories, but it turned out to be an organization account with a row of repos underneath.
At first glance at the name: contract, routing, indexer, front-end, wallet, and several modules that are obviously tools and infrastructure.
I opened the submission records and found that they were not piled up on the same day, but were updated every few days. Someone is continuously maintaining it.
Continuing to scroll down. The repository structure is not chaotic, and many places can be seen as having been forked from mature DeFi projects, but it has begun to adapt to DuskEVM. Comments, directory structure, and file naming are consistent, indicating that this is not a temporary patch.
Then I clicked on a link that looked unimportant: design system.
I originally thought it couldn't be opened, but it turned out to be a deployed page containing a complete component system: buttons, forms, interactive states, indicating that the front-end and contracts are being advanced in sync.
Continuing to find along the design system, I found the planned page structure. The DEX section has trading, liquidity, governance, and data panels, corresponding exactly to the contracts and indexer repositories seen earlier.
The wallet section has also been dismantled: assets, transfers, bridge, payments, each part can be found in the corresponding location in the repository.
At this point, basically no more guessing is needed.
A clear DeFi project is emerging, and the testnet has been online for a short time, having built almost all the basic modules. The only thing that can be confirmed at present is: this project does exist and is being pushed forward.
The whole process had no insider information and no prior notice; this was a general inspection and an unexpected discovery $DUSK #dusk .