Magma, the liquidity staking protocol in the Monad ecosystem, has successfully completed a $3.9 million seed funding round. The investment was backed by prominent investors, including Bloccelerate, Animoca Ventures, CMS Holdings, Maelstrom, Veil VC, Builder Capital, Infinity Ventures, RockTree Capital, Wise3 Ventures, Stake Capital, and Relayer Capital.
Magma is developing MEV-based liquid staking solutions on the Monad platform. In addition, Magma has formed a strategic partnership with Ether.fi to create the first re-staking integration on Monad, paving the way for enhanced liquidity and staking capabilities within the ecosystem.
[Source](https://m.theblockbeats.info/news/268537)
