Monad Ecosystem’s Liquidity Staking Protocol Magma Secures $3.9M in Seed Funding
Magma, the liquidity staking protocol of the Monad ecosystem, has successfully raised $3.9 million in a seed funding round. The round saw participation from 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 a MEV-based liquid staking solution on the Monad network. Furthermore, Magma will collaborate with Ether.fi to establish the first re-staking integration on Monad, enhancing the ecosystem’s capabilities and offerings.
[Source](https://m.theblockbeats.info/news/268537)
