Seed Round

Magma has successfully raised $3.9 million in seed funding to enhance its MEV-powered liquid staking system on the Monad blockchain. The funds will be utilized to build out features that allow users to stake $MON tokens for $gMON, a DeFi token for trading, lending, and borrowing. This community-driven protocol empowers members to participate in governance and aligns with the long-term vision of the ecosystem. Additionally, Magma will partner with Ether.fi to build the first Restaking integration on Monad, further expanding its offerings in the DeFi space. The funding round reflects the increasing interest in decentralized finance solutions and innovative liquid staking mechanisms. The investment is expected to accelerate the development of Magma's platform and enhance user engagement within the Monad ecosystem.