Magma, the liquid staking protocol in the Monad ecosystem, completes $3.9 million seed round financing, with participation from Animoca Ventures and others.

BlockBeats news, on October 30, according to official news, the liquid staking protocol Magma in the Monad ecosystem announced the completion of a $3.9 million seed round of financing, with participation from Bloccelerate, Animoca Ventures, CMS Holdings, Maelstrom, Veil VC, Builder Capital, Infinity Ventures, RockTree Capital, Wise3 Ventures, Stake Capital, Relayer Capital, and others.

It is reported that Magma is building MEV-based liquid staking on Monad. In addition, Magma will collaborate with Ether.fi to establish the first re-staking integration on Monad.