Customers will earn MEV-optimized staking rewards throughout the EVM-native L1’s DeFi ecosystem.
Magma has launched on Monad mainnet, permitting customers to earn yield and factors by staking their MON, the native token of the Monad community, whereas sustaining liquidity throughout the Monad DeFi ecosystem. Monad, the highly-anticipated Ethereum-compatible Layer-1 constructed for velocity and low charges, has raised $248M and is focusing on record-fast transaction confirmations and near-zero gasoline charges. Its decentralized app ecosystem has almost over 100 initiatives able to launch throughout DeFi, gaming, NFTs, and infrastructure.
With Magma, customers stake MON to obtain gMON, a liquid staking token designed to accrue MEV-optimized rewards. Magma’s MEV infrastructure routes extra worth again to stakers and the community, deepening liquidity throughout Monad DeFi and drawing on the identical class of innovation that helped Jito reshape the LST class.
“Monad represents one of many greatest alternatives in crypto at present,” mentioned David Mass, CEO and Co-Founding father of Magma. “Jito’s rise demonstrated that when MEV is structured to align incentives between validators, stakers, and builders, it turns into the clear path to sustainable development.
Magma’s early efficiency on Monad is monitoring that path – routing MEV again to stakers, deepening liquidity, and enabling sturdy DeFi utilization.”
Up to now, Magma has raised $4.2M in funding with participation from Bloccelerate, CMS Holdings, Animoca Ventures, Maelstrom, Veil VC, Builder Capital, Infinity Ventures, and others, alongside angels Meltem Demirors, Kartik Talwar, Mike Silagadze, Alan Curtis, and Ben Lakoff.
At mainnet, Magma will launch with main validator companions like Blockdaemon and Figment, and is increasing DeFi utility by way of borrow and lend markets with Morpho, Euler, and others. The protocol has undergone critiques by high safety auditors together with Spearbit, Halborn, Zellic, and Zenith.
“Our MEV shopper shall be integral to how Magma scales on Monad,” mentioned Meir Financial institution, CTO of Magma. “Our testnet efficiency has been excellent, and we’re working probably the most aggressive block engines, engineered to seize worth effectively and gasoline long-term development.”
“Establishments need two issues: predictable efficiency and clear guardrails,” mentioned Demetrios Skalkotos, Chief DeFi and Protocols Officer at Blockdaemon. “With Magma on Monad, we’re bringing our trusted playbook to the Monad ecosystem so bigger holders can take part and earn rewards with a dependable path for skilled staking from launch.”
Magma is constructed by Hydrogen Labs, led by CEO David Mass and CTO Meir Financial institution. Hydrogen Labs brings deep protocol engineering expertise and a historical past of transport crypto monetary purposes throughout a number of L1s.
David Mass is out there for interview.
About Magma
Magma is without doubt one of the main decentralized liquid staking protocols constructed on the Monad Community, an Ethereum-compatible Layer 1 blockchain. Magma supplies customers with Monad’s liquid staking token (gMON), retaining liquidity to make use of throughout apps on Monad whereas persevering with to earn staking yield and rewards. Magma’s MEV shopper will energy probably the most aggressive block engines in crypto, designed to seize worth effectively, scale liquidity, and drive long-term development on Monad.
To be taught extra, go to: magmastaking.xyz.
About Monad
Monad is a Layer 1 Blockchain constructed from scratch that gives 10,000 TPS, single-slot finality, and 0.5s block occasions. Powered by consumer-grade {hardware} and 1:1 EVM compatibility, Monad delivers efficiency at scale for customers and builders.
To be taught extra, go to monad.xyz.