NewsletterBinance Labs Backs MilkyWay For Liquid Staking Revolution
Highlights
- Binance Labs invests in MilkyWay, a liquid staking protocol in Celestia's ecosystem, aiming to enhance liquidity and utility for TIA token holders.
- MilkyWay raises $5 million in a seed round with support from prominent investors like Polychain Capital and Binance Labs, highlighting confidence in its vision.
- MilkyWay has quickly become a leader in liquid staking, boasting over 156,000 milkTIA holders and seamless integration with DeFi protocols.
Binance Labs, the venture capital and incubation arm of Binance, has invested in MilkyWay, a liquid staking protocol operating within Celestia’s modular blockchain ecosystem. The investment aims to support MilkyWay’s mission of revolutionizing liquid staking by providing modular liquidity for rollups dependent on Celestia for Data Availability.
MilkyWay’s objective is to enhance the liquidity, composability, and utility of TIA tokens, thereby increasing capital efficiency for token holders. This investment is part of a $5 million seed round led by Polychain Capital and reflects Binance Labs’ strategic focus on backing innovative projects within the Celestia ecosystem.
MilkyWay Secures Funding from Leading Investors
MilkyWay, the liquid staking protocol, has successfully raised $5 million in a seed round, with participation from prominent investors such as Polychain Capital, Binance Labs, Hack VC, Crypto.com Capital, and LongHash Ventures.
This funding underscores the confidence of investors in MilkyWay’s vision to become the leading liquid staking protocol within the modular blockchain ecosystem, particularly within Celestia’s ecosystem. Yi He, Co-Founder of Binance and Head of Binance Labs, expressed support for MilkyWay’s growth and development, highlighting the significance of enriching the Celestia ecosystem through innovative projects like MilkyWay.
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MilkyWay: Leading the Liquid Staking Revolution
MilkyWay, founded by a team of experienced engineers and builders from Tendermint, Osmosis, Cosmostation, Oak Security, and Composable Finance, has rapidly emerged as a prominent player in the liquid staking space. With over 156,000+ milkTIA holders and over 2.6 million TIA tokens staked since its inception, MilkyWay has established itself as a trusted platform for users seeking to maximize their returns through liquid staking.
MilkyWay’s seamless integration with over ten DeFi protocols offers users a comprehensive suite of financial services, including trading, leveraging, lending, and borrowing, further enhancing the utility and value proposition of the platform.
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