Just-In: Binance Labs Invests In This Liquid Staking Protocol
Highlights
- Binance Labs invests in liquid staking protocol aPriori.
- The platform will bolster security as well as improve research.
- Binance Labs restated its commitment to support crypto projects.
Binance Labs has announced an investment in aPriori, an MEV-powered liquid staking protocol. The funding will enable the projects to expand, boost security, and optimize performance. Binance Labs continues to support new and innovative crypto-based companies in a bid to drive overall market growth.
Binance Labs Funds aPriori
The venture capital arm of the largest crypto exchange by trading volume announced investments in aPriori, a platform aimed at decentralizing the Monad blockchain and reducing gas fees among other functions. According to the released aPriori will expand the team, enhance security, optimize the blockchain performance, and fund research.
“Binance Labs, the venture capital and incubation arm of Binance, has invested in aPriori, a project focused on Miner Extractable Value (MEV)- powered liquid staking solutions on Monad, a high-performance Ethereum compatible L1 smart contract platform.”
The company was selected through the Incubation Program with the move hailed by both participants to innovate around web3. Yi He, the co-founder of Binance Labs expressed delight to back the firm’s vision and restated commitment to support projects to drive blockchain innovation.
“Binance Labs is proud to back aPriori’s vision to pioneer MEV-powered liquid staking solutions. We are always on the lookout for early-stage projects with potential, and this investment marks our commitment to supporting pioneering projects that drive the next wave of blockchain innovation, and we look forward to seeing aPriori redefine the landscape.”
On their part, Ray the CEO of aPriori noted the company builds a MEV-powered liquid staking on Monad lauding the support to introduce new products for networks.
Also Read: Ripple CEO Brad Garlinghouse Spotlights Another Win Against US SEC, Gensler
aPriori Gains Traction
The platform has received mainstream adoption recently as crypto firms pour in funds. Last week, the project raised $8 million in a new seed funding round with several participants. Let by Pantera, other firms include CMS Holdings, ABCDE, OKX Ventures, Laser Digital, and Staking Facilities, among others. This effort took the firm’s total funding to $10 million.
aPriori seeks to decentralize the Monad network as the blockchain leverages high performance driving new possibilities in the market.
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