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Binance Labs Announces New Investment in Liquid Staking Platform on Layer-1 Chain Monad

July 30, 2024

The investment arm of Binance has put new capital into aPriori, a startup that aims to create liquid staking solutions for the Monad blockchain.

In a recent announcement, Binance Labs says the investment will assist aPriori in expanding its team and research to optimize the high-performance network for widespread adoption.

According to the press release, aPriori aims to enhance the Monad user experience by reducing fees and boosting network efficiency through its Miner Extractable Value (MEV) platform.

The company says that its approach will also generate new incentives for validators.

Says Yi He, co-founder of Binance and head of Binance Labs,

“We’re excited to support aPriori’s innovative work. This investment aligns with our focus on early-stage projects with the potential to reshape the blockchain industry.”

aPriori was nurtured through Binance Labs’ sixth incubation program. Applications are currently open for the seventh season.

Says aPriori CEO Ray,

“We at aPriori are developing an MEV-powered liquid staking platform on Monad. We’re thrilled to have Binance Labs’ support as we innovate and introduce novel products uniquely designed for high-throughput, parallel EVM (Ethereum Virtual Machine) networks.”

Last week, the crypto incubator led an investment round in the game finance (GameFi) publishing platform Pluto Studio whose first game Catizen was deployed on the Telegram TON blockchain.

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