- Binance Labs invests in aPriori, boosting MEV-powered liquid staking on Monad.
- aPriori raises $10M total, backed by Pantera and Binance Labs for Monad development.
- aPriori to enhance Monad’s performance and decentralization with new funding.
Binance Labs has announced an investment in aPriori, a Miner Extractable Value (MEV)- powered liquid stacking protocol on Monad, a high-performance Ethereum compatible L1 smart contract platform. This investment will boost the project’s development, team expansion, and security.
Binance Labs Funds aPriori
According to the statement, Binance’s venture capital arm has invested in aPriori, a platform that aims to decentralize the Monad blockchain and reduce gas prices. The new funding will allow aPriori to grow its team, improve security, and optimize blockchain performance. Furthermore, it will support significant research initiatives.
Yi He, the co-founder of Binance Labs, expressed delight in backing the firm’s vision and restated his commitment to supporting projects that drive blockchain innovation.
aPriori’s CEO, Ray, highlighted the company’s focus on developing an MEV-powered liquid staking platform on Monad. He lauded Binance Labs’ support, noting that it would help introduce new products designed for high-throughput, parallel EVM networks.
Recent Funding and Expansion
The platform recently gained significant traction, raising $8 million in a seed funding round led by Pantera. Other participants included CMS Holdings, ABCDE, OKX Ventures, Laser Digital, and Staking Facilities. This effort increased aPriori’s total funding to $10 million.
aPriori aims to decentralize the Monad network, leveraging high performance to create new market possibilities. The project aims to enhance user experience by reducing gas fees, optimizing network traffic, and creating sustainable incentives for validators.
aPriori was incubated through Season 6 of the Binance Labs Incubation Program. This program supports early-stage Web3 projects, providing strategic support and funding. With the fresh funding, aPriori plans to accelerate research and development efforts, bolster security protocols, and work towards optimizing blockchain performance for mass adoption.
This partnership highlights Binance Labs’ ongoing support for projects pushing blockchain innovation’s boundaries.
aPriori is building MEV infrastructure and liquid staking services on Monad. The team comprises professionals from Jump Crypto, Coinbase, Bridgewater, Protocol Labs, D.E. Shaw, Pyth Network, and Flow Traders.
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