Magma, the Monad ecosystem liquid staking protocol, completes $3.9 million seed round financing with participation from Animoca Ventures and others.

The Monad ecosystem liquid staking protocol Magma has announced the completion of a $3.9 million seed round financing, with participation from Bloccelerate, Animoca Ventures, CMS Holdings, Maelstrom, Veil VC, Builder Capital, Infinity Ventures, RockTree Capital, Wise3 Ventures, Stake Capital, and Relayer Capital. It is reported that Magma is building MEV-based liquid staking on Monad.