Binance Labs, the venture capital arm and incubator of Binance, has invested in MilkyWay, a liquid staking protocol for the blockchain ecosystem modular from Celestia. MilkyWay aims to be the leading modular liquidity provider for rollups that rely on Celestia for Data Availability, unlocking the liquidity, composability and utility of TIA tokens to increase capital efficiency for token holders.
Yi He, Co-Founder of Binance and Lead of Binance Labs, said: “We support the enrichment of the Celestia ecosystem in the Binance Labs portfolio and this investment from Binance Labs supports an innovative project that drives use cases within the Celestia ecosystem. We look forward to the growth and development of MilkyWay within the modularity data availability space.”
Founded by a team of engineers and creators from Tendermint, Osmosis, Cosmostation, Oak Security, and Composable Finance, MilkyWay has grown to serve over 156,000 milkTIA holders and has over 2.6 million TIA tokens staked since inception. MilkyWay has seamlessly integrated with more than ten DeFi protocols to offer a holistic user experience that spans trading, leveraging, and lending activities, allowing users to earn additional yields beyond the network's native staking rewards.
JayB, founder and CEO of MilkyWay, said: "MilkyWay is a liquid staking protocol designed specifically for the modular ecosystem. Our goal is to build the most secure and robust modular liquid staking protocol while continually innovating to expand our protocol’s capabilities within the modular ecosystem through cutting-edge technology. We are honored and excited to have Binance Labs’ support in realizing this vision.”
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About or MilkyWay
MilkyWay, launched in December 2023, is a pioneering liquid staking protocol within the modular ecosystem, serving over 150,000 users. Its LST, milkTIA, is integrated into more than 10 DeFi applications across the ecosystem. MilkyWay is currently developing a rollup package that will serve as a foundational layer, enabling its LST to provide enhanced security services across the modular ecosystem. For more information, follow MilkyWay on X.
About Binance Labs
As the venture capital arm and accelerator of Binance, Binance Labs is now worth over $10 billion. Its portfolio covers 250 projects from more than 25 countries on six continents and has an investment return rate of more than 14 times. Fifty of the Binance Labs portfolio companies are projects that have gone through our incubation programs. For more information, follow Binance Labs on X.
Risk Warning: The information provided in this article is for informational purposes only and does not constitute investment advice, endorsement, analysis or recommendations with respect to any financial instruments, investments or issuers. This article may contain forward-looking statements that are, by their nature, subject to risks and uncertainties. Investing in cryptocurrency and DeFi projects involves substantial risks, including the risk of total loss. This article does not take into account the investment objectives, financial situation or specific needs of any particular person and each individual is urged to consult their legal and financial advisors before making any investment decision.
