Key Takeaways:
- Binance Labs invested in aPriori, a liquid staking protocol on the Monad network focused on miner extractable value (MEV).
- aPriori closed an $8 million seed round led by Pantera Capital, valuing the startup at over $100 million.
- Monad Labs secured $225 million in funding, valuing it at $3 billion, as part of a trend where layer-1 networks raised nearly $400 million in Q2 2024.
Binance Labs has invested in aPriori, a liquid staking protocol on the Monad network, focused on miner extractable value (MEV).
Announced on July 30, this investment is part of a broader wave in Monad’s DeFi ecosystem.
We’ve invested in @aprmev
— Binance Labs Fund (@BinanceLabs) July 30, 2024
aPriori is creating an MEV-powered liquid staking platform on Monad.
Read more👇https://t.co/oaOIwPChU3
aPriori aims to create sustainable incentives for validators through innovative mechanisms for liquid staking tokens and MEV.
Monad is an Ethereum Virtual Machine-compatible layer-1 designed for high-throughput applications.
CEO Ray highlighted aPriori’s goal to introduce novel products for high-throughput, parallel EVM networks.
aPriori recently closed an $8 million seed round led by Pantera Capital, valuing the startup at over $100 million.
We are excited to announce @BinanceLabs as our investor. It's an honor to be their first investment within the Monad ecosystem.
— aPriori ⌘ (@aprMEV) July 30, 2024
We are continually impressed by @BinanceLabs' commitment to backing early-stage founders, supporting new ecosystems, and advancing the industry. Their… https://t.co/wkBhgohcd0
Monad Labs also secured $225 million in funding, valuing it at $3 billion.
According to Galaxy Research, layer-1 networks raised nearly $400 million in Q2 2024, with early-stage startups receiving about 80% of the funding.
aPriori was incubated in Binance Labs’ Season 6 program.