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MagmaDAO

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Category: Staking

Magma

Magma is a community-powered liquid staking protocol on the Monad blockchain. It allows users to stake MON tokens and receive gMON, a liquid staking token (LST), which can be used in DeFi applications. The protocol delegates staked assets to top validators who participate in the Magma auction to generate MEV (Maximal Extractable Value) rewards. These rewards are shared with stakers, boosting their APY. Magma's community members participate in decision-making to align the protocol's long-term direction within the Monad ecosystem. The platform is backed by several venture capital firms, including Animoca Ventures, CMS, and Stake Capital, and partners with numerous validators such as Alchemy, Blockdaemon, and Figment.
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Funding Rounds

Funding Round: Seed
Funding Date: 30 Oct, 2024
Raised Amount: $3.9M
Funding Round: Seed
Funding Date: 1 Oct, 2024
Raised Amount: $3.9M

Investors