The Liquid Staking protocol aPriori has secured an $8 million seed round led by Pantera Capital , bringing its total fundraising to date to $10 million.
The company said in a statement Thursday that the fundraising round also attracted participation fromOKX Ventures , CMS Holdings, ABCDE, Gumi Cryptos Capital, Flow Traders, Laser Digital, Chorus One, Everstake Capital, and Stake Companies.
aPriori is excited to announce a $10M total fundraise, led by @panteracapital
aPriori is building the MEV-powered Liquid Staking platform for Monad pic.twitter.com/yX6HgUc9Du
— aPriori ⌘ (@aprMEV) July 25, 2024
Co-founder and CEO Ray S stated that the fundraising aims to value aPriori at a fully diluted Token price of at least $100 million.
Spencer Noon of OurNetwork, Marc Tillement of Pyth Network, Robinson Burkey of Wormhole Foundation, TN Lee of Pendle Finance, and Zano Sherwani of Jito Labs are among those participating as angel investors.
Apriori's liquid Staking protocol is supported by the concept of Maximal Extractable Value, thus increasing the incentive for validators on Monad.
According to Ray S, his company had previously developed a platform supporting MEVs similar to the Ethereum Virtual Machine but later chose to focus on building within the Monad blockchain ecosystem.
MEV allows miners to earn more money beyond Gas Price and block rewards.
Ray S stated that although aPriori is fully operational, it remains in the Devnet and will be ready to launch the testnet and mainnet as soon as the Monad blockchain is implemented.
Monad previously stated that it planned to launch Primary Network in 2024.
According to Ray S, once Monad goes live, users will be able to Stake their Monad Token using aPriori.
They will also be able to earn rewards and receive a pool of liquidation shares that can be used on decentralized finance applications.
Ray S stated:
“We have strong ties within the Monad ecosystem and its builders, with protocols leveraging our Liquid Staking Token (LST) going into the Monad Primary Network .”
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