Users will earn MEV-optimized staking rewards across the EVM-native L1’s DeFi ecosystem.
Magma has launched on Monad mainnet, allowing users to earn yield and points by staking their MON, the native token of the Monad network, while maintaining liquidity across the Monad DeFi ecosystem. Monad, the highly-anticipated Ethereum-compatible Layer-1 built for speed and low fees, has raised $248M and is targeting record-fast transaction confirmations and near-zero gas fees. Its decentralized app ecosystem has nearly over 100 projects ready to launch across DeFi, gaming, NFTs, and infrastructure.
With Magma, users stake MON to receive gMON, a liquid staking token designed to accrue MEV-optimized rewards. Magma’s MEV infrastructure routes more value back to stakers and the network, deepening liquidity across Monad DeFi and drawing on the same class of innovation that helped Jito reshape the LST category.
Magma’s early performance on Monad is tracking that path – routing MEV back to stakers, deepening liquidity, and enabling durable DeFi usage.”
To date, Magma has raised $4.2M in funding with participation from Bloccelerate, CMS Holdings, Animoca Ventures, Maelstrom, Veil VC, Builder Capital, Infinity Ventures, and others, alongside angels Meltem Demirors, Kartik Talwar, Mike Silagadze, Alan Curtis, and Ben Lakoff.
At mainnet, Magma will launch with leading validator partners like Blockdaemon and Figment, and is expanding DeFi utility through borrow and lend markets with Morpho, Euler, and others. The protocol has undergone reviews by top security auditors including Spearbit, Halborn, Zellic, and Zenith.
Magma is built by Hydrogen Labs, led by CEO David Mass and CTO Meir Bank. Hydrogen Labs brings deep protocol engineering experience and a history of shipping crypto financial applications across multiple L1s.
David Mass is available for interview.
About Magma
Magma is one of the leading decentralized liquid staking protocols built on the Monad Network, an Ethereum-compatible Layer 1 blockchain. Magma provides users with Monad’s liquid staking token (gMON), retaining liquidity to use across apps on Monad while continuing to earn staking yield and rewards. Magma’s MEV client will power one of the most competitive block engines in crypto, designed to capture value efficiently, scale liquidity, and drive long-term growth on Monad.
To learn more, visit: magmastaking.xyz.
About Monad
Monad is a Layer 1 Blockchain built from scratch that provides 10,000 TPS, single-slot finality, and 0.5s block times. Powered by consumer-grade hardware and 1:1 EVM compatibility, Monad delivers performance at scale for users and developers.
To learn more, visit monad.xyz.
Source: https://beincrypto.com/magma-launches-monad-mainnet/
