MilkyWay, a liquid staking protocol operating within the Celestia ecosystem, has secured $5 million in seed funding with support from Binance Labs and Polychain Capital. Binance Labs, the investment and incubation division of Binance, has chosen to invest in MilkyWay, a liquid staking protocol that functions within Celestia's adaptable blockchain environment. This investment is intended to aid MilkyWay in its goal of transforming liquid staking by offering adaptable liquidity for rollups reliant on Celestia for Data Availability.

The primary objective of MilkyWay is to improve the liquidity, composability, and usefulness of TIA tokens, ultimately boosting capital efficiency for token holders. This funding is part of a $5 million seed round led by Polychain Capital and demonstrates Binance Labs' strategic emphasis on supporting groundbreaking initiatives within the Celestia ecosystem.

MilkyWay Secures Funding from Prominent Backers

MilkyWay, the liquid staking protocol, has successfully raised $5 million in a seed round, with contributions from notable investors like Polychain Capital, Binance Labs, Hack VC, Crypto.com Capital, and LongHash Ventures. This financial backing highlights investors' confidence in MilkyWay's vision to become the premier liquid staking protocol in the modular blockchain ecosystem, particularly within Celestia's domain. Yi He, Co-Founder of Binance and Head of Binance Labs, has expressed his endorsement for MilkyWay's expansion and progress, emphasizing the importance of enriching the Celestia ecosystem through innovative projects like MilkyWay.

MilkyWay: Pioneering the Liquid Staking Evolution

MilkyWay, established by a team of skilled engineers and developers from Tendermint, Osmosis, Cosmostation, Oak Security, and Composable Finance, has swiftly emerged as a key player in the liquid staking sector. With over 156,000+ milkTIA holders and more than 2.6 million TIA tokens staked since its inception, MilkyWay has positioned itself as a reliable platform for users looking to optimize their returns through liquid staking.

The seamless integration of MilkyWay with over ten DeFi protocols provides users with a comprehensive range of financial services, including trading, leveraging, lending, and borrowing, thereby enhancing the platform's utility and value proposition.