Binance Labs, the venture capital and incubation arm of Binance, has invested in aPriori, a project focused on Miner Extractable Value (MEV)-powered liquid staking solutions on Monad, a high-performance Ethereum-compatible L1 smart contract platform.
aPriori’s mission is to “decentralize Monad’s network and enhance the user experience by reducing gas fees, optimizing network traffic, and driving sustainable incentives for validators.”
Monad achieves its performance “with its fast finality and deferred execution, creating a design space with both new possibilities and challenges.”
As a result, the aPriori team has “been building an entirely new architecture for MEV and Liquid Staking Tokens (LSTs) from scratch to maximize the performance of this next-generation parallel EVM.”
The fresh round of funding will enable aPriori “to expand its team, accelerate research and development efforts, bolster security protocols, and advance its efforts to optimize blockchain performance to handle mass adoption.”
Yi He, Co-Founder of Binance and Head of Binance Labs said:
“Binance Labs is proud to back aPriori’s vision to pioneer MEV-powered liquid staking solutions. We are always on the look-out for early-stage projects with potential, and this investment marks our commitment to supporting pioneering projects that drive the next wave of blockchain innovation, and we look forward to seeing aPriori redefine the landscape.”
Ray, CEO of aPriori said:
“We at aPriori are developing an MEV-powered liquid staking platform on Monad. We’re thrilled to have Binance Labs’ support as we innovate and introduce novel products uniquely designed for high-throughput, parallel EVM networks.”
aPriori was incubated through Season 6 of the Binance Labs Incubation Program.
To apply for the current Binance Labs Incubation Season 7, “submit your application here. This program is tailored to founders starting early-stage Web3 projects.”
As noted in the update, aPriori says it is “building the MEV infrastructure and liquid staking service on Monad.”
The team came from a “background of Jump Crypto, Coinbase, Bridgewater, Protocol Labs, D.E. Shaw, Pyth Network, and Flow Traders.”
As the venture capital arm and incubator of Binance, Binance Labs is “dedicated to empowering early-stage projects and driving the growth of innovative ecosystems.”
Since our founding in 2018, they have “provided strategic support and funding to projects, regardless of market cycles.”
Binance Labs’ portfolio covers “over 250 projects from over 25 countries across six continents.”
More than 65 of Binance Labs’ portfolio companies “are projects that have gone through our incubation programs.”
