MilkyWay secures $5M in seed funding led by Binance Lab

• MilkyWay secures $5M funding led by Binance Labs and Polychain Capital.
• MilkyWay boasts 156,000+ milkTIA holders and integrates with 10+ DeFi protocols.
• Binance co-founder emphasizes assist for MilkyWay’s development within the Celestia ecosystem.

MilkyWay, a liquid staking protocol working inside Celestia’s ecosystem, has achieved a big milestone after efficiently elevating $5 million in its simply concluded seed funding spherical.

The seed funding spherical was backed by notable buyers like Binance Labs and Polychain Capital marking a pivotal second in MilkyWay’s journey in the direction of enhancing liquidity and utility for Celestia (TIA) token holders.

MilkyWay’s rise to prominence

MilkyWay, spearheaded by a staff of seasoned engineers from numerous famend tasks, has swiftly emerged as a frontrunner within the liquid staking enviornment.

MilkyWay’s main goal is to enhance liquidity, composability, and utility for TIA token holders, in the end driving capital effectivity. By seamless integration with over ten DeFi protocols, the platform presents customers a complete suite of monetary providers, together with buying and selling, leveraging, lending, and borrowing.

Boasting over 156,000 milkTIA holders and facilitating the staking of over 2.6 million TIA tokens, the platform has garnered belief and recognition inside the blockchain neighborhood.

Investor confidence and strategic backing

The $5 million seed spherical, led by Polychain Capital and with participation from Binance Labs and different outstanding buyers, underscores the sturdy confidence in MilkyWay’s imaginative and prescient.

Yi He, the Co-Founding father of Binance and Head of Binance Labs, expressed sturdy assist for MilkyWay’s development trajectory, emphasizing the significance of fostering innovation inside the Celestia ecosystem.

With its modern method and the strategic partnerships, MilkyWay is poised to guide the liquid staking revolution inside the modular blockchain ecosystem. The platform’s dedication to enhancing liquidity and utility for TIA token holders displays a broader development in the direction of unlocking the complete potential of staked belongings in decentralized finance.