LBank Labs announced an investment in the Monad staking protocol Kintsu.
Powered by ChatGPTTechFlow reports that Kintsu is a liquidity staking protocol based on Monad. Kintsu plans to launch its sMONAD staking token following the mainnet launch of Monad, aiming to boost the development of Monad's DeFi ecosystem.
This funding round is led by Castle Island Ventures, with other participants including Brevan Howard Digital, CMT Digital, Spartan Group, Breed VC, CMS Holdings, Animoca Ventures, and several well-known angel investors such as Alex Matthews and Ross Trachtman from Brevan Howard Digital, Marin Tvrdic from Lido, and Robinson Burkey from Wormhole Foundation.
LBank Labs manages assets worth 100 million USD, dedicated to supporting and aiding the development of Web3 startups by providing resources to help them stand out in the competitive market. Its investment portfolio includes innovative projects like Entangle, Puffer Finance, Navi Protocol, Exabits, Hivello, as well as significant investments in venture capital funds such as Collab Currency, SevenX Ventures, IOSG Ventures, Blockchain Builders Fund.