• Tue. Jun 25th, 2024

OKX Ventures Invests in Monad Labs to Boost Web3 Innovation

Steve Kornacki

BySteve Kornacki

May 22, 2024
OKX Ventures Invests in Monad Labs to Boost Web3 Innovation

OKX Ventures’ Monad Labs Investment

OKX Ventures, the investment arm of the prominent digital assets exchange and Web3 solutions provider OKX, has made headlines with its recent investment in Monad Labs, a forward-thinking company dedicated to reshaping the decentralized digital landscape. The investment signals OKX Ventures’ commitment to fostering innovation in decentralized systems and supporting next-generation projects.

Monad Labs is on a mission to revolutionize the decentralized digital world by developing a smart contract platform that will reshape the landscape of decentralized computing. Led by CEO Keone Hon, the company is pioneering advancements in blockchain technology, particularly in enhancing the scalability and performance of Ethereum-based transactions.

The key highlight of Monad Labs’ innovation is developing a new Ethereum platform that speeds 1000 times faster than the current Ethereum network. This breakthrough would be achieved by implementing parallel computing and superscalar pipelines. Monad Labs also aims to address the scalability challenges inherent in existing blockchain networks.

Excitement for the Partnership with Monad Lab

The partnership between OKX Ventures and Monad Labs underscores the former’s commitment to supporting cutting-edge projects in the blockchain space. Dora Yue, founder of OKX Ventures, cited Monad Labs’ innovative measures and technical prowess as catalysts for advancing the Web3 agenda. 

Similarly, Keone Hon, CEO of Monad Labs, welcomed the partnership with OKX Ventures, emphasizing the shared vision of driving meaningful advancements in Web 3.0 and decentralized app performance. With OKX Ventures’ backing, Monad Labs aims to popularize its innovative approach to empower developers to build high-performance dApps and meet the growing demand in the blockchain sphere. By backing Monad Labs, OKX Ventures demonstrates its confidence in the expertise and vision of the company’s team.

OKX Wallet Now Integrated with Thruster

To expand its decentralized finance (DeFi) offerings, OKX has integrated its Web3 Wallet with Thruster, a prominent DeFi protocol operating on the Blast blockchain. Thruster, recognized for its innovative solutions within the DeFi space, boasts substantial liquidity for a range of Blast-native assets.

Also, there are plans for further token integrations as Blast protocols introduce additional tokens. The integration allows users of the OKX Wallet web extension, available on Chrome and Firefox, to seamlessly access Thruster. 

By creating or linking an existing OKX Wallet to Thruster via the web extension, OKX’s Web3 community gains direct access to Thruster’s suite of DeFi solutions. This move positions OKX at the forefront of DeFi accessibility for Blast blockchain users, enabling them to tap into Thruster’s liquidity pool and explore various DeFi opportunities within the ecosystem.

With the Blast blockchain gaining traction for its robust infrastructure and growing ecosystem of projects and applications, the integration with Thruster further solidifies OKX’s commitment to providing comprehensive DeFi solutions for its rapidly growing user base.

Steve Kornacki

Steve Kornacki

Steve Kornacki, a respected author at Big Trends Signals, uses his deep online trading acumen to create comprehensive guides and balanced reviews, empowering traders in their digital pursuits.

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