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On Friday, OKX Ventures announced its participation in the seed funding round for Haedal, a protocol focused on liquid staking within the Sui blockchain.
Exciting news! @OKX Ventures has joined the seed funding round for Haedal, the primary native liquid staking protocol on Sui!
Haedal is set to transform Sui’s DeFi landscape with innovative liquid staking infrastructure, unlocking new yield opportunities and maximizing… pic.twitter.com/NaLVRAiBhh
— OKX Ventures (@OKX_Ventures) January 3, 2025
Haedal is set to transform Sui’s According to a blog post by OKX Ventures, Haedal allows users to stake their SUI tokens with validators to receive consensus rewards while unlocking liquid staking tokens (LSTs) for use in decentralized finance (DeFi).
Enhancing Staking and On-Chain Liquidity
The infrastructure of Haedal is crafted to secure the Sui blockchain by promoting staking activities while ensuring on-chain liquidity through LSTs.
This protocol also plays a role in governance and decentralization, which are essential for the network’s sustainability.
In addition to its liquid staking services, Haedal is developing more products aimed at improving yield opportunities within the Sui ecosystem.
As per the announcement, the protocol’s roadmap includes modules catering to both retail and institutional users, featuring tools designed to streamline access to staking rewards.
OKX Ventures noted that this seed funding aligns with its broader strategy to support blockchain initiatives that focus on infrastructure and DeFi innovation.
The development of Haedal is anticipated to enhance Sui’s expanding DeFi ecosystem as it gears up for wider adoption.
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OKX Ventures Invests $5 Million in TON Ventures
In December 2024, OKX Ventures pledged $5 million to TON Ventures to accelerate the development of applications on The Open Network (TON), particularly those integrated into Telegram’s blockchain ecosystem.
@OKX_Ventures, the investment arm of cryptocurrency exchange OKX, has announced a $5 million investment in TON Ventures, the venture capital fund backing The Open Network (TON).#TON #Funding https://t.co/TkHdSQ117e
— Cryptonews.com (@cryptonews) December 10, 2024
The investment is intended to support the development of Telegram-native applications utilizing TON’s blockchain infrastructure.
These applications are expected to enhance the ecosystem by bridging developers and establishing best practices for blockchain-based tools on Telegram.
According to Ian Wittkopp, managing partner at TON Ventures, the fund is focused on projects within the CIS region and Asia.
Recent initiatives include supporting platforms like DeLabs and Goat Gaming, as well as infrastructure for creator economies such as Memetics, which enables Telegram communities to create mini economies.
In addition to its support for TON Ventures, OKX Ventures has previously partnered with the Aptos Foundation to launch a $10 million accelerator fund.
This initiative aims to promote Web3 adoption by fostering infrastructure, gaming, and DeFi projects across various blockchain ecosystems.
The post OKX Ventures Invests in Sui-Based Liquid Staking Protocol Haedal appeared first on Cryptonews.
