OKX Ventures confirmed on Friday its seed round investment in Haedal, a protocol for liquid staking on the Sui blockchain.
š Big news! @OKX Ventures has joined the seed investment round for Haedal, Suiās leading native liquid staking protocol!
š Haedal is set to revolutionize Suiās DeFi ecosystem with innovative liquid staking infrastructure, unlocking new yield opportunities and maximizingā¦ pic.twitter.com/NaLVRAiBhh
ā OKX Ventures (@OKX_Ventures) January 3, 2025
According to a blog post by OKX Ventures, Haedal allows users to stake their SUI tokens with validators to earn consensus rewards while unlocking liquid staking tokens (LSTs) for use in decentralized finance (DeFi).
Haedalās infrastructure is designed to secure the Sui blockchain by facilitating staking activity while ensuring on-chain liquidity through LSTs.
The protocol also contributes to governance and decentralization, which are critical for the networkās sustainability.
In addition to its liquid staking services, Haedal is developing additional products that focus on enhancing yield opportunities within the Sui ecosystem.
Based on the announcement, the protocolās plans include modules for both retail and institutional users, featuring tools to simplify access to staking rewards.
OKX Ventures stated that the seed investment aligns with its broader strategy to support blockchain projects focusing on infrastructure and DeFi innovation.
Haedalās development is expected to contribute to Suiās growing DeFi ecosystem as it prepares for broader adoption.
In December 2024, OKX Ventures committed $5 million to TON Ventures to accelerate the development of applications on The Open Network (TON), with a focus on those integrated into Telegramās blockchain ecosystem.
š° @OKX_Ventures, the investment arm of crypto exchange OKX, has announced a $5 million investment in TON Ventures, the venture capital fund supporting The Open Network (TON).#TON #Funding https://t.co/TkHdSQ117e
ā Cryptonews.com (@cryptonews) December 10, 2024
The investment was allocated to support the creation of Telegram-native applications leveraging TONās blockchain infrastructure.
These apps are expected to enhance the ecosystem by connecting developers and establishing best practices for blockchain-based Telegram tools.
According to Ian Wittkopp, managing partner at TON Ventures, the fund focuses on projects in the CIS region and Asia.
Recent initiatives include backing platforms like DeLabs and Goat Gaming, as well as infrastructure for creator economies such as Memetics, which allows Telegram communities to establish mini economies.
In addition to supporting TON Ventures, OKX Ventures has previously collaborated with the Aptos Foundation to launch a $10 million accelerator fund.
That initiative targets Web3 adoption by fostering infrastructure, gaming, and DeFi projects across blockchain ecosystems.
Source: cryptonews.com
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