SINGAPORE, May 21, 2024 /PRNewswire/ — OKX Ventures, the investment arm of leading crypto exchange and Web3 technology company OKX, today announced its strategic investment in Monad Labs, which is developing a developer-forward smart contract platform that is poised to revolutionize the decentralized digital landscape.
This investment underscores OKX Ventures’ commitment to supporting innovative projects at the forefront of blockchain technology and decentralized ecosystems.
Monad Labs, a leader in innovation, offers a revolutionary platform that scales Ethereum by 1000x through parallel execution and superscalar pipelining of Ethereum transactions. By combining advanced technologies with a focus on scalability and efficiency, Monad Labs is pioneering a new era in decentralized computing, enabling developers and users to fully harness the potential of Web3.
OKX Ventures Founder Dora Yue said: “Monad Lab’s innovation and technical strength will provide a solid foundation for promoting Web3 innovation. We look forward to making a positive contribution to the future development of decentralized computing through our partnership with Monad Labs. OKX Ventures’ investment will provide Monad Labs with the necessary resources and support to accelerate the development of its platform, expand its influence in the blockchain community, and provide more efficient and scalable decentralized applications for developers and users worldwide.”
OKX Ventures’ investment will equip Monad Labs with the resources and support needed to accelerate the development and adoption of its platform. Monad Labs aims to enable developers to build high-performance decentralized applications (dApps) that can scale to meet the demands of mass adoption, ushering in a new era of innovation and accessibility in the blockchain space.
Monad Labs CEO Keone Hon said: “We are delighted to welcome OKX Ventures as a strategic partner in our effort to accelerate the capabilities and adoption of decentralized apps. OKX Ventures’ expertise and vision align perfectly with Monad’s mission to unlock the full potential of decentralized computing. Our team looks forward to collaborating to boost the growth and adoption of Monad tech.”
As a prominent investor in the blockchain sector, OKX Ventures remains dedicated to identifying and nurturing projects that demonstrate the potential to drive positive change within the industry. The investment in Monad Labs reflects OKX Ventures’ confidence in the team’s technology and vision, as well as its dedication to fostering sustainable growth in the blockchain ecosystem.
For further information, please contact:
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About OKX Ventures
OKX Ventures is the investment arm of global leading crypto exchange and Web3 technology company OKX, with an initial capital commitment of USD100 million. It focuses on exploring the best blockchain projects on a global scale, supporting cutting-edge blockchain technology innovation, promoting the healthy development of the global blockchain industry, and investing in long-term structural value.
Through its commitment to supporting entrepreneurs who contribute to the development of the blockchain industry, OKX Ventures helps build innovative companies and brings global resources and historical experience to blockchain projects.
Find out more about OKX Ventures here.
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SOURCE OKX Ventures
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