Magma: Liquid Staking Protocol on Monad Chain
The Magma whitepaper was recently released by the project’s core team (Hydrogen Labs), aiming to provide innovative liquid staking solutions for the Monad ecosystem in response to users’ need to maintain asset liquidity while participating in network staking.
The theme of Magma’s whitepaper centers on its role as a community-owned liquid staking protocol on Monad. Magma’s uniqueness lies in its introduction of gMON as a liquid staking token, allowing users to stake Monad tokens and earn MEV-boosted rewards, while enhancing decentralization and reducing risk through Distributed Validator Technology (DVT); Magma’s significance is in enabling Monad holders to earn staking rewards while participating in DeFi activities, thereby optimizing capital efficiency and strengthening network security.
Magma’s original intention is to address the trade-off faced by Monad token holders between staking rewards and asset liquidity. The core viewpoint presented in the Magma whitepaper is: by issuing the value-accruing liquid staking token gMON, combined with MEV-boosted rewards and Distributed Validator Technology, Magma can deliver an efficient, secure, and highly liquid staking experience within the Monad network.