Magma

Magma is a community focused Liquid Staking Protocol on Monad, designed for equitable token distribution via their Points Programs. Magma is building the first Distributed Validator on Monad in collaboration with Obol, and is developing MEV to significantly reduce latency. Magma's staking pool allows users to stake their Monad tokens in exchange for liquid staked Monad tokens (gMON). Magma Staked Monad (gMON) represents users MON tokens that are "staked" or deposited into Magma. gMON can be used to earn staking rewards, or participate in various DeFi platforms, such as providing collateral to take out a loan.