OKX Ventures Invests in Sui-Based Liquid Staking Protocol Haedal

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Hongji Feng

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Hongji Feng

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Hongji is a crypto and tech reporter. He graduated from Northwestern University's Medill School of Journalism with a Bachelor's and a Master's. He has previously interned at HTX (Huobi Global),...

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January 3, 2025

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OKX Ventures confirmed on Friday its seed round investment in Haedal, a protocol for liquid staking on the Sui blockchain.

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).

Supporting Staking and On-Chain Liquidity

Haedal’s 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 network’s 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 protocol’s 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.

Haedal’s development is expected to contribute to Sui’s growing DeFi ecosystem as it prepares for broader adoption.

OKX Ventures Invests $5 Million in TON Ventures

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 Telegram’s blockchain ecosystem.

The investment was allocated to support the creation of Telegram-native applications leveraging TON’s 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.