Monad
Ethereum-compatible L1 with Solana like performance
Basics
- Based in:
- Started in / Announced on: 2022
- Testnet release:
- Mainnet release: "mainnet launch later this year" (14-2-2023)
History
- From influencer/researcher Thor (8-2-2024):
"Monad has been in development for roughly two years and is founded by Keone Hon, James Hunsaker and Eunice Giarta. Keone and James are the two technical co-founders and worked together for eight years at Jump Trading. Sitting at the same high frequency trading desk and competing against 20 other teams internally at Jump, Keone and James were able to consistently rank as one of the top performing desks over the years, facilitating more than $10 trillion dollars in notional trading volume per year. With this level of volume, and by conducting thousands of transactions per second, Keone and James experienced firsthand the difference a microsecond makes in execution.
After moving into crypto, Keone was working on Solana DeFi and James was building Pyth. They started building Monad in 2022 after realizing that it’s possible to implement a series of fundamental optimizations to the EVM, which have been standard in high performance computer science over the last 20 years, but have not yet been implemented to the EVM."
Audits & Exploits
- Bug bounty program can be found [insert here].
Bugs/Exploits
Governance
Admin Keys
DAO
Notable Governance Votes
Treasury
Token
Launch
Token Allocation
Inflation
Utility
Burns
Other Details
Coin Distribution
Technology
- Whitepaper or docs can be found [insert here].
- Code can be viewed [insert here].
- Consensus mechanism: MonadBFT
- Algorithm:
- Virtual Machine: EVM
- Development language used: The Monad client is built with a focus on performance and is written from scratch in C++ and Rust.
Transaction Details
How it works
- From influencer/researcher Thor (8-2-2024):
"Monad utilizes parallel execution which allows several transactions to be processed at the same time. It’s important to note that Monad blocks still are a linearly ordered set of transactions just like on Ethereum.
Monad uses optimistic execution which means that the chain will start executing transactions before earlier transactions in the block have completed. To avoid errors and incorrect execution, the state of transactions are merged sequentially in the blocks to ensure correctness."
Fees
Upgrades
Staking
Validator Stats
Liquidity Mining
Scaling
Interoperability
Monad announced a day one partnership with Layerzero.
Other Details
Oracle Method
Their Other Projects
Roadmap
- Can be found [Insert link here].
Revenue
Usage
Projects that use or built on it
Competition
Pros and Cons
Pros
Cons
Team, Funding and Partners
Team
- Full team can be found [here].
- Monad Labs, both founders come from Jump Trading (15-2-2024).
- Keone Hon; co-founder & CEO
- Eunice Giarta and James Hunsaker
Funding
- From Techcrunch (14-2-2023);
"Raised $19 million in seed funding led by Dragonfly Capital. The round included 70 participants, including Placeholder Capital, Lemniscap, Shima Capital and Finality Capital, as well as angel investors like AngelList co-founder Naval Ravikant. The capital will be used to double the team to about 24 in the next several months, Giarta said."
Partners
(:
Knowledge empowers all and will help us get closer to the decentralized world we all want to live in!
Making these free wiki pages is fun but takes a lot of effort and time.
If you have enjoyed reading, tips are appreciated :) This will help us to keep expanding this archive of information.
