1. Project Overview

Monad is a high-performance, Ethereum-compatible Layer 1 blockchain founded in 2022 by experienced developers from Jump Trading. The project aims to enhance blockchain performance with the capability to process up to 10,000 transactions per second (TPS). Monad focuses on scalability and efficiency, addressing Ethereum’s bottlenecks while retaining its advantages. It uniquely combines EVM compatibility with parallel execution.

2. Founding Team

– Keone Hon (CEO): An 8-year veteran at Jump Trading in high-frequency trading (2013-2021), later joining Jump Crypto to research blockchain systems and DeFi protocols within the Solana ecosystem. Twitter ▪️ Linkedin

– James Hunsaker (CTO): Holds a B.S. in Computer Science and Mathematics from the University of Iowa. He worked as a Senior Software Engineer at Jump Trading since 2014, and previously held positions at JP Morgan and Goldman Sachs. Twitter ▪️ Linkedin

– Eunice Giarta (COO): Graduated from MIT with a B.S. in Computer Science and Engineering. She has a diverse background in technology and operations, focusing on business development. Twitter ▪️ Linkedin

3. Motivation Behind Monad

Keone observed the challenges in developing applications on Solana due to its lack of EVM compatibility. This motivated Keone and James to create Monad—a high-performance, EVM-compatible Layer 1 blockchain to ease development on a scalable blockchain other than Ethereum.

4. Investors

Monad has raised $244+ million through multiple funding rounds:
– Seed Round (February 2023): $19 million lead by DragonFly Capital.
– Series A (April 2024): $225 million led by Paradigm, with participation from Electric Capital, Greenoaks Capital, and other investors.
– OKX Ventures invested in Monad Labs during a strategic round with an undisclosed amount of capital. Resource

5. Technology

– Superscalar Architecture: Processes multiple instructions simultaneously, enhancing transaction throughput.
– Parallel Execution: Improves performance by handling multiple transactions concurrently.
– MonadDb: Ensures efficient read/write operations and supports asynchronous I/O, necessary for high transaction volumes.

6. Project Roadmap

– DevNet: Initial development network to test core functionalities (Q1 2024).
– TestNet: Public testing network to identify and resolve issues before mainnet launch (Q3 2024).
– MainNet: Official network launch (Q4 2024).

7. Tokenomics

The project has not yet launched its token.

8. Conclusion

The emergence of Monad addresses the urgent need to improve blockchain scalability and performance. With the increasing complexity of financial transactions and the global market scale, Monad is designed to handle large transaction volumes efficiently. Keone Hon emphasizes the importance of high-frequency trading systems to meet massive transaction demands, aiming to replace centralized finance with decentralized solutions. Monad represents a significant advancement in blockchain technology, offering comprehensive solutions to current scalability and performance issues. With its experienced founding team, advanced technology, and strong community and investor support, Monad has substantial potential to become the ideal blockchain platform for decentralized applications in the future.