Monad Labs is a Layer 1 blockchain developer. At its core, MONAD represents a fusion of two pivotal concepts: proof-of-stake (PoS) and decentralized computation. Monad’s approach stems from its complete reconstruction of Ethereum’s blockchain, preserving the capacity to execute smart contracts while attaining swifter transaction rates and reduced expenses.
Monad Labs has raised $225 million in a funding round led by investment firm Paradigm. Electric Capital, Coinbase Ventures, Castle Island Ventures, GSR Ventures, and Greenoaks also participated in the new round. “Monad is scaling all aspects of EVM performance by enabling developers to build next generation applications that will significantly expand the crypto ecosystem,” noted Paradigm Partner Charlie Noyes. “Keone, James, and Eunice are uniquely equipped both to build the technology and to create a vibrant community to support it. Paradigm is excited for a long-term partnership with the entire Monad team.”
Monad, New York, United States, was founded in 2022 by Eunice Giarta, James Hunsaker, and Keone Hon. The versatility of MONAD opens up numerous possibilities for real-world applications across various industries from gaming to decentralized exchanges (DEXs).
