- The Monad Foundation was established to encourage the creation and uptake of the Layer 1 protocol, which is compatible with Ethereum.
- The foundation’s formation might be a sign that plans are underway to establish a mainnet and token.
The establishment of the Monad Foundation, a separate entity dedicated to advancing and developing the Monad blockchain, was announced by Monad Labs on Monday. As Monad approaches a possible mainnet launch after its recent testnet rollout, the foundation will concentrate on governance, tools, and support.
The Monad Foundation is an independent organization committed to promoting the development and uptake of the Monad blockchain protocol. This exciting organizational change marks a new step in the evolution of the Monad blockchain.
The establishment of the Monad Foundation may be a sign that a mainnet and token launch is imminent, even though it is not mentioned in the release. Monad started deploying its testnet in November.
Facilitating validator-led governance and community-led change requests, providing network developer documentation, and providing ecosystem development, marketing, and advisory services for the Monad protocol will be the Foundation’s main activities.
The primary developer of the technology that underpins the Monad blockchain protocol is Monad Labs.
Three Monad-based initiatives announced in July that they have secured venture capital funding, suggesting that interest in the Monad blockchain has increased. This comes after Monad Labs disclosed in April that it had raised $225 million in a Series A fundraising round led by Paradigm, at a rumored $3 billion valuation.
Monad wants to increase throughput by streamlining Ethereum’s operation. Monad claims that it is creating a new EVM from the ground up utilizing a pipelined architecture rather than copying the Ethereum software.
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