Monad Foundation Announcement

Monad Labs announced on Monday the formation of the Monad Foundation, an independent organization focused on promoting and developing the Monad blockchain. The foundation will concentrate on governance, tools, and support as Monad moves closer to a potential mainnet launch after its recent testnet rollout.

> “We are sharing an exciting organizational update, signaling a next step in the evolution of the Monad blockchain: the Monad Foundation, an independent organization dedicated to encouraging the development and adoption of the Monad blockchain protocol,” the foundation said in a blog post on Monday.

Although the statement does not explicitly mention it, the creation of the Monad Foundation may indicate that a mainnet and token launch could be imminent. In November, Monad began rolling out its testnet, as previously reported by The Block.

The foundation’s main activities will include:
– Facilitating validator-led governance and community-led improvement proposals.
– Providing developer documentation related to the network.
– Engaging in ecosystem development, marketing, and advisory services for the Monad protocol.

Monad Labs is the primary developer of the technology underlying the Monad blockchain protocol.

The Monad blockchain has seen a surge in interest, with three Monad-based projects securing venture capital funding in July. Before that, Monad Labs raised $225 million in a Series A funding round led by Paradigm, reportedly at a $3 billion valuation.

Monad aims to optimize Ethereum's functionality to provide greater throughput. Rather than cloning the Ethereum codebase, Monad claims it is constructing a new EVM from scratch, utilizing a pipelined architecture.