Monad Labs Raises $225M to Build High-Speed Ethereum-Compatible Blockchain

Monad Labs raised $225M led by Paradigm to build a faster, cheaper blockchain compatible with Ethereum to compete with Solana and others.

Monad will have full support for the Ethereum Virtual Machine (EVM), so developers can easily port over Ethereum applications.

Founder Keone Hon has experience in high frequency trading at Jump Trading and wants to enable similar speeds and volumes on Monad.

Monad aims to launch its mainnet by end of 2023, with a testnet coming in the next couple months.

The blockchain aims to enable high transaction capacity applications like exchanges, trading, and blockchain-based games.