Monad Labs raised $225 million, led by Paradigm, pushing forward the discussion on parallelized EVM chains.
Monad is a new layer-1 smart contract platform that recently raised $225 million in funding from venture capital firm Paradigm.
Although Monad has not launched yet, it is expected to be live on its public testnet in late 2024, with mainnet deployment planned for early 2025.
Monad is a parallel Ethereum Virtual Machine (EVM) project, and like similar projects such as Aurora (built on the Near Protocol) or Sei, it attempts to parallelize the execution of EVM instructions so the network can process multiple transactions concurrently. This makes it possible to handle a larger volume of transactions, increases throughput and reduces costs.
