Monad Labs says that it is accelerating the Ethereum Virtual Machine or EVM so that decentralized apps can “eat the world.”
The EVM is the standard of web3; over 96% of all capital in DeFi is in EVM apps.
In spite of this, EVM-compatible blockchains “have extremely low throughput: Ethereum supports roughly 10 transactions per second, and no EVM rollup is over 50 tps.”
Monad Labs claims it is “solving this problem with Monad, the performant Layer-1 blockchain that introduces parallel execution and superscalar pipelining to the EVM.”
Deep optimization is needed “across all levels of the stack – from the database layer, to the virtual machine layer, to the consensus and networking layer – in order to streamline EVM transaction processing. Monad introduces these low-level optimizations, allowing consumer-grade hardware to deliver exceptional performance while maintaining a high degree of decentralization.”
In a blog post, Monad Labs confirmed their $225M fundraise, “led by Paradigm.”
This funding milestone gives them resources “to continue scaling their team and to bring Monad to production.”
Other institutional investors reportedly include Electric Capital, Castle Island Ventures, Greenoaks, eGirl Capital, Rebirth Ventures, Amber Group, Animoca Ventures, Archetype, Bankless Ventures, Big Brain Holdings, Bodhi Ventures, Breed, Caladan, CMS Holdings, Coinbase Ventures.
Other backers mentioned in the update include CoinFund, DBA, Figment Capital, Flow Traders, Galaxy, GSR Ventures, Hailstone Labs, Hermeneutic Investments, HTX Ventures, IOSG Ventures, Lightspeed Faction, Makers Fund, Manifold Trading, Merit Circle, Mirana Ventures, Nascent, Presto Labs, Robot Ventures, SevenX Ventures, Superscrypt, Wintermute Ventures, and others.
Angel investors reportedly “include Inversebrah, Ansem, Hsaka, punk6529, Saquon Barkley, Eric Wall, Rune Christensen, Bryan Pellegrino, Robinson Burkey, Luca Netz, Mert Mumtaz, Shoku, and others.”
Monad Labs concluded that they now “look forward to a future where decentralization meets performance.”
