The blockchain landscape is evolving rapidly, and a new contender is emerging from the shadows of innovation. Monad Labs, a cutting-edge crypto startup founded by ex-engineers from the prestigious financial trading firm Jump Trading, has secured $19 million in seed funding to develop a high-performance Layer 1 blockchain designed to tackle the persistent challenges of speed, scalability, and developer experience.
With ambitions to become the next “Ethereum killer,” Monad is reimagining core blockchain architecture to deliver a network capable of processing up to 10,000 transactions per second (TPS)—a leap forward compared to Ethereum’s current throughput. The project plans to launch its testnet in the coming months, with mainnet deployment expected later this year.
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Building a Scalable Future: The Monad Vision
At the heart of Monad’s mission is a commitment to solving the bottlenecks that have long plagued existing Layer 1 protocols. High gas fees, network congestion, and slow transaction finality have discouraged developers and limited mainstream adoption of decentralized applications (DApps).
Monad aims to change that by introducing a fundamentally redesigned architecture that optimizes both the consensus and execution layers—two foundational components of any blockchain.
“The Monad blockchain will set the industry standards for the speed, transparency, security, and scalability that all Layer 1 protocols should have,” said Keone Hon, co-founder and CEO of Monad Labs.
By re-engineering these core systems, Monad seeks to deliver a seamless experience for developers and users alike, fostering a more inclusive and efficient ecosystem for decentralized innovation.
Ethereum Virtual Machine (EVM) Compatibility: Bridging the Gap
One of Monad’s most strategic decisions is its full compatibility with the Ethereum Virtual Machine (EVM). This means developers can deploy their existing smart contracts and DApps on Monad with minimal changes—significantly lowering the barrier to entry.
The EVM remains the most widely adopted execution environment in the blockchain space, powering millions of decentralized applications across numerous networks. By maintaining EVM compatibility, Monad ensures instant access to a vast pool of tools, libraries, and developer talent already familiar with Ethereum’s ecosystem.
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This interoperability also allows for smoother asset migration and cross-chain communication, making it easier for projects to scale without sacrificing security or decentralization.
Parallel Processing: The Engine Behind 10,000 TPS
What truly sets Monad apart is its innovative approach to transaction processing. Traditional blockchains process transactions sequentially, which inherently limits throughput. Monad breaks this mold by enabling parallel execution of non-overlapping transactions.
“We redesigned the EVM execution system from the ground up to allow non-overlapping transactions to be run in parallel,” explained Eunice Giarta, Co-Founder and COO of Monad Labs.
In addition, the team has rearchitected the integration between the consensus and execution layers, allowing them to operate simultaneously rather than in lockstep. This decoupling dramatically increases system throughput and reduces latency.
These architectural enhancements are not just theoretical—early benchmarks suggest Monad could achieve up to 10,000 TPS, putting it on par with centralized systems while preserving the decentralization and trustlessness expected of a public blockchain.
Backed by Top-Tier Investors
Monad’s technical vision has attracted strong support from leading figures in the crypto investment community. The $19 million seed round was led by Dragonfly Capital, one of the most influential venture capital firms in Web3, with participation from over 70 investors, including:
- Placeholder Capital
- Lemniscap
- Shima Capital
- Finality Capital
Notable angel investors such as Naval Ravikant, Cobie, and Hasu have also backed the project, underscoring confidence in the team’s expertise and execution capability.
“With a founding team that originated from Jump, Monad Labs understands the need for speed,” said Chris Burniske, partner at Placeholder Capital. “The team is in the midst of parallelizing the EVM, creating a blockchain network and EVM-environment that rivals the performance of traditional tech and finance.”
This blend of financial engineering rigor and deep blockchain knowledge positions Monad as a serious player in the next generation of Layer 1 solutions.
The Race for Ethereum Supremacy
While Ethereum continues to dominate the smart contract ecosystem—hosting over 80% of DeFi protocols and NFT marketplaces—it faces ongoing challenges related to scalability and cost. This has paved the way for alternative Layer 1 blockchains often dubbed “Ethereum killers.”
Projects like Solana (SOL), Cardano (ADA), Avalanche (AVAX), Algorand (ALGO), and Internet Computer (ICP) have all attempted to offer faster, cheaper alternatives. However, many have struggled to balance scalability with decentralization and security—the so-called “blockchain trilemma.”
Monad enters this competitive arena with a unique advantage: a team experienced in high-frequency trading systems where microsecond-level performance matters. Their background equips them with the technical depth needed to build a blockchain that doesn’t compromise on any of the three pillars.
Core Keywords Driving the Narrative
To align with search intent and enhance discoverability, key terms naturally woven throughout this article include:
- Monad Labs
- Layer 1 blockchain
- Ethereum killer
- Ethereum Virtual Machine (EVM)
- Parallel execution
- Blockchain scalability
- Smart contract platform
- Decentralized applications (DApps)
These keywords reflect both technical depth and market relevance, ensuring visibility among developers, investors, and crypto enthusiasts searching for next-generation blockchain solutions.
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Frequently Asked Questions (FAQ)
Q: What is Monad Labs?
A: Monad Labs is a blockchain startup founded by former engineers from Jump Trading. It is developing a high-speed, EVM-compatible Layer 1 blockchain designed to support up to 10,000 transactions per second through parallel processing.
Q: Is Monad a competitor to Ethereum?
A: Yes, Monad aims to improve upon Ethereum’s limitations in speed and scalability while maintaining full EVM compatibility, positioning itself as a potential “Ethereum killer.”
Q: How fast is the Monad blockchain?
A: Monad claims it can process up to 10,000 transactions per second by rearchitecting both consensus and execution layers for parallel operation.
Q: Is Monad compatible with existing Ethereum tools?
A: Yes, Monad is fully compatible with the Ethereum Virtual Machine (EVM), allowing developers to deploy existing smart contracts and DApps with little or no modification.
Q: Who funded Monad Labs?
A: The $19 million seed round was led by Dragonfly Capital, with participation from Placeholder Capital, Lemniscap, Shima Capital, Finality Capital, and prominent angel investors like Naval Ravikant and Hasu.
Q: When will Monad launch?
A: The testnet is expected to go live in the coming months, with mainnet deployment planned for later in 2025.
As institutional interest in blockchain technology grows, scalability and performance will remain critical differentiators. With its elite engineering pedigree, robust funding, and bold technical vision, Monad Labs is poised to become a major force in shaping the future of decentralized computing.