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Monad, an Ethereum-compatible Layer 1, has officially launched its testnet following the network's devnet release in March.
What’s the Scoop?
- High Performance:
Monad boasts up to 10,000 TPS with 1-second block times, aiming to set new standards for speed and efficiency in the cryptoeconomy. - Massive Funding: Back in April,
Paradigm led a $225M funding round to support Monad’s development. Now, the chain is revving up for primetime.
Bankless Take
The L1 arena continues to heat up, with Monad entering the fray at a time of growing competition. Projects like 
Sui Network have recently gained traction, and upcoming networks like 
Berachain and 
MegaETH have big potential, setting the stage for more jockeying here. Monad’s pitch, high TPS, low fees, and significant VC backing positions it as a strong contender, but execution will be key. As the next bull market approaches, all eyes will be on Monad to see if it can deliver on its promises and carve out its share of the L1 market.
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