Monad’s new foundation empowers validators and the community to drive blockchain improvements through decentralized governance and ecosystem development.
By Temitope Olatunji
Edited by Marco T. Lanz
Updated
3 mins read
Monad Labs has announced the formation of the Monad Foundation, an independent body dedicated to promoting the growth and utilization of the Monad protocol. This initiative marks a pivotal moment in Monad’s evolution, setting the stage for enhanced community engagement and governance.
The newly established Monad Foundation will focus on expanding and improving the blockchain’s ecosystem. As an independent organization, it will empower the community and validators—the operators of the blockchain network—to suggest and implement improvements through decentralized governance. Additionally, the Foundation will provide essential resources to developers and spearhead initiatives to promote the blockchain, foster partnerships, and support its growth.
Introducing the Monad Foundation.
We are excited to announce the creation of the Monad Foundation, an important step towards further decentralization of the Monad Protocol and Ecosystem. The Foundation exists to contribute to the growth and adoption of the Monad Protocol, a…
— Monad ⨀ (@monad_xyz) December 16, 2024
Keone Hon and Eunice Giarta, key members of Monad’s leadership, will join the Foundation along with Monad Labs team members specializing in marketing, community engagement, and developer relations. Monad stated in the blog post:
“The Foundation’s principal activity will be to facilitate validator-led governance and community-led improvement proposals; provide developer documentation relating to the network; and engage in ecosystem development, marketing, and advisory-related services for the Monad protocol. Keone Hon and Eunice Giarta will be joining the Monad Foundation. ”
Meanwhile, Monad Labs will rebrand as Category Labs and shift its focus entirely to the technical advancement of the blockchain. Under the leadership of CEO James Hunsaker, Category Labs will prioritize the software development and research needed to enhance the network’s performance and efficiency.
This division of responsibilities ensures that both entities can concentrate on their core objectives. The Monad Foundation will lead efforts to engage the community and expand adoption, while Category Labs drives technical innovation. Together, they aim to position Monad as a leading player in the blockchain space during a crucial period for decentralized technology.
This development further shows Monad’s commitment to building a robust and sustainable ecosystem, with the Foundation and Category Labs poised to excel in their respective roles. Monad stated:
We are thrilled about the path forward and the opportunity for Category Labs and the Monad Foundation to each be leaders in their respective domains of performance engineering and ecosystem stewardship. Decentralized tech is still in the early innings of adoption, and the next few years will be crucial. Gmonad, and onward!
Monad Labs has been attracting a lot of attention, with three Monad-based projects announcing venture capital funding in July, following the $225 million Series A raise in April, led by Paradigm. The funding will be used to expand the Monad blockchain, with plans to launch the mainnet by the end of this year.
Unlike traditional blockchains that replicate Ethereum’s framework, Monad is developing its own Ethereum-compatible system designed to handle more transactions efficiently. By introducing a specialized architecture for processing transactions in stages, Monad aims to address scalability issues while supporting applications built for Ethereum.
Temitope is a writer with more than four years of experience writing across various niches. He has a special interest in the fintech and blockchain spaces and enjoy writing articles in those areas. He holds bachelor's and master's degrees in linguistics. When not writing, he trades forex and plays video games.
