Monad is an EVM-compatible layer one chain focused on parallel transaction execution, launched after three years of development and venture funding.

Overview

The project raised $244M from Paradigm and Coinbase Ventures and launched its mainnet on 24.11.2025, led by founder Keone Hon.

Network metrics and token

• Token price: ~$0.029; public sale price $0.025; ATH ~$0.18.
• Market capitalization: ~$342M; FDV: ~$2.91B.
• TVL (DeFi): ~$305M (-0.92% over 24h).
• Bridged TVL: ~$635M; stable volume: ~$419M.
• DEX volume (24h): ~$33.4M; Perps volume: ~$15.1M.
• Chain fees (24h): ~$3.12K; app revenue (24h): ~$17.7K; app fees (24h): ~$66.6K.
• Total raised: ~$513M; token incentives: $0.

Technology

Monad implements a custom consensus called MonadBFT with sub-second finality and claimed throughput up to 10,000 TPS, aiming at high-performance settlement.

Block propagation uses RaptorCast, a protocol fragmenting blocks to speed validator synchronization, while parallel execution processes transactions concurrently.

The stack includes MonadDB, a bespoke state database optimized for low-latency access to blockchain state and fast reads for applications.

Ecosystem and early steps

Two days after mainnet launch, the network integrated with Solana via Wormhole, enabling $MON transfers to Solana DEXs almost immediately.

Subsequent integrations included a reported connection to Telegram Wallet and Polymarket, while in July 2025 the Monad Foundation acquired Portal to build a payments stack.

In November 2025 the project announced Monad AI Blueprint, a program to support AI applications with infrastructure and funding.

Assessment

The public sale on Coinbase raised $269M from over 85,000 participants at $0.025 per token; price at ~$0.029 implies about +16% return five months after launch.

Despite active early usage and Uniswap capturing a large share of on-chain DeFi, the FDV of ~$2.91B compared with TVL of ~$305M implies a valuation ratio near 9.5x.

Aave is reportedly considering deployment on Monad, which would materially change the networks DeFi profile if completed.

Overall, the architecture and team are described as technically capable, while the market still seeks a clear narrative that justifies the projects current valuation.