Monad Establishes Foundation to Enhance Blockchain Growth and Community Governance
Monad Labs has announced the formation of the Monad Foundation, an independent entity aimed at promoting the growth and utilization of the Monad protocol. This initiative enhances community engagement and governance.
Monad Foundation Objectives
The Monad Foundation will focus on expanding the blockchain ecosystem. It will empower the community and validators to propose and implement improvements through decentralized governance. The Foundation will also provide resources to developers, 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
Leadership and Structure
Keone Hon and Eunice Giarta from Monad's leadership will join the Foundation along with team members specializing in marketing, community engagement, and developer relations. Monad stated:
“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.”
Monad Labs Rebranding
Monad Labs will rebrand as Category Labs, focusing solely on technical advancement under CEO James Hunsaker. This separation allows both entities to concentrate on their core objectives: the Monad Foundation on community engagement and adoption, and Category Labs on technical innovation.
This restructuring demonstrates Monad’s commitment to building a sustainable ecosystem, with both organizations positioned to excel in their roles. Monad expressed enthusiasm about this direction:
“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.”
Funding and Development
Monad Labs has gained attention with three Monad-based projects announcing venture capital funding in July, following a $225 million Series A raise in April led by Paradigm. These funds will expand the Monad blockchain, with plans to launch the mainnet by year-end.
Monad is developing a unique Ethereum-compatible system that handles transactions efficiently, addressing scalability issues while supporting applications built for Ethereum.