Monad Launches Testnet in Partnership With Orderly Network for DeFi Expansion
Monad, an upcoming Ethereum Virtual Machine layer-1 blockchain, is set to launch its testnet and has partnered with Orderly Network, a decentralized exchange infrastructure. Key points include:
- Monad's testnet will launch on Wednesday, enabling traders to access a fast EVM-compatible platform.
- Airdrops are expected on the layer-1 network.
- Orderly Network encompasses over 20 market makers, including Wintermute, Selini, and Riverside.
- There is anticipation for increased DeFi activity due to supportive regulatory changes under President Donald Trump.
- Orderly provides a shared order book across multiple blockchains such as Arbitrum, Optimism, Polygon, Base, Mantle, and Near.
- Orderly aims to address liquidity fragmentation in decentralized finance, as noted by COO Arjun Arora.
- Monad Labs raised $225 million in April 2024, led by Paradigm.