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Monad Labs, Which Is Building a Layer 1 Blockchain to Rival Ethereum and Solana, Raised $225m Led by Paradigm and Plans to Launch Its Mainnet by the End Of 2024

Fortune 2:10 pm on April 11, 2024

Monad Labs, a startup building a high-performance blockchain, raised $225 million in a funding round led by Jump Crypto and Paradigm. The new blockchain aims to provide fast transactions and low fees for decentralized applications (DApps), targeting use cases in high-frequency trading and gaming. Monad's team includes experienced crypto industry veterans like Justin Hon from Jump Trading and Electric Capital's Avichal Garg. The funding round is the largest crypto raise of 2023 so far, reflecting investor confidence in the potential of a more efficient blockchain infrastructure for decentralized applications.

Monad Labs raised $225 million in funding led by Jump Crypto and Paradigm
The company aims to build a high-performance blockchain for faster transactions and lower fees
Experienced crypto industry veterans, including Justin Hon from Jump Trading and Avichal Garg from Electric Capital, are part of the team
The funding round marks the largest crypto raise of 2023 so far
Investor confidence in a more efficient blockchain infrastructure for decentralized applications is driving interest

https://fortune.com/crypto/2024/04/09/monad-paradigm-greenoaks-jump-crypto-funding-225-million/

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Monad Labs, Which Is Building a Layer 1 Blockchain to Rival Ethereum and Solana, Raised $225m Led by Paradigm and Plans to Launch Its Mainnet by the End Of 2024

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