Monad-based DeFi Projects Unveil Flurry of Funding Rounds – Crypto News – Crypto News
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Monad-based DeFi Projects Unveil Flurry of Funding Rounds Monad-based DeFi Projects Unveil Flurry of Funding Rounds

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Monad-based DeFi Projects Unveil Flurry of Funding Rounds – Crypto News

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9 months ago

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Kuru Exchange, Kintsu and aPriori have raised a combined $16 million as parallelized EVM Monad gears up for its testnet launch.

Protocols building on Monad are announcing their funding rounds as anticipation builds around Monad’s upcoming testnet.

aPrior, an MEV-powered liquid staking platform, revealed a $10 million funding round led by Pantera Capital; Kuru Exchange, a central limit order book (CLOB) decentralized exchange, announced a $2 million raise led by Electric Capital, and liquid staking protocol Kintsu unveiled a $4 million raise led by Castle Island Ventures.

Monad Ecosystem Funding Rounds

Monad is an Ethereum-compatible Layer 1 blockchain that allows for multiple transactions to be processed in parallel and touts a throughput of 10,000 transactions per second (TPS). Monad Labs recently raised $225 million in a funding round led by Paradigm and contributed to by Coinbase Ventures.

Parallel execution means that transactions are processed simultaneously, as opposed to sequential execution – used by most existing blockchains such as Bitcoin and Ethereum – in which one transaction must be executed in order for the next to begin.

Monad achieves this by enabling parallel execution for EVM transactions that do not have common dependencies. This means that the blocks are still ordered linearly, but the chain identifies specific types of transactions within that order that can be executed in a parallelized manner.

There is no confirmed date set for the launch of Monad’s testnet.

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