The round was led by Paradigm, and includes MakerDAO\u2019s Rune Christensen and Coinbase Ventures.<\/p>\n
Crypto VCs are still vying to back the leading Layer 1 chain , as Monad Labs closes<\/a> a whopping $225 million round.<\/p>\n Led by Paradigm, the round includes Coinbase Ventures, Castle Island Ventures, Electric Capital, and a number of angel investors such as MakerDAO\u2019s Rune Christensen<\/a>, professional NFL player Saquon Barkley, and Reflexivity Research\u2019s Will Clemente.<\/p>\n \u201cVery excited to have angel invested in Monad,\u201d said<\/a> Clemente today on X. \u201cAfter meeting the team several times it was clear that they were on to something special. Expect Monad to solidify itself as a leading L1, sitting at the cross section of why people love Ethereum<\/a> and Solana<\/a>.\u201d<\/p>\n Monad says it\u2019s a performant Layer 1 blockchain,which introduces parallel execution and superscalar pipelining to the Ethereum Virtual Machine (EVM), which is the computational engine that enabled smart contracts that was first developed by Ethereum but is now used by may other chains.<\/p>\n Monad\u2019s goal is to improve on the EVM, and says it can enable 10,000 transactions per second, 1-second blocktimes and single-slot finality.<\/p>\n According to DefiLlama, 95% of the smart contract language landscape is dominated<\/a> by Ethereum\u2019s Solidity, which explains the choice for Monad\u2019s focus as an EVM-compatible blockchain.<\/p>\nFocus on EVM-compatibility<\/strong><\/h2>\n