TechFlow news, Monad Labs, a tech startup founded by former team members of TradFi giant Jump Trading, has raised $19 million in funding led by Dragonfly Capital, with participation from Placeholder Capital, Lemniscap, Shima Capital, Finality Capital, Naval Ravikant, Cobie, and Hasu.
The funding will be used to develop a new blockchain aimed at addressing issues faced by current Layer 1 protocols. The Monad blockchain is set to launch on testnet in the coming months, with mainnet deployment planned for later this year. The blockchain will adopt a PoS consensus mechanism and will be compatible with the Ethereum Virtual Machine (EVM). Original link
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