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Monad is an EVM-compatible L1 blockchain network with parallel transaction execution capable of handling over 10,000 TPS. This provides users and developers with obvious advantages, such as fast and cheap transactions and seamless integration with Ethereum dApps and wallets.
During its private funding round, the Monad network managed to raise over $225M from Paradigm, Electric Capital, Greenoaks Capital, and several angel investors. The funds will be used to continue scaling the startup’s team and to bring Monad to production