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The Monad L1 blockchain aims to overtake the industry of EVM-compatible networks, offering an impressive 10,000 TPS carrying capacity while being seamlessly implemented with any Ethereum dApp and RPC non-custodial wallet. This is achieved by integrating significant changes in the consensus mechanism and transaction execution processes.
On February 14th, 2024, Monad Labs closed a $17M Seed funding round from Dragonfly Capital, Shima Capital, and over 70 additional angel investors and crypto funds, which were not disclosed in the round announcement.