Monad Launches Testnet with Phased Rollout

Author

Alpha Team
November 18, 2024

🚀 Monad's Testnet Launch Milestone

Testnet Launch and Features: Monad, an Ethereum-compatible Layer 1 blockchain, has launched its Testnet as part of a phased release. Monad was designed to offer 10,000 TPS and 1-second block times. Crypto personality Cobie tested it, calling it “fast” in a post on X.

Funding and Ecosystem Growth: Monad Labs raised $225M in April, led by Paradigm, with participation from Electric Capital, Coinbase Ventures, and others. Earlier funding rounds since May 2022 totaled $39M, supporting Monad's EVM bytecode-compatible blockchain.

Technology and Challenges: Monad’s custom EVM design optimizes throughput via pipelining, achieving instant finality. Its hardware needs are twice Ethereum’s. Developers can port Ethereum apps easily, while tokens will cover "carriage costs." Read More.

️ On today's Top Picks:

  1. 📈 MicroStrategy buys an additional ~$4.6b of Bitcoin $BTC.
  2. 🪂 Magic Eden unveils $ME tokenomics; TGE coming soon.
  3. 💰 Trump Media $DJT in advanced talks to acquire Bakkt.
  4. 🤝 Thala exploited for $25.5m; negotiates $300k bounty for full recovery.

Read time: ⏰ 5 minutes


Crypto News


• US President-elect Donald Trump to meet with Coinbase CEO Brian Armstrong.

• ⭐️ MicroStrategy buys an additional ~$4.6b of Bitcoin $BTC; now holds ~$30b worth.

• MicroStrategy to raise $1.75b through convertible notes to buy more Bitcoin $BTC.

• BlackRock Spot Bitcoin ETF $IBIT options trading to launch tomorrow.

• Binance to launch $BFUSD, a reward-bearing margin asset for futures trading.

• Quantoz launches MiCA-Compliant $EURQ & $USDQ stablecoins.

Alpha


• ⭐️ Monad launches its Testnet as part of a phased release.

• Zerion teases Zerion DNA "Coming to Zero" tomorrow on X.

• Mezo to launch Matsnet Testnet Alpha tomorrow; early application form available.

• Morph launches Season 1 Points claim; Season 2 The Great Token Migration begins.

• ICYMI Fuel cut-off for migrating Fuel Points Phase 1 assets from Ethereum to Fuel Ignition is November 22nd.

• ICYMI Movement Labs Co-Founder Rushi Manche posts "movement mainnet imminent" on X.

Airdrops


• Sunrise Airdrop Strategy by Earndrop.

• ⭐️ Magic Eden unveils $ME tokenomics; eligibility & allocation checker coming soon.

• Suilend to unveil its tokenomics tomorrow.

• Morpho $MORPHO transferability to be enabled on November 21st.

• ICYMI Weekly Airdrop Updates by Earndrop.

• ICYMI Arkham Airdrop Strategy by Earndrop.

• Solana Airdrops To Farm by Aram Z.

Finance News


• ⭐️ Trump Media & Technology Group $DJT in advanced talks to acquire Bakkt.

• Goldman Sachs $GS in talks to convert its digital assets platform into a new company.

• MARA Holdings $MARA to raise $700m through convertible notes to buy more Bitcoin.

• Metaplanet issues ~$11m in 1-year bonds to buy more Bitcoin.

• US Pentagon unable to account for $824b budget; fails seventh consecutive financial audit.

• Nvidia $NVDA slides amid reports of issues with its new Blackwell AI chips.

• Samsung to buy back ~$7b of shares over 12 months to enhance shareholder value.

Security and Exploits


• ⭐️ Thala exploited for $25.5m; negotiates $300k bounty for full recovery of assets.

• Polter Finance exploited for ~$8.7m due to price manipulation attack.

• New Google Phishing Ads targeting Revoke[.]cash users detected.

• Google developing Shielded Email feature; allows users to create email aliases keeping their real addresses private.

• Fake Bitwarden Ads push malicious Chrome extension that steals sensitive user data.

Token Unlocks


• Pixels $PIXEL / ~$11m / NOV 19th
• EigenLayer $EIGEN / ~$3m / NOV 19th
• Skale $SKL / ~$3m / NOV 20th
• Ethena $ENA / ~$7m / NOV 20th
• Cardano $ADA / ~$14m / NOV 21st
• Galxe $GAL / ~$1m / NOV 21st
Sourced from Tokenomist


Funding


• Quantoz raises an undisclosed amount in funding from Fabric Ventures, Kraken, & Tether.

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. . .

That’s it for today’s edition! See you soon.

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