EVM-compatible blockchain project Monad Labs has completed a $19 million seed round financing, led by Dragonfly Capital

ChainCatcher news, the EVM-compatible blockchain project Monad Labs, founded by former Head of Research at Jump Trading, Keone Hon, has completed a $19 million seed round financing, led by Dragonfly Capital, with participation from Placeholder Capital, Lemniscap, Shima Capital, Finality Capital, angel investors Naval Ravikant, Cobie, and Hasu.

The Monad blockchain is set to launch on the testnet in the coming months, with plans to deploy on the mainnet later this year. Monad will adopt a proof-of-stake consensus mechanism and will be compatible with the Ethereum Virtual Machine (EVM). In April 2022, Keone Hon announced his departure from Jump Trading to establish the EVM-compatible new project Monad. (source link)