Monad, a blockchain project compatible with Ethereum’s virtual machine, has launched the Monad Foundation.
This foundation will be an independent organization dedicated to supporting the growth and decentralization of the Monad Protocol. The Monad Foundation will oversee key activities to expand the protocol’s ecosystem.
Its focus includes facilitating validator-led governance, supporting community-led improvement proposals, and providing resources such as developer documentation. Additionally, the Foundation will engage in ecosystem development, marketing, and advisory services to encourage the adoption of the Monad blockchain.
There have been many rumors, but the forming of the foundation is leading to more speculation that a token launch is coming.
— Monad ⨀ (@monad_xyz) December 16, 2024Introducing the Monad Foundation.
We are excited to announce the creation of the Monad Foundation, an important step towards further decentralization of the Monad Protocol and Ecosystem. The Foundation exists to contribute to the growth and adoption of the Monad Protocol, a…
Validators are entities or individuals that secure blockchain networks by validating and recording transactions. Governance on decentralized blockchains often relies on validators, who make decisions about network upgrades or rule changes.
The Monad Foundation’s involvement aims to make these processes transparent and community-driven.
The Foundation’s leadership includes Keone Hon and Eunice Giarta. Several team members from Monad Labs, particularly those working in business development, ecosystem growth, community engagement, marketing, and developer relations, will transition to the Monad Foundation.
Monad Labs will become Category Labs
As the Foundation takes on governance and ecosystem-related responsibilities, Monad Labs will continue to focus on software development and research for the Monad blockchain. Moving forward, Monad Labs will operate under the new name Category Labs, with James Hunsaker stepping in as CEO, according to the company announcement.
By splitting responsibilities between the Foundation and Category Labs, Monad aims to create a structure that balances independent community involvement with technical development. The changes reflect a common trend in blockchain projects, where independent foundations manage governance and outreach, while separate entities handle core technological advancements.
Monad’s EVM compatibility allows developers to create applications on its blockchain using tools familiar from Ethereum (ETH). This feature is expected to make the network accessible to a broad developer audience. With the Foundation in place, Monad hopes to accelerate adoption and innovation in its ecosystem.