Original | Odaily (@OdailyChina)
Author | Asher (@Asher_0210)
The Monad project, which received a $225 million investment led by Paradigm last April, can finally be interacted with.Last night, Monad posted on the X platform to announce that the Monad Testnet has officially gone live, and has sent test tokens to over 8.8 million active Ethereum addresses.
Monad Testnet has officially gone live
Next, Odaily will take you to understand the basic overview of Monad and the ways to participate in the Monad testnet interaction in the first time.
Project Introduction
Monad, developed by the Pyth and Solana teams for over two years, is an EVM-compatible high-performance L1 blockchain. According to the official documentation, Monad defines itself as a high-performance L1 that is EVM-compatible and uses a PoS mechanism, aiming to create new possibilities for blockchain networks through the pipelined execution of Ethereum transactions. Its key innovations include MonadDB (a database specifically designed for Ethereum state access) and Optimistic parallel execution (ensuring high TPS with minimal overhead). Monad separates the consensus layer and the execution layer, further improving scalability and allowing developers to build applications that require exceptional performance and low latency.
Monad's groundbreaking progress has made it a powerful platform for enterprise-level applications, providing developers with the tools needed to create high-TPS DApps while maintaining Ethereum compatibility and embracing the future of blockchain innovation.
On the evening of April 9, 2024, Monad Labs announced the completion of a $225 million financing round at a $3 billion valuation, led by Paradigm, with participation from Electric Capital and Greenoaks. As the most closely watched project in the Layer 1 race, Monad, which promotes the "Parallel EVM" concept, hopes to introduce a "parallel processing" execution layer scaling solution, while maintaining 100% compatibility with all EVM bytecodes, to significantly improve network execution efficiency.
Monad Financing
Nexus: A Parallelized Proof-of-Stake Mining Network
STEP 1. Add Testnet (Link: https://testnet.monad.xyz/): After entering the link, click "Manually add network", click "Add Testnet to MetaMask", and then click "Continue".
STEP 2. Claim test tokens and connect Discord account: After clicking "Connect Wallet", fill in the address to claim test tokens in the dropdown menu, click "Get Testnet MON", and then click "Connect Discord" to authorize the Discord account. (The test token claim is currently not working, but you can continue reading to understand what interactions can be done after receiving the test tokens.)
STEP 3. Continue down the page and complete the first transaction on the testnet: Enter the amount of tokens you want to buy in the three corresponding input boxes, and buy DAK, YAKI, and CHOG.
STEP 4. Continue down the page and complete the "Spotlight" task: Click "Play Now" and then click "Register and Play for free" to log in with a Google account.
STEP 5. After successfully logging in, keep clicking "Continue" until you see "Claim 100 $fMON".
STEP 6. Click "Shop" and then click "Claim" to complete the daily check-in.
STEP 7. Visit the website (Link: https://testnet.lilchogstars.com/), and Mint an NFT.
STEP 8. Visit the website (Link: https://app.nad.domains/), and register a domain name.
