Farcaster raised $150M in May, 2024. Still has all the money today.
Monad raised $225M in April, 2024. Probably still has most of it today.
When your treasury is that big, the ~4% from safe money market funds can pay for much of your expenses.
With Monad’s ~$400M treasury, at 4% they’re making $16M / year just in interest. Insane.
Between cash and tokens, Monad has enough capital to run for over a decade. In the uncertain world of crypto, Monad is a solid rock.
And no, Monad can’t return funds to investors. The network and token are live. Only way forward is to spend treasury to build the chain.

Dan Romero
@dwr
01-23
Given some rumors, wanted to post a few clarifications:
Farcaster is not shutting down. The protocol works and will continue to work. There were 250,000 MAU in December and over 100,000 funded wallets. The acquirer, Neynar, is a venture-backed startup and plans to shift
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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