Monad Foundation Established: An Important Progress in Blockchain Decentralization

The establishment of the Monad Foundation marks a new stage in the development of the Monad ecosystem, with a strategic shift from technical research and development to community and ecological construction.

Author: Bellalpz

Compiled by DeepTechFlow

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Co-founder of Monad Labs, Keone Hon, announced the establishment of the Monad Foundation, which has attracted widespread attention in the blockchain community. This move marks an important step for the Monad blockchain protocol in promoting development and achieving decentralization. Here is a detailed interpretation of this announcement:

The vision of Monad Labs

Monad Labs (@monad_xyz) was founded by Keone Hon, Eunice Giarta, and James Hunsaker in early 2022 and is committed to redefining the possibilities of blockchain through technological innovation. Their goal is to build a highly decentralized and scalable blockchain system. Over the past three years, the Monad team has focused on technological breakthroughs, launching the developer network (devnet) and initiating activities such as 'Monad Madness' to encourage community-driven innovation within the ecosystem.

Monad Foundation: A New Starting Point Towards the Future

The establishment of the Monad Foundation marks a new stage in the development of the Monad ecosystem, with its strategic focus shifting from technical research and development to community and ecological construction:

• Empowering the Community: The Foundation plans to fully leverage the power of the Monad community, focusing on the core role of decentralization in future protocol development.
• Efficient Innovation: Unlike traditional blockchain foundations, Monad Foundation focuses on simplicity, efficiency, and flexibility as its core values, emphasizing practical application effects and avoiding cumbersome management processes.

Monad Labs renamed as Category Labs

As the management rights of the Monad protocol are transferred to the Monad Foundation, Monad Labs has not stopped operating, but has entered a new stage of development. Now, Monad Labs has officially changed its name to Category Labs and, under the leadership of the new CEO James Hunsaker, will continue to dedicate itself to blockchain research and technological innovation, striving to maintain a leading position in the industry.

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Keone Hon, co-founder of Monad Labs, expressed his heartfelt gratitude to the team. In particular, he mentioned that even in the tough environment of the bear market, the team has shown remarkable dedication and innovation. He is confident in the future and looks forward to Category Labs' continued breakthroughs in the field of blockchain technology, while the Monad Foundation will focus on promoting the global development and application of the Monad protocol.

Community and Ecosystem Support

Monad has always been community-centric, and the Monad Foundation will continue this philosophy by providing resource support to developers worldwide, helping to foster the prosperity and development of the ecosystem. For example, the foundation has initiated the 'Monad Madness' competition, which not only provides economic rewards for developers but also builds a platform for showcasing innovation.

The establishment of the Monad Foundation and the brand upgrade of Monad Labs is not just a corporate restructuring, but also a commitment to the future: to make decentralized technology more user-friendly, efficient, and scalable. With the continuous progress of the blockchain industry, Monad's dual efforts in technological innovation and community building have set a positive example for the future development of blockchain technology.