Community research · Posted article

[Research] Project Research Dossier: Monad (Pre-TGE Analysis)

By 엄준식

Open original Discord thread

  1. Executive Summary & Project Goal • Project Name: Monad • Primary Objectives: High-performance EVM-compatible Layer 1 blockchain achieving 10,000 TPS with 1-second block time and single-slot finality. • Value Proposition: Introduces Parallel Execution and MonadDB to eliminate performance bottlenecks in traditional sequential EVMs while maintaining full bytecode compatibility.

  2. Primary Sources & Verification • Documentation: https://docs.monad.xyz/ • Smart Contracts & On-chain: N/A (Pre-TGE / Devnet/Testnet phase) • GitHub Repository: https://github.com/category-labs (Active development & core components) • Security Audits: Internal/External audits in progress prior to mainnet deployment.

  3. Tokenomics & Emission Dynamics • Valuation:

  • FDV (Fully Diluted Valuation): TBD upon official TGE announcement.
  • Initial Circulating Supply: Estimated 10-15% at TGE. • Allocation & Vesting Schedule:
  • Ecosystem & Community: ~40% (Grants, Staking, Airdrop)
  • Core Contributors: ~25% (4-year vesting with 12-month cliff)
  • Investors/Backers: ~25% (4-year vesting with 12-month cliff)
  • Treasury: ~10% • Dilution & Unlock Risks:
  • High cliff unlock risk at Month 12 when investor/team tokens start linear unlocking.
  • Inflation risk is mitigated by dynamic fee burning (EIP-1559 equivalent mechanism).

  1. Team & Sybil Verification • Founders & Core Team: Keone Hon (Ex-Jump Trading), James Hunsaker (Ex-Jump Trading). Fully doxxed with verifiable quantitative background. • Advisors & Partners: Backed by Paradigm, Dragonfly Capital, and prominent Web3 VC funds.

  2. Key Risk Analysis & Disclosure • Technical / Execution Risks: Complex consensus protocol (MonadBFT) and custom state DB requires rigorous stress testing under high network load. • Governance & Incentive Risks: Initial validator decentralization may be limited during early mainnet phase. • Disclosures: No position held. No financial incentives or compensation received from the project team.