The establishment of the Monad Foundation marks a new phase in the development of the Monad ecosystem, shifting its strategic focus from technology research and development to community and ecosystem building.

Author: Bellalpz

Translation: Deep Tide TechFlow

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

Vision of Monad Labs

Monad Labs ( @monad_xyz ) was founded in early 2022 by Keone Hon, Eunice Giarta, and James Hunsaker, dedicated to redefining the possibilities of blockchain through technological innovation. Their goal is to build a blockchain system that is both highly decentralized and possesses excellent scalability. Over the past three years, the Monad team has focused on technological breakthroughs, launched a developer network (devnet), and initiated events like "Monad Madness" to encourage community-driven innovation within the ecosystem.

Monad Foundation: A New Starting Point for the Future

The establishment of the Monad Foundation signifies a new phase in the development of the Monad ecosystem, shifting its strategic focus from technology research and development to community and ecosystem building:

• Empowering the Community: The foundation plans to leverage the power of the Monad community, focusing on the core role of decentralization in the future development of the protocol.

• Efficient Innovation: Unlike traditional blockchain foundations, the Monad Foundation is centered on being streamlined, efficient, and flexible, emphasizing practical application results and avoiding cumbersome management processes.

Monad Labs Renamed to Category Labs

As the governance of the Monad protocol is transferred to the Monad Foundation, Monad Labs has not ceased operations but has entered a new stage of development. Monad Labs has officially been renamed to Category Labs and will continue to focus on blockchain research and technological innovation under the leadership of the new CEO, James Hunsaker, striving to maintain a leading position in the industry.

Keone Hon, co-founder of Monad Labs, expressed heartfelt gratitude to the team. He particularly noted that even in the harsh environment of a bear market, the team has demonstrated exceptional dedication and innovative capabilities. He is confident about the future and looks forward to Category Labs continuing to make breakthroughs in blockchain technology, while the Monad Foundation focuses 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, aiding the prosperous development of the ecosystem. For example, the "Monad Madness" competition initiated by the foundation not only offers economic rewards to developers but also provides a platform for innovators to showcase their talents.

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

Join the Monad community to stay updated and participate in this transformative journey of blockchain technology. For more updates, please follow @keoneHD and @0x_eunice.

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