Original | Odaily Planet Daily (@OdailyChina)
The top-tier project Monad, which raised $225 million led by Paradigm last April, is finally interactive. Last night, Monad announced on the X platform that the Monad Testnet is officially online and has sent test coins to over 8.8 million active Ethereum addresses.
Monad Testnet is officially online
Next, Odaily Planet Daily will guide you through the basic overview of Monad and how to participate in the Monad testnet interaction as soon as possible.
Project Overview
Monad, developed by the Pyth and Solana teams over more than two years, is a high-performance L1 public chain compatible with Ethereum. According to the official documentation, Monad defines itself as a high-performance L1 that uses a PoS mechanism and is EVM-compatible, aiming to create a new paradigm for public chains through pipelined execution of Ethereum transactions. Its key innovations include MonadDB (a database specifically designed for accessing Ethereum states) and Optimistic parallel execution (ensuring high TPS with minimal overhead). Monad separates the consensus layer from the execution layer, further enhancing scalability and enabling developers to build applications that require exceptional performance and low latency.
Monad's groundbreaking advancements make it a powerful platform for enterprise-level applications, providing developers with the tools needed to create high TPS DApps while maintaining compatibility with Ethereum 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 valuation of $3 billion, led by Paradigm, with participation from Electric Capital and Greenoaks. As the most notable project in the Layer 1 space, Monad, which focuses on the concept of "Parallel EVM," aims to introduce a "parallel processing" execution layer scaling solution that significantly improves network execution efficiency while being 100% compatible with all EVM bytecodes.
Nexus: A Proof-of-Mining Network with Parallelization
STEP 1. Add the testnet (link: https://testnet.monad.xyz/): After entering the link, click "Manually add network," then click "Add Testnet to MetaMask," and click "Continue."
STEP 2. Claim test coins and bind your Discord account: After clicking "Connect Wallet," fill in the address to receive test coins in the dropdown interface, click "Get Testnet MON," and click "Connect Discord" to authorize your Discord account. (Currently, the test coin claiming feature is still not fixed, but you can continue reading to understand what interactions you can do after receiving the test coins.)
STEP 3. Continue on the interface to complete your first transaction on the testnet: Enter the amount of tokens you want to purchase in the three corresponding input boxes, buying DAK, YAKI, and CHOG respectively.
STEP 4. Continue on the interface to complete the "Spotlight" task: After clicking "Play Now," click "Register and Play for free" to log in using your Google account.
STEP 5. After successfully logging in, keep clicking "Continue" until "Claim 100 $fMON" appears.
STEP 6. Click "Shop" and then click "Claim" to check in daily.
STEP 7. Click the website (link: https://testnet.lilchogstars.com/), and mint an NFT.
STEP 8. Click the website (link: https://app.nad.domains/), and register a domain name.
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