Original | Odaily Planet Daily (@OdailyChina)
Around midnight today, Monad officially announced on the X platform that today is the last day to become an early user of the Monad testnet. For those who have not yet participated in Monad interactions, seize the time to engage and take the last opportunity to become an early user of the testnet; perhaps the identity of early users will have benefits in future token airdrops.
Link: Official Twitter
Next, Odaily Planet Daily will take you through the basic overview of Monad, multiple channels to receive test tokens during interactions, and DeFi projects, NFT projects, Meme projects worth interacting with.
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 the 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.
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 one of the most notable projects 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 bytecodes of EVM.
Monad Financing Situation
Interaction Guide
Claim Test Tokens
Channel 1: Official Claim (Link: https://testnet.monad.xyz/). Enter your wallet address and complete the CAPTCHA, then click "Get Testnet MON" to claim. The claiming frequency is once every 12 hours.
Channel 2: Cross-chain from Sepolia Testnet to Monad (Link: https://testnet.orbiter.finance/en?srcchain=11155111&tgtchain=10143&src_token=ETH). This method requires having ETH assets on the Sepolia testnet. Select Sepolia and Monad Sepolia, then click "Bridge" to proceed.
Channel 3: Purchase with Mainnet Assets (Link: https://www.memebridge.xyz/gas), select the ARB chain (OP chain), choose Monad as the target chain, and click Transfer to proceed.
While there are various ways to claim test tokens in different communities, the above three methods are sufficient for daily interactions. After receiving the test tokens, we will summarize the projects worth interacting with.
DeFi Projects Worth Participating In
The criterion for participating in DeFi projects is "participate in whichever can be interacted with." Below are several DeFi projects worth interacting with, choose according to your preference.
1. aPriori (Link: https://www.apr.io/), click "Stake Now," enter a small amount of test tokens, and click "Stake." Additionally, you can click "Withdrawals" to withdraw some staked tokens, increasing interaction data.
2. Magma (Link: https://www.magmastaking.xyz/), click "Stake," enter the amount of test tokens, and then click "Stake" below.
3. Kintsu (Link: https://kintsu.xyz/staking), enter the amount of test tokens and click "Stake" below.
NFT Projects Worth Participating In
The criterion for participating in NFT projects is free minting. Below are two NFT projects with high community discussion and free minting.
1. Overnads: Open Edition (Link: https://magiceden.io/launchpad/monad-testnet/overnads). This project is a Freemint project, with a maximum of 10 mints per address.
2. Emmy on Monad (Link: https://magiceden.io/launchpad/monad-testnet/emmyonmonad), this project is a Freemint project, with a maximum of 1 mint per address.
Meme Projects Worth Participating In
Visit the Monad official website, scroll down, and complete the "Make Your First Trade" task to buy 3 Meme coins.
Related Content Reference
Step-by-step guide to interacting with the Monad testnet
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