According to Foresight News, parallel blockchain Monad has announced the launch of the Monad Madness competition, which will allocate $1 million in prizes. Each region can have up to 20 teams participating, with multiple venture capital firms involved in the judging process. The potential investment scale exceeds $60 million. The first phase will take place from October 2 to 4 in New York, and the second phase will be held from December 6 to 8 in Seoul, South Korea.