Wu said that Monad has announced the establishment of the Monad Foundation, which will focus on promoting validator-led governance, community improvement proposals, developer documentation maintenance, and ecosystem development. The original Monad Labs team will be renamed as Category Labs, with James Hunsaker serving as CEO, primarily responsible for the research and development of underlying blockchain technology. Keone Hon and Eunice Giarta will join the newly established foundation, and the original business development, ecosystem, community, marketing, developer relations, and operations teams will also transfer to the foundation.