The truth The project led by Paradigm is raising $200 million
According to sources from Fortune, the Layer-1 Monad blockchain project is trying to make money by inviting investors to invest in the project. They want to raise about $200 million and value the company at $3 billion.
Paradigm, a famous investment fund in the cryptocurrency world, is expected to contribute $150 million to this project. To achieve this goal, Paradigm has been in contact with many other parties since 2023 to seek more investment partners.
It is known that Monad is a new blockchain project that uses Proof-of-Stake and is compatible with EVM. They want to increase transaction speed up to 10,000 transactions per second by doing it in parallel. The project will have a “mon” token to pay transaction fees.
This project is developed by people from Jump Trading and Jump Crypto investment funds. They collected $19 million from their seed funding round in February 2023.
If they collect $200 million as planned, Monad will become one of the blockchain projects with the most capital in 2024, second only to the Wormhole project.
