{"id":75566,"date":"2024-04-09T11:03:26","date_gmt":"2024-04-09T15:03:26","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=75566"},"modified":"2024-04-09T11:03:28","modified_gmt":"2024-04-09T15:03:28","slug":"paradigm-leads-225m-funding-round-for-monad-labs","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/paradigm-leads-225m-funding-round-for-monad-labs\/","title":{"rendered":"Paradigm Leads $225M Funding Round For Monad Labs"},"content":{"rendered":"\n

Venture capital (VC) firm Paradigm has led a $225 million fundraising round for a new Solana layer-1 blockchain network<\/a>, Monad Labs<\/p>\n\n\n\n

\"Paradigm
Paradigm Leads $225M Funding Round For Monad Labs<\/figcaption><\/figure>\n\n\n\n

To create a new layer-1 smart contract network that is more affordable and faster than Ethereum, Monad Labs closes the investment round.<\/p>\n\n\n\n

According to Keone Hon, the creator of Monad Labs, who spoke with Fortune in an interview, the fundraising round was revealed following two years of development:<\/p>\n\n\n\n

\n

\u201cWe\u2019re emerging from roughly two years of development [\u2026] At a time when a lot of the research community was focused on roll-up, data availability, and other directions of scaling, Monad basically went really deep on the pure execution side.\u201d<\/em><\/p>\n<\/blockquote>\n\n\n\n

According to a March 14 X post by Monad, the new L1 will be 100% interoperable with the Ethereum Virtual Machine <\/a>(EVM), which can process up to 10,000 transactions per second (TPS).<\/p>\n\n\n\n

Ethereum is the birthplace of decentralized finance (DeFi), yet it has many drawbacks, such as infamously high gas prices during network congestion. With its execution-focused L1, Monad Labs hopes to address its weaknesses. Hon stated to Fortune:<\/p>\n\n\n\n

\n

\u201cWe realized there was a huge need for a more performant EVM, and that in spite of this need, no one was really working on this problem.\u201d<\/em><\/p>\n<\/blockquote>\n\n\n\n

Rise in Crypto VC Funding <\/h2>\n\n\n\n

A time when VC interest in cryptocurrency companies was on the rise it coincided with the announcement of the fresh investment round.<\/p>\n\n\n\n

Layer-2 network for Bitcoin On April 9, Mezo declared the conclusion of a $21 million Series A fundraising round headed by Pantera Capital. With Mezo, investors can get yield according to how long they retain their tokens. As a “Bitcoin Economic Layer,” they refer to it.<\/p>\n\n\n\n

According to reports surfaced on April 3, Paradigm is in talks to raise $850 million for a new fund. If successful, this would be the greatest fundraising effort in the cryptocurrency space since May 2022, when a record-breaking $4.5 billion was raised by Silicon Valley-based venture capital company Andreessen Horowitz\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>.<\/p>\n\n\n\n

According to data research platform Crypto Koryo, the first quarter of 2024 saw a 38% increase in funds spent in the cryptocurrency venture capital space, ending a two-year decline.<\/p>\n","protected":false},"excerpt":{"rendered":"

Venture capital (VC) firm Paradigm has led a $225 million fundraising round for a new Solana layer-1 blockchain network, Monad Labs To create a new layer-1 smart contract network that is more affordable and faster than Ethereum, Monad Labs closes the investment round. According to Keone Hon, the creator of Monad Labs, who spoke with […]<\/p>\n","protected":false},"author":1,"featured_media":75572,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[10530,19077,18061,4474],"class_list":["post-75566","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-layer-1-blockchain","tag-monad-labs","tag-paradigm-2","tag-solana-blockchain"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/04\/image-50.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/75566","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=75566"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/75566\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/75572"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=75566"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=75566"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=75566"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}