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According to Fortune, Paradigm led the $225 million investment round of Monad Labs, which is building a Layer-1 blockchain that can compete with Ethereum (ETH) and Solana (SOL).
Monad Labs has completed a $225 million funding round led by Paradigm.
In the statement, it was stated that the funds collected will be used to create an L1 blockchain to challenge competitors such as Ethereum, Solana and Sui.
Monad Labs said it will fully support EVM, with the goal of deploying its mainnet by the end of this year and launching a testnet in the coming months, while also planning to launch a native token.
*This is not investment advice.