In a significant development, Monad, a blockchain initiative compatible with Ethereum’s virtual machine, has launched an independent foundation. The Monad Foundation is set to be a driving force in enhancing the growth and decentralization of the Monad Protocol. It will take charge of crucial aspects including validator-guided governance, endorsing community-initiated improvement proposals, and furnishing resources like developer documentation.
Moreover, it will be actively involved in ecosystem expansion, marketing campaigns, and advisory work to promote the adoption of the Monad blockchain. There have been speculations, especially regarding a potential token launch.
The foundation’s leadership comprises Keone Hon and Eunice Giarta. A number of team members from Monad Labs, engaged in business development, ecosystem augmentation, community interaction, marketing, and developer relations, will shift to the foundation.
Meanwhile, Monad Labs will be renamed Category Labs, with James Hunsaker assuming the role of CEO, focusing on software R&D for the Monad blockchain.
The separation of duties between the foundation and Category Labs is designed to strike a balance between community participation and technological progress, leveraging Monad’s EVM compatibility to draw developers and accelerate innovation and adoption within its ecosystem.
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