- Monad integrates Chainlink for oracle and cross-chain services.
- Developers gain tools for advanced DeFi and dApps.
- Monad secures $244M to scale high-performance blockchain.
Monad, an EVM-compatible Layer 1 blockchain, has entered into a strategic partnership with decentralized oracle network Chainlink as it prepares for its mainnet debut. The collaboration will integrate Chainlink’s suite of oracle services into the Monad ecosystem, ensuring developers can access reliable Web3 infrastructure from the outset.
Builders Gain Full Access to Chainlink Services
After the main net launches, builders on Monad will be able to use all Chainlink’s service offerings, such as Data Feeds, Data Streams, and the Cross Chain Interoperability Protocol (CCIP). The intent behind these integrations is to provide developers with the proper tools to build state-of-the-art decentralized finance (DeFi) applications like lending protocols and decentralized exchanges (DEXs).
With Chainlink’s Data Feeds and Streams, developers will gain access to tamper-proof, high-quality market data ranging from asset prices to foreign exchange rates. Chainlink’s CCIP will support secure, programmable cross-chain token transfers, making it possible for dApps in different chains to interact securely and reliably.
Yet another major development for the Monad ecosystem just led to the announcement that USD Coin (and one of its most common stablecoins, as much as a little bit) will be natively available on the Monad chain from day one of the main net launch.
Monad Raises $244M, Targets High Performance Blockchain
Recently raised $244 million with the help of top-tier investors from Dragonfly and Paradigm, Monad is starting to align itself as a performance blockchain. Mechanism: It provides the ability to process more than 10,000 transactions per second with a parallel execution model, fast block time, low fees, and fast finality.
On February 19th, Monad announced its test net and ecosystem directory earlier this year, which has over 50 applications, infrastructure providers, and integrations. It provides a complete development environment for builders and users to test and experiment. Phantom, OKX, Uniswap Wallet, and Backpack are already wallets that work with the Phantom, while others can connect to testnet.monad.xyz manually. There is also a built-in faucet where developers can access testnet MON tokens to connect with Monad-based applications.
The main net is expected to be launched in the first quarter of 2025, but no date has been disclosed.
