What Is Monad? Guide to the Blockchain and How to Claim Its Airdrop
Monad is a Layer 1 blockchain that supports 10,000 transactions per second with 1-second blocks, single-slot finality, and low hardware requirements thanks to parallel execution and super-scalar pipelining techniques.
Monad is driven by a clear vision to revolutionize the blockchain ecosystem. By focusing on advanced technological innovations and a robust infrastructure, they aim to provide a highly efficient and scalable platform. The primary goal of Monad Labs is to enhance blockchain transactions' speed and efficiency, making it suitable for high-frequency trading and other demanding applications.
Their value proposition includes:
- Scalability: Their technology aims to support a large number of transactions per second.
- Security: Implementing rigorous security protocols to ensure the safety of the platform.
- Innovation: Continuous development of new technologies to keep up with the rapidly evolving cryptocurrency space.
With strong financial backing and a clear roadmap, Monad Labs is well-positioned to make significant strides in the cryptocurrency industry.
How to Obtain Monad Testnet Tokens
You can acquire Monad Testnet tokens from the official Monad Faucet, which refreshes every 12 hours. To access it, simply connect an EVM-compatible wallet to the testnet landing page, like Atomic Wallet.
Token distribution varies based on wallet activity and community involvement. Full Access members of the Monad Community or Developer Discord can claim 5 MON per request. Wallets holding at least 0.01 ETH and having a previous outgoing transaction on the Ethereum Mainnet qualify for 2 MON, while all other users receive 0.05 MON.
Steps to Claim Monad Testnet Tokens
You can claim Monad Testnet tokens for free through the official Monad Faucet. These tokens allow you to test new protocols and may enhance your chances of qualifying for the Monad airdrop. Ensure that Monad Testnet is added to your EVM supported wallet before proceeding.
Follow these steps to obtain Testnet MON:
- Visit the Faucet: Go to testnet.monad.xyz, accept the Terms of Service, and click "Continue."
- Connect Your Wallet: Choose Atomic Wallet, approve the connection, and scroll down to the Getting Started section.
- Claim Tokens: Enter your EVM wallet address, click "Get Testnet MON," and receive tokens based on your eligibility. You can use the faucet every 12 hours (up to twice a day).
Monad Airdrop Overview
The Monad airdrop is an exciting event this year, especially with the testnet now live. While details on dates, token distribution, and required activities are still pending, nearly 29 protocols are already operational. This guide will introduce these protocols and help you get started on the testnet for a chance at the airdrop.
Getting Started for the Monad Airdrop
Airdrops can be confusing, often requiring on-chain activity that many users may not be familiar with. Additionally, working in a testnet environment can lead to frustrations with acquiring tokens and interacting with dApps. This guide will cover the essentials to help you navigate the Monad airdrop process, including dealing with common congestion and network issues.
Setting Up a Compatible Wallet
Begin by setting up a wallet that supports the Monad Testnet, like Atomic Wallet. Note: It’s advisable to use a burner wallet or transfer your testnet $MON tokens to a burner wallet to safeguard your main wallet during dApp interactions.
Acquiring Testnet $MON Tokens
Once your wallet is set up, you'll need testnet $MON tokens to explore various dApps. Use a faucet to obtain these free tokens, which are solely for testing purposes.
Here are some Monad Testnet Faucets:
- Official Monad Faucet: Offers 0.05 $MON every 12 hours. Some users may face issues like “recaptcha score too low.” If this occurs, try a different browser (e.g., Firefox or Safari).
- Faucet Trade: Provides 0.02 $MON every 24 hours after following and posting on their X handle.
- aPriori Faucet: Dispenses 0.05 $MON every 12 hours, but new users may need ETH in their Web3 wallet and some transaction history to qualify.
Monad Blockchain Features
Scalability and Speed
Ethereum processes approximately 10 transactions per second (TPS), while the fastest EVM chain, Binance Chain, runs at approximately 200 TPS. In comparison, Solana’s true TPS fluctuates between 500 and 1,000, leveraging parallel execution to achieve higher transaction speeds.
EVM Compatibility
Monad attempts to build a more streamlined version of the EVM from the ground up to address the EVM’s shortcomings such as scalability and relatively steep transaction costs. Monad’s approach introduces parallel execution to increase transaction speeds of the EVM and the Monad blockchain.
Monad is a cutting-edge Layer-1 blockchain that leverages the EVM and aims to support all existing Ethereum smart contracts and applications without any need for modification. This is crucial for encouraging adoption among Ethereum developers.
Consensus Mechanism
MonadBFT, a custom-designed Byzantine Fault Tolerance consensus mechanism behind Monad, facilitates fast transaction verification even with faulty or malicious validator nodes. This reduces bottlenecks and ensures smooth transaction flow.
Monad's innovative features such as high scalability, EVM compatibility, and a robust consensus mechanism position it as a strong contender in the cryptocurrency ecosystem. This makes it a promising option for investors, traders, and enthusiasts looking for efficient and reliable blockchain technology.
Technical Innovations by Monad
Deferred Execution
Monad's deferred execution separates the consensus and execution processes, an innovation that significantly enhances both scalability and efficiency. By streamlining parallelized transaction processing and enabling faster block confirmations, this approach optimizes resource usage. Deferred execution allows transactions to be processed in batches, which results in improved system performance and reduced latency.
MonadDB and Parallel Execution
MonadDB is a proprietary database essential to Monad's parallel execution capabilities. Unlike traditional blockchains, which can experience bottlenecks due to sequential data processing, MonadDB optimizes both reads and writes, enabling the system to handle multiple transactions concurrently.
- Current Blockchain State Storage: Focuses on efficiently storing the current state of the blockchain.
- Optimized Reads and Writes: Enhances the speed of data access and updating during parallel execution.
- Temporary State Data: Allows transactions to be executed concurrently by providing needed state data temporarily.
Monad aims to create an EVM-compatible high-frequency trading chain, which leverages the concept of parallel execution. This is particularly beneficial for applications requiring high-speed transactions, such as GameFi and other decentralized apps. The ability to interact with the EVM at a high speed while maintaining compatibility means that all existing Ethereum dApps can readily deploy on Monad, offering an impressive throughput of 10,000 transactions per second.
These technical innovations make Monad a significant player in the blockchain technology landscape, providing solutions that address both current and future needs of high-frequency trading and decentralized applications.
