Monad Labs announced the establishment of Monad Foundation to accelerate the growth and support the Monad ecosystem.
Goals and Objectives of Monad Foundation
The Monad Foundation aims to strengthen the Monad blockchain ecosystem by fostering collaboration between validators, developers, and the community. It will engage in decentralized governance, enabling network participants to propose and implement enhancements.
Validator Governance and Community Engagement
The Monad Foundation emphasizes validator-led governance, where validators play a critical role in accurately recording and validating transactions. Through the Foundation’s initiatives, community-driven proposals will be encouraged, making governance more transparent and accessible.
Future of Monad and Category Labs
Monad Labs shifts its focus to technology development under the new name Category Labs, led by James Hunsaker. Additionally, Monad's strategy involves developing its own EVM to enhance performance and reduce transaction costs. The Foundation's formation might spark interest in a potential token launch as part of its decentralized governance model.
The establishment of Monad Foundation strengthens the ecosystem and drives its development, while Monad Labs’ focus on technology will support the project’s growth.
