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Monad to Launch Mainnet and Airdrop on November 24; Ripple Secures $500 Million Funding

Monad Foundation will debut its Ethereum-compatible Layer-1 blockchain mainnet backed by over $240M in funding, alongside Ripple’s major capital raise in a dynamic crypto market landscape.

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Summary

Monad Foundation confirmed its Layer-1 blockchain mainnet will go live on November 24 at 11 p.m. JST. The project, founded in 2022, has raised over $240 million from investors including Paradigm. Monad’s network offers Ethereum Virtual Machine compatibility, enhancing developer accessibility. The launch coincides with a planned token airdrop. Separately, Ripple secured $500 million in funding, marking a significant capital influx in the digital asset sector.

Terms & Concepts
  • Mainnet: The fully operational and public version of a blockchain network, enabling transactions and smart contract deployment.
  • Airdrop: A distribution of free cryptocurrency tokens to holders or users, often used to promote adoption.
  • Ethereum Virtual Machine (EVM): A computation engine that executes smart contracts on the Ethereum blockchain, enabling compatibility with Ethereum-based applications.