Author: Keone Hon, Co-founder of Monad

Compiled by: Deep Tide TechFlow

Deep Tide Introduction: Keone Hon, co-founder of Monad, lays out the report card of the past eight months in the latest ecological update: The first cohort of 7 teams in the Nitro accelerator completed Demo Day in New York, with over 100 investors in attendance; Category Labs open-sourced the Passkey introduction library Mera, allowing users to create encrypted accounts using only Face ID; on-chain TVL reached 800 million USD, DEX total trading volume surpassed 15 billion USD, and over 130 applications have been launched on the App Hub, with Aave's Monad market deposits reaching 500 million USD. At the same time, Category Labs secured 6 speeches among 34 presentations at the SBC blockchain science conference, released testnet v0.15.2, and the foundation announced support for independent open-source developers through AI token subsidies. Putting these pieces together reveals that Monad is simultaneously advancing three lines: entrance for funds and users, the real on-chain economic scale, and research on consensus and execution layer that determines the long-term ceiling.

Nitro Demo Day: The First Cohort of 7 Teams Made a Collective Appearance in New York

Nitro successfully concluded Cohort 1 Demo Day in New York, with 100+ investors in attendance. The participating teams included:

• @crshmarket——Live prediction market
• @BlinkCashX——Stablecoin deposit layer for consumer applications
• @blend_money——Compliance account layer for platforms
• @joinCero——An application that "earns rewards and builds credit through consumption"
• @TradeJanus——Financial operating system for global trade
• @40acres_Finance——Open credit market
• @ForkastGG——Cursor (AI programming assistant trading tool) in the trading agency field

Big events are coming, please continue to follow these teams. Applications for Cohort 2 will open soon.

Mera: Completing the Crypto Account Registration with Face ID

Category Labs launched Mera——an open-source Passkey introduction library: https://mera.category.xyz/

Mera allows applications to guide users in creating encrypted accounts solely through Passkey (biometrics), without relying on smart accounts or any backend logic. The goal is simple: to have applications complete user onboarding through processes already familiar with everyone, such as Face ID / Touch ID.

Ecological Dynamics: TVL 800 Million USD, DEX Cumulative Trading Volume 15 Billion USD

The latest Monad Economy update shows: TVL (Total Value Locked) reached 800 million USD, supporting 30+ fiat deposit channels, institutional lending and RWA (real-world assets) markets have gone live, and the DEX (Decentralized Exchange) cumulative trading volume reached 15 billion USD.

https://blog.monad.xyz/blog/monad-economy-eight-months-in

Other Highlights

• Over 130 applications have been launched on the App Hub, with new additions @ethena and @saturn_credit this week.
• There are currently 5 Prop AMMs (Proprietary Automated Market Makers) fiercely competing at https://mpamm.wtf/. Metric had the highest trading volume in the past 7 days, followed by Hanji and LFJ POE.
• @pendle_fi's deposits on Monad have reached 150 million USD; @avantprotocol's global deposits reached 150 million USD, a significant portion of which is deployed on Monad.
• Deposits in Aave's Monad market have reached 500 million USD (data from @Token_Logic).
• The Agent Arena of @KuruExchange has concluded, with @0xCal1 as the champion.

Average Data from the Past 7 Days

• Daily transaction count: 3.82 million
• TPS (Transactions Per Second): 44.23
• Active wallets: 14,960
• Stablecoin market cap: 506 million USD
• Daily spot trading volume: 33 million USD
• Daily perpetual contract trading volume: 60 million USD

Builder Shipping: Developer Delivery Progress

DeltaV's weekly update continues to showcase strong developer momentum:

• Accountable launched the first AUSD vault on Morpho and enabled YieldApp on Binance Wallet;
• LeverUp reached a trading volume of 35.77 million USD in the past 7 days, with TVL at 2.39 million USD;
• Sentry announced the public beta launch date.

For the complete update, see: https://x.com/DeltaV_xyz/status/2082837299113398454

Category Labs at SBC: 6 Out of 34 Presentations

Category Labs was very active at the Science of Blockchain Conference (SBC): 6 out of 34 presentations came from Category (including 3 out of 4 in the Consensus track), and there was a sharing session at the MEV Workshop.

Category's research also became the topic of the Whitepaper Reading Club, discussing Cadence (Category's new MCP protocol). Additionally, Category's @liobaheimbach served as the chair of the DeFi subgroup.

All related papers are as follows:

• Forget-IT: Optimal Good-Case Latency For Information-Theoretic BFT (Speaker: @komasito55)
• Timing Games in Responsive Consensus Protocols (Speaker: @kalpturer, Ph.D. student, former Category intern)
• MonadBFT: Fast, Responsive, Fork-Resistant Streamlined Consensus (Speaker: @MohammadMJalal1)
• Weighted Batched Threshold Encryption with Applications to Mempool Resilience (Speaker: Amit Agarwal)
• Blockspace Under Pressure: An Analysis of Spam MEV on High-Throughput Blockchains (Speaker: @0xWenhaoWang)
• Multiple Sides of 36 Coins: Measuring Peer-to-Peer Infrastructure Across Cryptocurrencies (Speaker: @liobaheimbach)
• Cadence: Extreme Pipelining with Multiple Concurrent Proposers (Whitepaper Reading Club)
• EVM Workloads in the Wild: Evidence for Multi-Dimensional Gas Metering, State Growth, Delayed Execution, and Parallelism (Speaker: @liobaheimbach)

Category Labs' research on enhancing transaction execution fairness, performance, and latency is advancing rapidly.

v0.15.2 Deployed to Testnet

This week, Monad version v0.15.2 has gone live on the testnet, with the changelog available on the official website. This version includes further preparations for MIP-8 and Deterministic Raptorcast.

MOST: Subsidizing Independent Open-source Developers with AI Tokens

The Monad Foundation also announced the MOST (Monad Open Source Track) program, supporting independent developers who are continuously delivering open-source code through AI token subsidies:

https://most.devnads.com/

BuildAnything: The First Hackathon Received Over 600 Projects

@buildanythingso concluded its first hackathon last week, receiving over 600 project submissions:

https://x.com/buildanythingso/status/2080660114122449077