Monad might be the next major airdrop opportunity, with strong investor optimism and innovative Parallel EVM technology. Although their Testnet isn’t public yet, you can position yourself early for the Monad airdrop. Here’s what you need to know.
What is Monad?
Monad, a parallel EVM (Ethereum Virtual Machine) Layer 1 blockchain, processes multiple transactions simultaneously rather than sequentially. This approach significantly increases the speed and efficiency of transaction processing on the blockchain.
Key Features
- Parallel Processing: Unlike traditional sequential processing, where transactions are processed one by one, Monad uses parallel processing. This method employs multiple cores to handle various instructions simultaneously, akin to multiple cash registers in a supermarket, each designated for specific tasks, thus making the overall process much faster.
- MonadDb: Monad features a custom database, MonadDb, which integrates asynchronous input-output access at the database layer. This integration reduces input-output overhead, leading to consistently faster execution. This provides a distinctive advantage over other parallel blockchains like Solana or Sei.
- Strong Backing: Monad has raised $244 million across three funding rounds, with major backing from Paradigm, one of the top VCs in the world. This strong financial support underscores the confidence industry leaders have in Monad’s potential.
What makes it the best airdrop?
Many compare Monad to Solana due to its innovative technology and potential for high-speed transactions. Industry leaders and VCs view Monad as the next big thing in blockchain technology. Technological advancements, strong backing, and buzz within the crypto community fuel anticipation for Monad’s airdrop.
Funding and Valuation
Monad has raised $244 million, with a $3 billion valuation, and is expected to launch its Mainnet by Q4 2024, potentially followed by an airdrop in early 2025. Investors and enthusiasts are positioning for the airdrop by engaging in community activities and staking related tokens.
Step-by-step guide to position for a potential airdrop
While Monad’s Testnet isn’t live for public users yet, you can take several off-chain and on-chain steps to prepare for the airdrop.
Off-Chain Activities
- Join their Discord channel.
- Verify your account and claim the ‘Mob’ role.
- Aim to get the ‘Nads’ and ‘NadOG’ roles, as holding these roles could potentially qualify you for the airdrop.
- Follow Monad on Twitter and participate in their discussions and events to stay updated and increase your chances of getting noticed for early access opportunities.
On-Chain Activities
- Stake Wormhole and Pyth Tokens:
- Stake Wormhole tokens to qualify for an airdrop with Monad, benefiting from their partnership.
- Stake Pyth tokens to potentially qualify for an airdrop, thanks to Monad’s integration with Pyth Network.
- Get Whitelisted for NFT Collections:
- Monadians: Participate in whitelist events and competitions to secure a spot in this highly anticipated NFT collection on Monad. Follow them on their Twitter for more updates.
- Pikenians: Acquire an NFT from this collection on Solana, which could be valuable when Monad’s Testnet and Mainnet launch. Follow them on their Twitter for more updates.
- Purple Frens (Monad Pad): Engage with Monad Pad’s campaigns to get whitelisted for this NFT collection. Follow Purple Frens and Monad Pad on Twitter for more updates.
Preparing for Testnet and Mainnet
- Phantom Wallet: Set up a Phantom wallet to be ready to interact with Monad’s Testnet when it goes live. This is expected to happen next quarter, with the Mainnet launch projected for Q4 this year.
Follow these steps to position yourself early for the Monad airdrop and potentially reap significant rewards once the project officially launches.