Monad is a high-performance standalone (or L1) blockchain that is fully compatible with Ethereum and all Ethereum Virtual Machine (EVM) chains. It aims to overcome Ethereum's scalability limitations by offering significantly higher throughput and faster transaction finality. In other words, Monad provides a scalable base layer for high performance apps (like Perpl) to build on.
Why is Perpl building on Monad?
Today, many blockchains face scalability issues that limit the performance of the apps developed on them. Monad aims to fix this issue and has already shipped many of the exciting features that are years away for other chains. Out of the box, Monad delivers parallel execution, a scalable base layer up to 10k TPS, and a strong ecosystem of builders and incentives.
Key Features of Monad:
- EVM Compatibility: Monad supports existing Ethereum smart contracts and developer tools with zero mods, making the transition to Monad easy for devs. By being EVM compatible, Monad benefits from the resources and liquidity of EVM chains.
- Scalability: Monad processes ~10,000 transactions per second (TPS) with half-second block times and one-second finality. For context, the fastest EVM-based L2 today has a real time TPS of just ~75 TPS - making Monad 133x more scalable than the current L2 scaling solutions.
- Parallel Execution: With parallel execution, Monad processes multiple transactions simultaneously, increasing efficiency and reducing latency for an overall better trading UX.
- 1 Billion Gas: Monad's architecture results in low transaction costs (in the cents), making dApps more accessible to users.
Monad and Perpl
For the reasons above, it was a no-brainer for the Perpl team to build on Monad. As a perp DEX requires fast output, low tx fees, deep liquidity, and composability with other projects, Monad is uniquely positioned to offer Perpl the jumping off point to set a new standard for decentralized perp platforms.
