monad

Monad officially released a new MIP (Monad Improvement Proposal), themed around Flexible and Upgradeable Account Authentication. The core of this proposal is to allow accounts to change keys without changing addresses, thereby enhancing the flexibility and security of account management.Through this mechanism, accounts can smoothly upgrade to quantum-resistant cryptographic schemes to address potential threats posed by future quantum computing. The proposal has been officially announced, and the community can further review relevant technical details and discussions.

The Monad Foundation has announced the completion of an early investor liquidity program, intending to repurchase a portion of early investors' locked MON tokens at a discount to reflect the discount arrangement of the four-year lock-up period, with a total repurchase cap of $60 million. The repurchased tokens remain subject to the original lock-up terms. The foundation stated that the program aims to provide an orderly exit option for early investors whose liquidity needs or investment goals have changed, and to support the long-term consistency of remaining holders.However, nearly all contacted holders refused to participate, and the program has now ended. The foundation stated that the Monad Foundation has not sold MON through over-the-counter or other means, and is currently not involved in any related processes; any contrary claims are untrue.

According to the DeFi Active TVL ranking, Monad ranks third globally with $367.1 million, only behind Ethereum ($2.047 billion) and Solana ($484.5 million).Monad has become one of the fastest-growing emerging Layer 1 public chains in the RWA track.

Monad stated on the X platform that the Phantom wallet will stop supporting the Monad network on August 12.Users need to migrate their on-chain assets to other EVM wallets compatible with Monad before this date to avoid affecting future use.

Ethena officially announced the launch of the Monad blockchain on platform X. USDe and sUSDe are now available throughout the Monad ecosystem, including integration with Monad's Aave instance, allowing Ethena users to borrow stablecoin liquidity at scale.In addition, the parallelized EVM USDe has now been launched.

According to The Block, the decentralized lending protocol Aave saw its deposit scale surpass $100 million about two days after launching the V3 market on the Monad network. Aave deployed the V3 version on July 3, introducing lending functions and the GHO stablecoin to the network for the first time, initially supporting 12 assets including USDT 0, USDC, GHO, WETH, and cbBTC. Within 24 hours of launch, the deposit scale had already exceeded $75 million.According to the Aave governance proposal, the Monad Foundation has committed to providing $15 million in incentives over the next 12 months and to purchase and hold 10 million GHO for at least 6 months; the Aave DAO will also provide an additional 500,000 GHO to support the development of the stablecoin ecosystem.In addition, Aave founder Stani Kulechov stated that the deposit scale of Aave V4 on the Ethereum mainnet has also surpassed $250 million, setting a historical high for this version. He expressed hope that the future deposit scale of V4 will further grow to $1 billion and continue to expand into crypto asset collateralized loans and securities-backed lending businesses.

Aave has deployed the V3 lending protocol on Monad, with the initial market supporting a total of 12 assets: USDT 0, USDC, Aave stablecoin GHO, USDe, mUSD, AUSD, WETH, cbBTC, wstETH, weETH, syrupUSDC, and sUSDe. In this deployment, Aave has enabled the Chainlink Smart Value Recovery mechanism (SVR) at launch for the first time, which can return part of the MEV value generated during the liquidation process back to the protocol.The Monad Foundation will invest $15 million as incentive funds within the first 12 months after the project launch and has agreed to purchase 10 million GHO and hold it for at least six months; Aave DAO has also committed to invest 500,000 GHO as incentives to support applications on Monad.

Echo Protocol announced that its eBTC deployment on Monad experienced unauthorized activity, resulting in abnormal minting and financial losses. Preliminary investigations indicate that the issue stemmed from the compromise of the administrator keys related to the Monad deployment, with approximately $816,000 in assets currently confirmed to be affected.Echo stated that the Monad network itself was not affected and continues to operate normally. The team has regained control of the administrator keys and has destroyed the remaining 955 eBTC held by the attacker. The project further clarified: the current incident appears to be limited to the Monad deployment; there is no evidence to suggest that the Aptos side has been affected; aBTC on Aptos and eBTC on Monad are independent, non-bridgeable assets; the current related risk exposure on Aptos is approximately $71,000.As an additional precaution, Echo has suspended the cross-chain functionality of the Monad deployment and has begun upgrading the related EVM bridging contracts and permission control mechanisms, while reminding users not to interact with any unofficial claims, refund, or recovery pages.

Keone Hon, co-founder of Monad, posted on the X platform that the Monad network is unaffected and operating normally, while security researchers are investigating the eBTC-related incident of the Echo Protocol. Researchers have determined that the vulnerability led to approximately $816,000 being stolen. Previously, it was reported that the Echo Protocol was attacked on the Monad chain, where hackers minted 1,000 eBTC and withdrew funds via Curvance.

According to Onchain Lens monitoring, Echo Protocol was attacked on the Monad chain. The attacker minted 1,000 eBTC ($76.7 million) and withdrew funds from Curvance through a previously tested attack path.Currently, the attacker has deposited 45 eBTC ($34.5 million) into Curvance as collateral, borrowed about 11.29 WBTC ($867,700), and cross-chained to Ethereum, sending 385 ETH (approximately $818,000) to TornadoCash after exchanging for ETH. The attacker still controls a large amount of minted eBTC.

According to official news, Monad's official X account (@monad), which was banned yesterday, has now been restored.ChainCatcher previously reported that Monad co-founder Keone Hon posted on the X platform stating that the Monad account was frozen without any warning, and he speculated that it was due to a system error. Monad did not engage in any abnormal operations or violate API usage. They have contacted the X platform support team through various channels and expect the account to be restored soon.

Keone Hon, co-founder of Monad, posted on platform X stating that the Monad account was frozen without any warning, and he speculates that it was due to a system error. Monad has not engaged in any abnormal operations or violations of API usage. They have currently contacted the support team of platform X through various channels and expect the account to be restored soon.

The official X account of the blockchain project Monad has been frozen. According to community feedback, this account has been frozen for several hours.

According to CoinGecko data, despite a 26.5% month-on-month decline in trading volume, Solana still holds a 30.6% quarterly market share, making it the leading chain for spot trading. However, Ethereum surpassed Solana in March with a 27% share (compared to Solana's 26%). BSC slightly leads Ethereum with a 24.5% quarterly market share (23.7%) in second place, but its trading volume has declined more significantly and is expected to drop to third place in the second quarter.In addition, Monad, which launched its mainnet in the early bear market of November 2025, has seen its trading volume gradually increase and is now the tenth most active chain in spot trading, surpassing Unichain and Optimism.

Keone Hon from Monad Lianchuang stated: "I feel that the lending protocol for the liquidity pool should set rate limits on the supply of assets deposited as collateral. For example, if the current supply is 100 million and the supply cap is 300 million, then in the next 10 minutes, the maximum allowed increase should be to 110 million, rather than allowing a one-time deposit of the full 200 million. In reality, no one needs to complete such a large deposit all at once.This is important because when certain exotic assets are attacked, the impact depends on the scale of the exit channels for that asset. Especially in many cases where attacks belong to infinite issuance vulnerabilities, the scale of the exit that can be made essentially determines the upper limit of the attack losses. Lending protocols are often the largest exit channels. If a smart cap is introduced, where the initial cap is slightly above the current supply and is gradually adjusted to the real cap over several hours, it would have a huge effect. With such a mechanism, rsETH depositors could have avoided about 200 million dollars in losses.This also raises a point: the asset issuers themselves should support such mechanisms. If you are issuing redeemable tokens with redemption delays, you are not worried about hackers redeeming directly from you, but you need to compress the scale of external exit paths as much as possible without affecting normal users. Therefore, a high supply cap should be seen as a risk rather than a symbol of strength. For example, the Hyperbridge DOT attack did not result in a 100 million dollar loss because there were very few exit paths; the Resolv attack loss was 24 million dollars instead of 200 million dollars because the scale of the exit path limited the loss cap. This is an obvious principle, but there are still immediately actionable measures: audit the supply caps of all assets and lower the caps when unnecessary."

Monad Greater China Region Ecosystem Harvey Chen has confirmed attendance at the "Crypto 2026: From Cryptocurrency to Smart Economy" themed forum to be held in Hong Kong on April 19, and will participate in a roundtable discussion. This event is co-hosted by ChainCatcher and RootData and is one of the important peripheral activities of the Hong Kong Web3 Carnival Conference.Monad is building a high-performance Layer 1 blockchain for the next generation of decentralized applications, with the mission of alleviating existing bottlenecks by constructing high-speed blockchains, enabling more complex applications and broader adoption. This forum will focus on the paradigm shift under the deep integration of AI technology and crypto networks, engaging in in-depth discussions on cutting-edge tracks such as AI Agent economy, smart payments, RWA, and crypto infrastructure. At the intersection of technological leaps and economic restructuring, this themed forum not only provides insights into the current state of the industry but also offers a forward-looking reflection on the future smart economic system.Event registration: https://luma.com/18v6vwpf

Monad co-founder Keone Hon released a protocol security self-inspection checklist on the X platform, focusing on core issues such as management permissions, fund security, and multi-signature mechanism design, which mainly includes ten points:Clearly identify which admin functions may lead to fund loss;Ensure that relevant operations are time-locked;Establish a real-time monitoring mechanism;Provide timely alerts when admin functions are called;Review all privileged accounts and try to use a multi-signature (k-of-n) structure;Clarify signature threshold parameters;Multi-signature signers should use independent cold devices solely for signing operations and follow best practices (such as independently verifying transaction hashes);Set rate limits on withdrawals and avoid control by the same multi-signature;Ensure employee devices have malware detection and management capabilities;Predefine extreme scenarios where multi-signature signers are compromised, reverse engineer potential attack paths from the attacker's perspective, and optimize system design accordingly to increase attack costs and complexity.

The electronic money institution Newrails, regulated by the Bank of Lithuania, announced the launch of the euro stablecoin EURW on Monad, compliant with MiCA standards.Newrails holds dual licenses as an electronic money institution (EMI) in Lithuania and a virtual asset service provider (VASP) in the Czech Republic. Each EURW token is backed 1:1 by euro reserves, allowing token holders to exchange them for fiat euros at any time without fees, aimed at providing production-grade stablecoin infrastructure for Web3 builders, payment developers, and RWA teams.

According to the official announcement, OKX will launch MON (Monad) spot trading.