The Rise of Monad: A New Era for EVM Compatibility

In the ever-evolving world of blockchain technology, a new player has emerged with the potential to revolutionize the Ethereum Virtual Machine (EVM) ecosystem. Monad, a project that aims to build the most performant EVM-compatible Layer 1 blockchain to date, is making waves in the crypto community. In this episode of Midcurve, we dive deep into the vision behind Monad with Kevin, better known as "The Intern" - a prominent figure in the crypto Twitter sphere and now a key player in Monad's growth strategy.

Monad's ambitious goal is to bring the high-performance capabilities often associated with chains like Solana to the EVM space. This approach could potentially open up new possibilities for developers and users alike, bridging the gap between the established Ethereum ecosystem and the need for scalable, efficient blockchain solutions.

From CMS to Monad: A Career-Defining Decision

Kevin's journey to Monad is a testament to the project's potential. Despite being content with his position at CMS Holdings, a well-respected crypto investment firm, Kevin made the bold decision to join Monad. He explains, "I had no intention of ever leaving CMS. I joined in 2020 and I honestly like could not believe my luck at that point."

The decision to leave such a coveted position wasn't taken lightly. Kevin's initial skepticism about Monad's claims gradually transformed into conviction as he learned more about the project's technical progress. He recalls, "I talked to him about the development on the tech side and it became like 50%. And I'm like, all right, 50% chance that this thing is like, if it truly does turn into what I think it's going to... I'm going to be coping harder than anyone else on the timeline watching this thing blow up."

This level of conviction speaks volumes about Monad's potential to disrupt the blockchain space. It's not often that established players in the crypto industry make such significant career shifts, especially for projects that are still in development.

Monad: Reimagining Blockchain Databases

At the heart of Monad's innovation is its approach to blockchain databases. Kevin provides an insightful analogy to explain the technical edge Monad possesses:

"Commodity database means that they're built to be performant on average, not blockchain specific. So think about it as like a Toyota Corolla, right? On average, it's really good and like pretty much any environment like city, highway, suburbs, like wherever you're going to take it, it's pretty good. And so all blockchains currently like use a commodity database."

In contrast, Monad is developing a database specifically optimized for blockchain operations. Kevin continues the analogy: "It's more like NASCAR. Where you're just going fast and turning left. So the big unlock on the Monad side was like, we're building a database that is optimized specifically for blockchains."

This specialized approach could lead to significant performance improvements, potentially allowing Monad to outpace existing blockchain solutions in terms of speed and efficiency.

The EVM Advantage and Solana's Potential

While discussing the current state of blockchain ecosystems, Kevin acknowledges the dominance of EVM-compatible chains in terms of Total Value Locked (TVL) and user base. However, he also highlights the unique advantages of Solana:

"Solana, in my opinion, has like the best chance of doing this, right? Now because it is the most scalable infrastructure. It can just support the highest number of transactions for the lowest cost. And there's a lot of really smart people that are building apps that like either can't be built on the EVM or work much, much more efficiently on the SVM."

This observation underscores the potential for Solana to experience rapid growth, especially if a viral application emerges on the platform. Kevin suggests that Solana's scalability makes it well-positioned to handle a sudden influx of users, potentially leading to explosive growth in adoption.

Community Building: The Monad Approach

One of the most intriguing aspects of Monad's development is its approach to community building. Despite not having launched yet, Monad has cultivated one of the most engaged and enthusiastic communities in the crypto space. Kevin, who spearheads the growth efforts, shares insights into their community-building strategy:

"There are a few key foundational differences that I think make Monad community different. Like it was a decision that was made that has now led to kind of where the Monad community is. Um, and I think at the, the core of all of it is just like putting the experience of the community members first always."

This philosophy stands in stark contrast to many projects that view their community purely as a marketing tool. Kevin emphasizes the importance of authentic engagement and the dangers of short-term thinking when it comes to community growth:

"A lot of the time products will look at their community as like numbers on a sheet, right? They're like, Oh, we want to get as many people in the discord as possible or as many likes on the suite as possible. Like they're looking at community as this tool instead of like a group of individuals."

The Power of Organic Community Growth

Monad's community-centric approach has led to some remarkable outcomes. Kevin shares an anecdote that illustrates the power of this strategy:

"We had a community meetup in Vietnam last week. We had no plans to be a Vietnam. The community just on their own were like, Hey, we're throwing this big event. And I think like 1500 people signed up and I think like a thousand one, like completely, we didn't do anything. They just set this up. And when we heard that, like we actually flew the team out to go there, which then like made it this immaculate thing."

This level of community initiative and engagement is rare in the crypto space and speaks to the strength of the relationships Monad has fostered with its supporters.

The Human Element in Crypto Marketing

Kevin emphasizes the importance of focusing on people rather than just products in crypto marketing. He draws parallels with successful brands outside the crypto space:

"Red Bull. If you go on their Instagram, they don't have a single picture. There's not a single Red Bull on their entire Instagram. It's just people doing cool things. And then the logo's there. So it's very similar where it's like, we're not advertising Monad, right? We're just like showing the really cool things that people are doing."

This approach resonates with the idea that people identify with other people, not just products. By highlighting the individuals and stories within their community, Monad is creating a more relatable and engaging brand presence.

The Future of Monad

As Monad prepares for its public testnet launch, excitement is building within the community. Kevin hints at upcoming partnerships and developments:

"We just did our phantom announcement, um, a few hours ago. So we'll have phantom live on test. We have a lot of kind of big partnerships teed up that like we haven't announced. Um, so yeah, just like talking to a lot of the top players trying to build the best possible ecosystem."

The launch of the public testnet is a significant milestone for Monad, allowing the broader crypto community to experience and test the platform's capabilities firsthand.

Monad's Impact on the Crypto Landscape

As Monad continues to develop and grow its community, it has the potential to significantly impact the broader crypto ecosystem. By bringing high-performance capabilities to the EVM space, Monad could unlock new possibilities for decentralized applications and services.

The project's focus on community building and organic growth sets it apart from many other blockchain projects. This approach could serve as a model for other projects looking to build engaged and loyal communities in the crypto space.

The Relationship Between Monad and Solana

While Monad and Solana might be seen as competitors in the high-performance blockchain space, Kevin's comments suggest a more nuanced relationship. He expresses admiration for Solana's capabilities and the innovation happening within its ecosystem:

"I'm pumped for what you guys are doing, right? Jito is like the coolest thing that I know of that's happening in crypto. Um, you guys have been steady crushing, uh, very excited to see what, what cooks up in the Solana eco of the next three to six months."

This recognition of Solana's strengths, even while building a potentially competitive platform, speaks to the collaborative nature of the crypto space and the shared goal of advancing blockchain technology as a whole.

The Role of Performance in Blockchain Adoption

Throughout the discussion, a recurring theme is the importance of performance in driving blockchain adoption. Kevin emphasizes that scalability is a prerequisite for viral applications in the crypto space:

"Scalability is going to be what allows like, if you, if you don't have scalability, even if the apps are really good, you just can't onboard that many users. Like you'll hit a cap to where our transactions cost too much or there's not enough throughput on the chain."

This insight underscores the potential for high-performance blockchains like Solana and Monad to play a crucial role in the next wave of crypto adoption. By providing the infrastructure necessary to support large-scale applications, these platforms could be key to bringing blockchain technology to the mainstream.

The Importance of Developer Experience

While much of the discussion focuses on performance and community building, the importance of developer experience shouldn't be overlooked. Kevin mentions the rich ecosystem of tools and resources available in the EVM space as one of its key advantages:

"There's really good developer tooling. Like there's a lot of transparency. So there's this big kind of pool of rich resources that the EVM gets to benefit from."

By building an EVM-compatible chain, Monad aims to tap into this existing ecosystem while providing enhanced performance. This approach could potentially offer developers the best of both worlds - familiar tools and environments coupled with high-performance infrastructure.

The Potential for Breakthrough Applications

One of the most exciting prospects discussed is the potential for breakthrough applications that could drive mass adoption of blockchain technology. Kevin suggests that we're still in the early stages of adoption:

"If that's the idea, say like a billion users is the finish line. And like a very, you know, generous estimate would be there's like five million monthly active users on chain. That's not even 1%."

This perspective highlights the enormous growth potential still present in the blockchain space. Both Solana and Monad, with their focus on high-performance infrastructure, are well-positioned to support the kind of applications that could drive this next wave of adoption.

The Evolution of Crypto Communities

The success of Monad's community-building efforts offers valuable insights into the evolution of crypto communities. Kevin's approach, which prioritizes authentic engagement and community-driven content, represents a shift away from more traditional marketing-driven approaches.

This evolution reflects a broader trend in the crypto space towards more engaged and empowered communities. Projects that can foster this kind of community engagement may find themselves with a significant advantage in terms of user adoption and loyalty.

The Role of Humor and Fun in Community Building

An often overlooked aspect of community building is the role of humor and fun. Kevin emphasizes the importance of creating an enjoyable environment for community members:

"And you guys are making it fun too. And that's like, I think that's half the battle right there is people don't want to hang out somewhere where it's not fun."

This approach has clearly resonated with the Monad community, contributing to its rapid growth and high levels of engagement. It's a reminder that while blockchain technology is serious business, the communities built around it don't always have to be.

Lessons from Outside the Crypto Space

Throughout the discussion, Kevin draws inspiration from successful community-building efforts outside the crypto space. He mentions learning from Mr. Beast's approach to content creation and community engagement:

"Mr. Beast's main thing is like, like, I don't, I'm not trying to make like a better YouTube video than this other guy. I'm trying to make the best possible videos ever."

This mindset of aiming for excellence rather than just incremental improvement could be a valuable lesson for projects in the crypto space looking to stand out and build engaged communities.

The Future of Blockchain Adoption

As the conversation wraps up, the discussion turns to the future of blockchain adoption. Both Kevin and the hosts express excitement about the potential for breakthrough applications and increased user adoption in the coming months and years.

The development of high-performance blockchains like Solana and Monad is seen as a crucial step towards enabling these breakthroughs. By providing the infrastructure necessary to support large-scale, user-friendly applications, these platforms could play a key role in bringing blockchain technology to the mainstream.

Conclusion: A New Chapter in Blockchain Development

The conversation with Kevin provides a fascinating glimpse into the development of Monad and the broader trends shaping the blockchain space. From innovative approaches to database design to community-driven growth strategies, Monad represents a new chapter in blockchain development.

As the project moves towards its public testnet launch and beyond, it will be exciting to see how Monad's approach to performance and community building plays out in the competitive blockchain landscape. Whether Monad achieves its ambitious goals or not, the insights and strategies discussed in this conversation offer valuable lessons for anyone involved in building and growing blockchain projects.

The future of blockchain technology is being shaped by projects like Monad and Solana, which are pushing the boundaries of what's possible in terms of performance and scalability. As these platforms continue to evolve and mature, they have the potential to unlock new possibilities for decentralized applications and services, potentially ushering in a new era of blockchain adoption and innovation.

Facts + Figures

• Kevin, known as "The Intern," left his position at CMS Holdings to join Monad, a project aiming to build the most performant EVM-compatible Layer 1 blockchain.
• Monad is developing a database specifically optimized for blockchain operations, potentially leading to significant performance improvements over existing solutions.
• Despite not having launched yet, Monad has cultivated one of the most engaged communities in the crypto space.
• A recent community-organized meetup in Vietnam attracted around 1,500 signups and 1,000 attendees, without any direct involvement from the Monad team.
• Monad recently announced a partnership with Phantom, a popular crypto wallet.
• Kevin estimates that there are currently about 5 million monthly active users on-chain, which is less than 1% of the potential user base if blockchain adoption reaches 1 billion users.
• Monad's community-building strategy focuses on putting the experience of community members first, avoiding bot-driven engagement tactics.
• The project draws inspiration from successful brands outside crypto, such as Red Bull, which focuses on showcasing people doing cool things rather than directly advertising their product.
• Monad's public testnet launch is imminent, marking a significant milestone for the project.
• Kevin identifies Jito, a project in the Solana ecosystem, as "the coolest thing that's happening in crypto" currently.

Questions Answered

What is Monad?

Monad is a project aiming to build the most performant EVM-compatible Layer 1 blockchain to date. It seeks to bring the high-performance capabilities often associated with chains like Solana to the EVM space, potentially opening up new possibilities for developers and users in the Ethereum ecosystem. Monad's key innovation lies in its approach to blockchain databases, developing a system specifically optimized for blockchain operations rather than using general-purpose databases.

How does Monad's database differ from traditional blockchain databases?

Monad's database is specifically optimized for blockchain operations, unlike traditional "commodity" databases used by most blockchains. Kevin uses an analogy to explain this difference: traditional databases are like Toyota Corollas, good for various environments, while Monad's database is like a NASCAR vehicle, designed for specific, high-performance tasks. This specialization could lead to significant improvements in speed and efficiency compared to existing blockchain solutions.

What is Monad's approach to community building?

Monad prioritizes authentic engagement and puts the experience of community members first. They avoid bot-driven engagement tactics and focus on fostering genuine interactions. The team actively participates in community-driven initiatives, such as flying out to attend a community-organized meetup in Vietnam. They also incorporate community-created content into their official marketing efforts, creating a positive feedback loop of engagement and creativity.

How does Monad compare to Solana?

While Monad aims to bring high-performance capabilities to the EVM space, Kevin acknowledges Solana's strengths in scalability and efficiency. He notes that Solana currently has the best chance of supporting a viral application due to its ability to handle a high number of transactions at low cost. Monad's goal is to bring similar performance capabilities to the EVM ecosystem, potentially bridging the gap between Ethereum's network effects and Solana's scalability.

What is the significance of Monad's upcoming testnet launch?

The launch of Monad's public testnet is a crucial milestone for the project. It will allow the broader crypto community to experience and test the platform's capabilities firsthand. This launch is anticipated to be different from typical testnets, potentially showcasing Monad's unique features and performance. The testnet launch also coincides with several partnerships and developments that have not yet been announced, adding to the excitement surrounding the project.