What Is MONAD And When Is The Token Airdrop?

Monad is currently promoting one of the most highly anticipated airdrops of 2024, with 160,000 MONAD tokens awaiting distribution ahead of its mainnet launch by the end of this year.

Monad is a Layer-1 blockchain built with Ethereum Virtual Machine (EVM) compatibility. This design allows Monad to seamlessly support Ethereum smart contracts and applications without requiring modifications, making it an attractive option for Ethereum developers.

Monad’s developers aim to reengineer the EVM to address challenges like scalability issues, performance limitations, and high transaction costs. Ethereum processes around 10 transactions per second (TPS), while Binance Chain reaches about 200 TPS.

In comparison, Solana achieves significantly higher transaction speeds due to parallel execution — a method Monad Labs plans to integrate into its blockchain to enhance efficiency and scalability.

Here’s everything we know about the MONAD airdrop so far:

MONAD airdrop explained

Monad Labs raised $244million in funding, led by Paradigm, Coinbase Ventures, and other VC firms to support the project’s development and growth. Airdrops are a common strategy for Layer-1 blockchains, serving as both a marketing tool and a way to distribute native tokens. These tokens enable users to pay for transactions and provide early investors with an asset tied to the blockchain’s ecosystem.

While exact details of the airdrop are yet to be announced, it’s likely to take place at the end of December, just before its mainnet launch. Monad is currently on its testnet.

How to qualify

Although the Monad team has kept airdrop details under wraps, several users on X (formerly Twitter) have outlined the method to engage on the testnet and become eligible for the airdrop.

According to these users, users need to visiting Tally.xyz, connecting your wallet, and signing in. Stake tokens by clicking the ‘Start’ button, selecting any delegate, and staking through Optimism or Base networks.

Finally, engage with Elixir by heading to Elixir.xyz, connecting your EVM or SUI wallet, completing the registration, selecting tokens, entering the amount, and supplying them.

These actions help demonstrate your engagement with the Monad ecosystem, potentially increasing your eligibility for the airdrop. Always ensure you follow official guidelines and avoid unofficial links to protect your wallet and tokens.

Also, consider the following steps:

1. Engage with Monad’s community: Join Monad’s Discord channel and actively participate in discussions. Earning roles such as ‘Nads’ or ‘Monvangelist’ may enhance your eligibility for future rewards.
2. Follow Monad on social media: Stay updated by following Monad’s official X(Twitter account) and other social media platforms.
3. Participate in ecosystem projects: Engage with projects within the Monad ecosystem, such as staking tokens from partners like Wormhole and Pyth, as this involvement could potentially qualify you for the airdrop.

Please be aware that these steps do not guarantee inclusion in the airdrop, as final eligibility criteria will be determined by Monad Labs. It’s crucial to stay informed through official channels to avoid misinformation and potential scams.

1. 01.

   What is MONAD?

   

   Monad is a Layer-1 blockchain compatible with the Ethereum Virtual Machine (EVM), designed to support Ethereum smart contracts and applications seamlessly. It aims to improve scalability, performance, and transaction speeds by incorporating parallel execution, similar to Solana.

2. 02.

   Are crypto airdrops worth it?

   

   Crypto airdrops can be worthwhile for early adopters, offering free tokens that may increase in value as the project grows. However, participants should research projects and safeguard their wallets to avoid scams.