Monad

Introducing the Monad dedicated device subsidy program Monad Foundation will be subsidizing the cost of dedicated signing laptops, for multisig, treasury, and other critical operations, to all protocol teams with at least $2.5M of TVL on Monad. Your signing machine should NEVER be the same as the one you use for everyday browsing, coding, or taking calls. Details below:

Monad v0.14.3 has been released for mainnet. This version is the first time that nodes are required to use Authenticated UDP for RaptorCast. Authenticated UDP is an improvement that significantly reduces overhead of verifying consensus messages; it was rolled out a few months ago in optional mode to give the network time to switch over. You can read more about Authenticated UDP here: x.com/keoneHD/status… This release also makes changes to allow full nodes to participate in reputation scoring, and does some preparatory work for Deterministic RaptorCast. Full changelog linked in the next post.

Talking privacy, MEV attacks, BTX and the Monad tech with the expert: Babak Gilkalaye x.com/i/broadcasts/1…

Performance without compromising decentralization

NYC, Monad Blitz is coming on June 9! Blitz is Monad’s high-energy, one-day hackathon for builders who want to learn fast, build fast, and plug directly into the Monad ecosystem. What to expect: → Morning workshops + mentoring → Organic collisions with founders, builders, and investors → Demos, community, and $5,000 in prizes Apply now, limited slots available. Link to apply in the second tweet.

Still no fees for MetaMask users on Monad btw

@pipeline_xyz @mert wait a minute

Caught @mert for a quick interview in Miami

Learn more here: rain.xyz/resources/rain…

Monad is now supported by @raincards Rain issues cards that work anywhere Visa is accepted, powering payments in 150+ of countries Users can spend stablecoins directly from Monad with cards built by Rain partners

The @FalconXGlobal Credit Vault on @paretocredit is now available on Monad AA_FalconXUSDC can be bridged to Monad and used as collateral on the @morpho @steakhousefi market to borrow USDC This brings institutional private credit deeper into onchain capital markets

Active traders on Monad might want to check their wallets for a little surprise

ETHDenver vlog with @keoneHD

.@monad TVL YTD is up 39.5% We looked at what is driving the growth: the matching model, demand-filtered deployment, and an ecosystem that is absorbing capital at the pace it arrives. Read the full report: docsend.com/v/q3fbx/og-mon… with credits to @0xavarek

The UFO files are crazy: gmonads.com

Everybody wants to be a founder, but nobody wants to lift no heavy *** weights

Payments, Trading, DeFi, RWAs, Stablecoins, Tokenization, FX, Agents All in one

The name is Hon, Keone Hon

Quick plug of other Monad media channels: YouTube: @monadfoundation" target="_blank" rel="nofollow noopener">youtube.com/@monadfoundati… Instagram: instagram.com/monad.xyz Reddit: reddit.com/r/Monad/ LinkedIn: linkedin.com/company/monad-… TikTok: @thepipeline_xyz" target="_blank" rel="nofollow noopener">tiktok.com/@thepipeline_x…

MIP-11 (Automatic Priority Fee Distribution) has been drafted by @category_xyz researchers. This proposal causes priority fees to be automatically shared to delegators, prorata to their stake, after deducting validator commission. Currently, all priority fees go to validators, who optionally share these fees with delegators using the `externalReward` syscall. This proposal makes the treatment of priority fees similar to the treatment of block rewards, and allows delegators to participate in the economics of the priority gas auction. Details As a recap, when users submit transactions on Monad, they pay a base fee and a priority fee. - Base fees are constant within a block (but vary from block to block based on recent network activity) and are burned. - Priority fees are variable (submitters send with elevated priority fee to have their transaction prioritized within a block) and are not burned. The protocol currently sends the priority fee to the node operator but gives the node operator the option of sharing it with their delegators using the `externalReward` syscall. However, most node operators are not sharing the rewards with their delegators, in part because it requires additional infrastructure to execute these syscalls periodically, and in part because it is difficult for users to know which node operators share these rewards. This proposal standardizes the behavior, causing priority fees to automatically share `(1 - commission_rate)` of the priority fees to delegators. This proposal slightly lowers node operator revenue and increases staker revenue. I want to mention a few philosophical points. When delegators bring stake to a node, they increase the number of blocks that that node will produce, thus increasing the amount of block rewards. They are compensated accordingly, receiving their "share" of the total block rewards earned by the validator (minus the commission of course). Priority fees are similar. The more stake a delegator brings, the more priority fees the validator unit earns. Smart delegators ought to demand their "share" of the priority fees as well, delegating to validators who agree to share the priority fees (after a commission). Validators would compete on sharing the priority fee and most stake would end up with validators who do so. However getting to that state with the current infrastructure is clunky. It is inconvenient for node operators have to set up the right infrastructure to call `externalReward` periodically, while handling corner cases like the dust threshold. It is also hard for delegators to see which node operators follow this policy since it is the presence or absence of action. This proposal standardizes the practice. Stakers receive most of the priority fees, while node operators continue to earn a cut proportional to the commission rate. Link to the MIP and the forum thread in the next post.