Explore Monad: A high-speed (10,000 TPS), low-fee EVM blockchain. Learn to connect to the testnet, use wallets, get test tokens, and experiment with

Welcome to the first installment of our three-part series exploring Monad, an exciting new player in the blockchain space! If you're curious about cutting-edge technology and the potential of decentralized applications (dApps), you're in the right place. This series will guide you through what Monad is, how it works, and – importantly – how you can get involved with its testnet. We'll break down complex concepts into easy-to-understand language, so even if you're new to crypto, you'll be able to follow along.

This is also for seasoned crypto pros, as Monad is trying to solve some of the most difficult problem that blockchain technology is facing.

Part 1: Understanding Monad and Setting Up for the Testnet

Before we jump into the hands-on stuff, let's get a solid grasp of what Monad actually is. Think of it as a foundational layer – a "Layer 1" blockchain – much like Ethereum. But unlike a lot of newer blockchains that try to reinvent the wheel, Monad takes a different approach: it's built to be fully compatible with the Ethereum Virtual Machine (EVM).

Why is EVM compatibility such a big deal?

Imagine you've built a fantastic Lego castle. Now, imagine someone comes along and says, "Hey, that's cool, but it won't work on our new Mega Bloks baseplate." That's kind of what it's like for developers building dApps on non-EVM-compatible blockchains. They have to rebuild their creations from scratch.

Monad's EVM compatibility means that developers can seamlessly port their existing Ethereum dApps over to Monad. No rebuilding, no headaches, just a smooth transition. This is a huge advantage for attracting developers and fostering a thriving ecosystem.

But it's not just about compatibility. Monad is bringing some serious performance upgrades to the table:

• Parallel Execution: This is Monad's secret sauce. Most blockchains process transactions one after the other, like a single-lane road. Monad, however, uses parallel execution, which is like turning that road into a multi-lane highway. It can process many transactions simultaneously, leading to significantly faster speeds.

• MonadBFT (Byzantine Fault Tolerance): This is the consensus mechanism that keeps the network secure and running smoothly.

• Deferred Execution: MonadB uses asynchronous execution, where state access is made explicit and transactions that do not conflict are run in parallel.

• MonadDb: This is the database that is designed to efficiently store the blockchain state data.

The Promise: Speed and Low Fees

The goal is to achieve a whopping 10,000 transactions per second (TPS). To put that in perspective, Ethereum currently handles around 15-45 TPS. This increased speed, combined with Monad's design, is intended to result in drastically lower transaction fees (gas costs). Imagine being able to send tokens or interact with your favorite DeFi protocol without paying an arm and a leg!

Monad achieves asynchronous, parallel execution of smart contracts, allowing it to reach this performance, while maintaining full EVM bytecode compatibility.Monad introduces several novel innovations:

1. MonadDb: A custom-built, asynchronous, and high-performance database designed to efficiently handle the state of the blockchain.

2. MonadBFT: An optimized Byzantine Fault Tolerant (BFT) consensus mechanism, used for agreement on the ordering of transactions.

3. Deferred Execution: A unique approach to executing transactions, where the consensus algorithm first agrees on the order of transactions and then executes them asynchronously.

The Testnet: Your Playground (and Potential Rewards?)

A testnet is essentially a "beta version" of a blockchain. It allows developers to test their applications and the network itself to be stress-tested in a real-world environment, without the risk of losing real money. And for us, the users, it's a chance to get a sneak peek at the future – and potentially be rewarded for our participation.

While there's no guarantee of an airdrop (free tokens) for testnet users, many projects in the past have rewarded early adopters. It's a way of saying "thank you" for helping to improve the network. So, while we're exploring Monad for its tech, there's also that little glimmer of hope for some future goodies.

Step-by-Step: Getting Your Wallet Ready

Alright, let's get our hands dirty! The first step is to set up a cryptocurrency wallet that supports the Monad testnet. Think of a wallet as your digital bank account for crypto.

Important Safety Tip: The Burner Wallet

For testnets, it's highly recommended to use a "burner wallet." This is a wallet you create specifically for testing purposes. It's separate from your main wallet where you might store valuable cryptocurrencies. Why? Because testnets are experimental, and there's always a slight risk of bugs or security vulnerabilities. Using a burner wallet protects your main funds from any potential mishaps.

Wallet Options:

There are a few wallets that offer native support for the Monad Testnet, making setup a breeze:

• Wikir:

• Rabby:

• Zeal:

• Brave: A web browser with a built-in crypto wallet.

If you prefer, you can also manually add the Monad Testnet to a wallet like MetaMask, one of the most popular crypto wallets. If you do not have MetaMask, you can download it as a browser extention on its official website. Here's how:

1. Open MetaMask: Click on the MetaMask extension icon in your browser.

2. Go to Settings: Click on the network selection dropdown (usually says "Ethereum Mainnet" by default).

3. Add Network: Select "Add Network" (or "Custom RPC" in some versions).

4. Enter the Details: You'll need to fill in the following information:

   • Network Name: Monad Testnet

   • New RPC URL: https://testnet-rpc.monad.xyz/

   • Chain ID: 10143

   • Currency Symbol: MON

   • Block Explorer URL (optional): http://testnet.monadexplorer.com/

5. Alternative way to add network. Click on the "Add Monad Testnet" at https://testnet.monad.xyz/.

6. Save: Click "Save," and you should now see "Monad Testnet" in your network list.

Step 3: Claiming Your Testnet Tokens

Once your wallet is set up and connected to the Monad Testnet, you'll need some testnet MON tokens to play around with. These tokens have no real-world value – they're just for testing.

The Faucet:

The usual way to get testnet tokens is through a "faucet." A faucet is a website that dispenses a small amount of testnet tokens for free. You can access Monad's provided faucet site, by clicking on the blue text: here.

The Monad Faucet is designed to provide users with testnet MON tokens for testing purposes. The faucet website is straightforward, featuring a clean, minimalist design with a distinct purple and black color scheme. The main page displays the faucet's title, "Monad Testnet Faucet," and the amount of MON you can claim, which is 0.1337 MON.

You will have to enter your wallet address, and click CLAIM.

Important Note: At times, the official Monad faucet might be temporarily paused due to high demand.As of the time of the video's creation, the official faucet was paused, and the alternate faucets needed existing Ethereum transactions, which a new wallet would not have. This highlights one of the challenges of participating in testnets – things can change rapidly!

Don't despair if the faucet is down! There are a couple of alternative approaches:

• Community Faucets: Check Monad's official Discord or Twitter. You might find community members sharing links to alternative faucets or even offering to send testnet tokens directly to other users.

• Gas.zip: This is another faucet that might work, but it often has requirements, like having a certain number of transactions on other testnets.

If you are having trouble with the faucets, check your existing EVM addressess-there might be something there!

Key Takeaways for Part 1:

• Monad is a promising new EVM-compatible blockchain aiming for high speed and low fees.

• The testnet is a great way to experience Monad firsthand and potentially earn rewards.

• Always use a burner wallet for testnets to protect your main funds.

• Getting testnet tokens can sometimes be tricky, but there are usually alternative ways to obtain them.

In Part 2, we'll explore some of the dApps available on the Monad Testnet and walk through some basic interactions. Stay tuned!

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Part 2: Exploring the dApp Ecosystem

In Part 1, we got our feet wet by understanding what Monad is all about and setting up our wallets to connect to its testnet. Now, the real fun begins! It's time to explore some of the decentralized applications (dApps) that are already live on the Monad testnet. Remember, this is a testing environment, so expect things to be a bit rough around the edges – that's part of the charm!

A Quick Recap: Before we dive in, make sure you've completed the steps from Part 1:

You've created a burner wallet (or configured a wallet like MetaMask for the Monad Testnet).

You've (hopefully!) acquired some testnet MON tokens from a faucet. If not, keep trying or look for community members who might be willing to share.

Let's Explore Some dApps!

The Monad testnet already has a growing ecosystem of dApps, ranging from decentralized exchanges (DEXs) to staking platforms, and even some fun and games. We'll cover some of the key ones highlighted, and you can always explore more on your own.

Uniswap: Your Gateway to Token Swaps

Uniswap is a household name in the DeFi world. It's a decentralized exchange (DEX) that allows you to swap one token for another without relying on a central authority. The Monad testnet has its own version of Uniswap, and it's a great place to start experimenting.

How to Use Uniswap on Monad Testnet:

• Go to the Website: Head over to the Monad section of Uniswap, or you can use this link: https://testnet.monad.xyz/

• Connect Your Wallet: If your wallet is not already connected, click the "Connect Wallet" button and choose your wallet provider (MetaMask, Rabby, etc.). Make sure you're connected to the Monad Testnet network.

• Select Tokens: You'll see two dropdown menus: one for the token you want to sell (e.g., MON) and one for the token you want to buy (e.g., DAK, YAKI, or CHOG – the testnet meme coins).

• Enter the Amount: Type in the amount of the token you want to sell. The interface will automatically calculate the estimated amount of the token you'll receive.

• Swap: Click the "Swap" button. Your wallet will prompt you to confirm the transaction. Review the details (especially the gas fee, even though it's testnet MON) and confirm.

• Wait for Confirmation: The transaction might take a few seconds (or even minutes, it's a testnet!) to be processed. Once it's confirmed, you'll see the new tokens in your wallet.

Important Tip: When entering amounts, remember that you're dealing with fractions of MON. Don't accidentally try to swap 1 MON when you only have 0.5! Start with small amounts like 0.001 MON to get the hang of it.

Reversing the Trade: If you made a mistake, or you want to trade one for the other, you can do it by going here: https://app.uniswap.org/swap?chain=monad

Magma: Staking Your MON for gMON

Magma is a liquid staking platform on Monad. Staking is a way to earn rewards by locking up your tokens to support the network. Liquid staking is a bit more advanced – it allows you to stake your tokens and still have access to a liquid representation of those staked tokens (in this case, gMON).

• How to Stake on Magma:

• Go to the Website: Visit the Magma Staking platform: https://magmastaking.xyz/

• Connect Your Wallet: Connect your wallet, ensuring you're on the Monad Testnet.

• Choose "Stake": You'll likely see a clear "Stake" button or section.

• Enter the Amount: Input the amount of MON you want to stake.

• Confirm: Click "Stake" and confirm the transaction in your wallet.

You'll receive an equivalent amount of gMON, which represents your staked MON. You can potentially use gMON in other DeFi applications while still earning staking rewards.

A.P. Prior: Another Staking Option

A.P. Prior is another staking platform, similar to Magma. It's always good to explore different options and see which interface you prefer.

How to Stake on A.P. Prior:

• Go to the Website: Visit the A.P. Prior platform: https://stake.apr.io/

• Connect Your Wallet: Ensure your wallet is connected and on the Monad Testnet.

• Enter Amount: Select how much Monad you want to Stake.

• Click "Stake": Stake your Monad, to get aprMon.

Multipli: Staking Stablecoins

Multipli is a platform for staking stablecoins like USDT and USDC on the Monad testnet.

How to Use Multipli:

Go to the Website: Visit the Multipli website: https://testnet.multipli.fi/

Connect: When you connect to your wallet, you will need to verify a message. Enable the L2 Access.

Faucet: If this is your first time, you will need to claim free tokens. Click on the button and select "Claim Tokens". You will receive 50 USDC.

Select Monad: Once the pop up shows up, select Monad.

Stake and Unstake: Pick your amount and do the stake and unstake activities.

Nad Name Service: Claim Your Web3 Identity

Nad Name Service is like a phonebook for the Monad blockchain. Instead of remembering long, complicated wallet addresses, you can register a human-readable ".nad" domain name.

How to Register a .nad Domain:

• Go to the Website: Navigate to the Nad Name Service platform: https://app.nad.domains/

• Connect Your Wallet: Connect your wallet (on the Monad Testnet, of course).

• Search for a Name: Enter the name you'd like to register (e.g., "yourname.nad"). The platform will tell you if it's available.

• Register: If the name is available, you'll see a registration fee (in testnet MON, of course). Click "Register" and confirm the transaction in your wallet.

Keep in mind, that it will only register to the testnet. The name will not be available on the mainnet.

Layer3: Complete the Quests

Layer3 is a platform that guides you through different Web3 projects by presenting a series of tasks, or quests, and rewards you for completing them.

How to Complete the Quests:

• Go to the website: You can visit Layer3 here: https://app.layer3.xyz/quests?q=monad

• Connect: Connect your wallet.

• Complete the tasks: You will be presented with different Monad quests:

• Monad Explorer: Uniswap

• Monad Explorer: Get Started

• Magic Eden: Monad Explorer

Curvance: Dive into DeFi Lending and Borrowing

Curvance is a DeFi platform on Monad that focuses on lending and borrowing. This allows you to lend out your tokens to earn interest or borrow tokens against your collateral.

• How to use Curvance:

• Go to the Website: Visit the Curvance: https://monad.curvance.com/

• Connect: Click on the bell icon on the top right, and a pop-up will appear.

• Complete tasks: Complete all the testnet tasks, just like we have done in the previous steps.

Ambient: Trade and Provide Liquidity

Ambient is a decentralized exchange (DEX) on Monad, similar to Uniswap. It allows users to trade tokens and provide liquidity to earn fees.

How to Use Ambient Finance:

• Go to the Website: Visit the Ambient platform: https://monad.ambient.finance/

• Connect Your Wallet: Make sure that you are connected to Monad testnet.

• Trade and Explore:

• Swap MON for USDC.

• Add tokens to a liquidity pool, if you would like.

Key Takeaways for Part 2:

• The Monad Testnet offers a variety of dApps to experiment with.

• DEXs like Uniswap and Ambient allow you to swap tokens.

• Staking platforms like Magma and A.P. Prior let you earn rewards by locking up tokens.

• Nad Name Service lets you register a memorable .nad domain.

• Curvance allows you to participate with its lending and borrowing tasks.

• Layer3 is a questing site that you can also complete and earn rewards.

In Part 3, we'll go beyond the basics and look at some more advanced interactions, and resources for staying up-to-date with the Monad ecosystem. Get ready to level up your testnet game!

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Part 3: Advanced Interactions and Staying Informed

So far, we've covered the basics of Monad, set up our wallets, obtained testnet tokens, and interacted with some core dApps. Now, let's explore some additional avenues and resources to deepen your Monad testnet experience.

Beyond the Basics: More Ways to Interact

While the dApps we covered in Part 2 provide a great starting point, the Monad ecosystem is constantly evolving. Here are a few more things you might want to explore:

• Fantasy Top: This is a game that combines influencers, trading cards, and deck-building. It's more complex than the other dApps we've covered, and it deserves a dedicated explanation. Basically you collect cards and try to build a strong deck. There is a tournament that offers NFT whitelist spots as prizes.

• Explore Other Featured Apps: On the Monad testnet website (https://testnet.monad.xyz/), there's a "Featured Apps" section. Don't be afraid to click around and try out different applications. Remember, you're using a burner wallet and testnet tokens, so there's minimal risk. Some of the apps listed there include:

  • Kuru

  • Kizzy

  • Magic Eden

  • Plato

  • Nad.fun

• Look for Community-Built Tools: Keep an eye on Monad's social channels (Discord, Twitter) for announcements about new tools and resources created by the community. These could include things like:

  • Alternative Faucets: If the official faucet is down, community members might create their own.

  • Explorers: Block explorers are websites that let you view transactions and other data on the blockchain. Monad has its own explorer, but there might be others with additional features.

  • Analytics Dashboards: These dashboards can provide insights into network activity, dApp usage, and more.

Staying Informed: Keeping Up with Monad

The world of blockchain moves fast, and Monad is no exception. To stay up-to-date on the latest developments, announcements, and opportunities, it's crucial to follow these resources:

• Official Monad Website: (https://www.monad.xyz/) This is your primary source for official information.

• Monad Twitter: (https://twitter.com/monad_xyz) Follow Monad on Twitter for real-time updates, announcements, and community engagement.

• Monad Discord: Join the Monad Discord server. This is where the community hangs out, discusses the project, shares tips, and helps each other. It's also a great place to ask questions and get support.

• Monad Documentation: (https://docs.monad.xyz/) If you're technically inclined, dive into the official documentation to learn more about the inner workings of Monad.

• Web3 Media Outlets: Keep an eye on reputable crypto news websites and blogs for coverage of Monad and the broader blockchain ecosystem.

Important Considerations and Reminders

• Testnet Instability: Remember, the testnet is a testing environment. Expect bugs, downtime, and unexpected changes. Don't get frustrated if something doesn't work perfectly – that's part of the process!

• Burner Wallet Security: Even though it's a burner wallet, still practice good security habits. Don't share your seed phrase or private key with anyone. Be cautious about clicking on links from unknown sources.

• No Guarantees: There's no guarantee that testnet participation will lead to an airdrop or other rewards. Participate because you're interested in the technology and want to contribute to the project's development.

• Do Your Own Research (DYOR): This is a mantra in the crypto world. Don't just take my word (or anyone else's) for it. Do your own research to understand the risks and potential rewards of any project.

• Be Frugal: Do not use a lot of Monad tokens. Use small amounts, like the 0.001 shown in the video. The faucet can be down, and you will have to wait until you can use it again, or you can ask for help on the discord.

The Future of Monad

The Monad testnet is just the beginning. The project has ambitious goals, and if it succeeds in delivering on its promises of speed, low fees, and EVM compatibility, it could become a major force in the blockchain landscape. By participating in the testnet, you're not just playing around with new technology – you're potentially contributing to the future of decentralized applications.

Conclusion of the Series

This concludes our three-part series on Monad. We've covered the basics, explored the testnet, and discussed ways to stay informed. Now, it's up to you to continue your journey of exploration. Have fun, be curious, and remember that the world of blockchain is constantly evolving. Who knows – you might just discover the next big thing! And, maybe, just maybe, there will be an airdrop as a thank you for all your efforts. Good luck, and have fun on the Monad Testnet!