Monad (MON) founder Keone Hon has responded to BitMEX founder Arthur Hayes’ recent harsh criticism of MON with a comprehensive statement.
Hayes claimed that MON was “99% foolproof” and argued that the project was “not even close” to Solana. Hon, however, defended Monad’s differences in a statement, detailing both the project and the technology under development.
In his message to Hayes, Hon began by expressing respect for his contributions to the cryptocurrency industry, then pointed out that recent comments about the Monad may have been taken out of context. Following the criticism that followed, he answered the question: “Why is the Monad different?” » one by one.
According to Hon’s statement, the main characteristics of Monad are summarized as follows:
Monad’s main focus is speed. Hon noted that when users withdraw MON from Coinbase, their assets appear on the network within 1-2 seconds, thanks to the newly developed architecture. Monad is built entirely from the ground up in C++ and Rust, incorporating high-frequency trading (HFT) style optimizations. Built on this architecture, the network, powered by 170 global validators, aims to deliver high throughput while maintaining decentralization.
Hon argues that Monad proves otherwise, challenging the prevailing assumption that blockchains must be centralized to be effective. Unlike Layer 2 (L2) or data center chains, which rely on a single sequencer, Monad creates a “neutral, decentralized, and trustless infrastructure.”
According to the founder, Monad’s technical innovations include the new MonadBFT consensus mechanism, which would solve the tail forking problem; Async Execution, which increases efficiency by separating consensus and execution; a JIT compiler that compiles to native code; the new MonadDb database; the advanced RaptorCast block propagation system; and parallel execution. Hon noted that Ethereum is also working on transitioning to an asynchronous execution model, saying Monad offers cutting-edge innovations.
Hon said the ecosystem is still at the beginning of the journey, but new applications are being developed rapidly with young and aggressive teams, and the Monad Foundation and Category Labs will continue to move aggressively in research and development.
Hon noted that MON was the first token listed on Coinbase’s token sale platform, explaining that the sale was conducted using a “bottom-up” model to prevent whales from collecting the entire sale. He stressed that this method aims to generate as wide a participation as possible.
At the end of his statement, Hon offered to send MON to Arthur Hayes and said: “Thank you again for your contributions, see you on the channel.”
*This does not constitute investment advice.