what's ShMonad?
ShMonad is a liquid staking protocol built on the Monad blockchain, designed to enable users to stake their native MON tokens while maintaining liquidity through the issuance of shMON, a derivative token that represents staked assets. This allows stakers to participate in DeFi applications, earn staking rewards, and benefit from Monad's high-performance EVM-compatible environment without locking up their funds. The protocol emphasizes validator adoption and MEV (Maximal Extractable Value) optimization through proprietary technologies like FastLane, which integrates with Monad's architecture to enhance network speed and yield. By facilitating decentralized MEV distribution, ShMonad aims to boost overall ecosystem efficiency, connecting validators, apps, and users in a testnet environment ahead of mainnet launch.
shMON/WMON liquidity pool is live on Balancer on Monad.
A shMON/WMON liquidity pool is now live on Balancer on Monad.
shMON captures 76% of the LST marketshare on Monad, while the FastLane protocol controls 3.16% of total circulating MON supply.
shMonad's APY data is now integrated into DeFiLlama's dataset and added to shMonad's frontend, with clarification that displayed APY excludes incentives and is expected to stabilize lower.
Borrow incentives launch on Monad with 600K $MON distributed across six assets including shMON, WETH, wstETH, WBTC, AUSD, and WMON.
Townsquare adds shMonad as a collateral asset, enabling borrowing functionality for shMON token holders.
FastLane holds ~$5.1m TVL with ~120m $MON staked at an exchange rate of 1 MON = 0.6874 shMON, ranking 7th among Monad protocols. Folks Finance integration shows ~$1.5m TVL, with native LSTs shMON and competing sMON holding positions in the top 10 protocols.
Folks Finance now live on Monad with shMON lending/borrowing markets and 5000 $FOLKS depositor incentives.
Binance did not list MON after Monad refused to pay 10% of token supply as listing fees. Potential CEX listings remain a catalyst for the Monad ecosystem, with recommendations to deploy into FastLane $shmon for $mon incentives.
The current shMON to MON exchange rate is approximately 0.69 shMON per MON.
Monad mainnet launches in ~12 hours with ShMonad's Points Program and new Degen Depository feature going live, offering multiple staking options and multipliers for MON depositors across partner DEXs and lending apps.
Points Program and Degen Depository launch as final stealth feature, with Monad mainnet going live in ~12 hours. Degen Depository sacrifices staking yield to regular shMON holders and will enable HFT block priority advantages through policy commitment system, while Points Program rewards MON deposits across lending apps, DEXs, and Concrete-managed shMonad Vault with multipliers for testnet users and NFT holders.
RedStone oracle will support shMON from mainnet day 1, providing oracle infrastructure for the liquid staking token powered by FastLane's MEV infrastructure.
First-year staking yields will be extremely high because investor and team unvested tokens are blocked from staking, reducing initial participation. shMON generates additional revenue from MEV beyond staking yields.
MON airdrop recipients can stake their MON tokens into shMON.
FAST token launches on Cardano blockchain to demonstrate alignment with Monad ecosystem and promote FastLane as LST/MEV provider.
MON staking goes live on testnet with custom RPC implementation and restaking security.
ATLAS expected to become largest revenue source for LST within a year, currently trailing validator MEV and paymaster yields.