Demex Daily #353: Monad Testnet Launches, Partners With Orderly for DeFi Growth

What’s Interesting Today:

Monad, an EVM-compatible layer-1 blockchain, is launching its testnet on Wednesday, partnering with Orderly Network to enhance DeFi activity. Orderly, which supports multiple chains and features market makers like Wintermute and Selini, aims to address liquidity fragmentation across DeFi. The Monad testnet offers traders a fast-building environment and potential airdrops, attracting users ahead of a possible second “DeFi summer.” With favorable U.S. regulations fueling optimism, Monad Labs, which raised $225 million in April 2024 led by Paradigm, is positioning itself as a key player in the evolving DeFi landscape.

Diffuse has partnered with Symbiotic to introduce Collateral Abstraction, a novel DeFi mechanism that unlocks the untapped potential of assets across Layer 1 and Layer 2 networks. This collaboration enables assets, such as those locked in Uniswap V3 liquidity pools, to generate additional yield through restaking and shared security protocols without altering their risk profile. Powered by Diffuse’s zkServerless technology, Collateral Abstraction ensures trustless and scalable implementation across multiple blockchains, enhancing capital efficiency and introducing a new DeFi primitive.