Waiting at the crossroads of the Monad Mainnet launch: should we move forward with the ecosystem or remain steadfast in place?

Author: yyy

Introduction:

The launch of the Berachain mainnet and its ecological development has seriously fallen short of expectations, shattering the dreams of the native ecological protocol TGE plan, with the on-chain protocols that have not yet issued tokens becoming the victims of the bear market TGE.

Taking the Bear Chain as a reference, Monad is at a critical juncture about to launch its mainnet TGE. What should the ecological protocols do next? Some project teams have already left early, while others are still holding their ground.

Monad and Berachain can be said to be the two high-performance L1 chains most favored by capital in this bull market, one representing the ultimate ponzi culture narrative, and the other leading the direction of ultra-high-performance public chain reform.

Institutions love everything related, and the native ecosystem protocols on Berachain and Monad are also favored by capital. The ecosystem star protocol on Berachain, @InfraredFinance, has completed nearly $20 million in financing across three rounds; @honeypotfinance with a valuation of $20 million; @origami_fi, which has participation from Berachain founders and several OGs from the bear market, among others.

Berachain launched its mainnet and synchronized its TGE on February 6, but seven months have passed, and to this day, there are still many protocols on Berachain that have not yet undergone TGE.

@monad On-chain ecological protocol financing data is more impressive than that of the Berachain ecosystem: MEV and LSD infrastructure layer @apr_labs completed multiple rounds of financing totaling $30.7 million; native CLOB DEX protocol @KuruExchange completed 2 rounds totaling $13.6 million; native perp DEX @perpltrade completed $9.25 million in financing; prediction market protocol @opinionlabsxyz completed $5 million in Pre-Seed round financing……

The ecological protocols on the Monad chain are all waiting for the launch of TGE after the Monad mainnet goes live.

The Great Game of Timing for Ecological Protocol TGE

The timing selection for the TGE of a top-tier on-chain ecological protocol is a grand game. Some project teams choose to conduct their TGE on other chains before the mainnet launch, some choose to do it immediately after the mainnet launch, and others choose to act based on the ecological heat of the chain and the overall crypto environment after the mainnet launch.

I do not refer to the project's choice of timing for the TGE as a "big gamble," but rather as a "big game of strategy." The reason is that "gambling" is based on a scenario of complete information asymmetry, while the ecological project teams are among those most familiar with the public chain teams. They have a very strong sense of whether the public chain teams are doing real work or just talking nonsense.

However, the ecological development changes after the launch of the mainnet TGE of the public chain are not entirely controllable by the team and are full of uncertainties and unknowns. The bargaining space for ecological projects lies in the market-making ability, promotion ability, incentive measures of the public chain team, and most importantly, the expectations for future cryptocurrency market trends.

During the long wait for the @monad mainnet launch, many projects couldn't hold on and chose to migrate to other chains. A representative project is the Monad native LSD protocol @Kintsu_xyz, which ultimately decided to launch its mainnet on the @HyperliquidX chain.

Postscript

According to multiple sources, @monad is expected to launch its mainnet and TGE in Q4. Before the mainnet goes live, there may be protocol options similar to @Kintsu_xyz that choose to leave.

But I believe that more native protocols will stand firm in place. Betting the life and death of the protocol on a single native public chain, where one thrives, all thrive, is indeed a great undertaking.