Monad, the week of 7 to 13 September
DeFi TVL crossed $1B for the first time on 9 September and peaked at $1.035B on the 12th, up 4.8% on the week across 137 protocols. Spot set a record too: $513M of DEX volume in a single day on 8 September
37.97M transactions over seven days, a five-week high, at 62.8 average TPS
But the other side of the ledger cooled. Active addresses 62,683, down 19.9%. New contracts 15,118, down 60.9%. MON went from $0.026 to $0.023 while TVL hit its all-time high
Shipped:
@monad API Hub, pay-per-request in USDC with no keys and no subscriptions, launching with Nansen, DefiLlama, ElevenLabs, Exa and Apify, then MiniMax. Ultrafuzz went open source.
Arrived: 1inch with the full stack, o1 Exchange, Ledger MON staking, Drake Exchange perps, Glider, Rocket Markets, Murk in public beta
Liquidity and infrastructure ran ahead of the crowd. That is the week