[OIP-5] Proposal to Expand OpenOcean DEX Aggregator to Monad Network

Summary:

This proposal advocates for OpenOcean to expand to Monad, a high-performance Layer 1 blockchain. By leveraging Monad’s advanced features and vibrant ecosystem, OpenOcean can enhance transaction efficiency, capture early-stage adoption benefits, and deliver value to our community. Monad just released its test net last week, it’s good timing for us to expand to it perform the beta test, and get ready for the main net launch.

Abstract:

Performance: Monad offers 10,000 transactions per second, 1-second block times, single-slot finality, and low-hardware requirements. These capabilities ensure high throughput and low latency for OpenOcean users.

Strong Background: Monad Labs was founded by a former Jump Trading team, a leader in TradFi, further solidifying trust in its foundation and technology.

Funding: With $244M in total raised capital, Monad is well-resourced for long-term development and ecosystem growth.

Community and Culture: Monad’s unique purple-themed branding and vibrant community foster strong engagement, creating a promising environment for OpenOcean to thrive.

EVM Compatibility: Seamless integration with existing Ethereum-based tools reduces development time and effort, accelerating OpenOcean’s entry into Monad’s ecosystem.

Expanding to Monad will position OpenOcean to capture value from an emerging super ecosystem for OpenOcean community, increase trading efficiency, and gain exposure to a large new user group.

Any potential risk:

Monad is a relatively new chain, there may be unforeseen bugs or vulnerabilities in the early main net phase.