Nostra Expands to Ethereum-Compatible Monad After Community Vote
Nostra, a decentralized finance (DeFi) project built on Starknet, has revealed its intention to launch on Monad, a Layer 1 blockchain compatible with Ethereum. This strategic move signifies Nostra’s foray into the EVM-compatible realm, driven by input from its community.
The choice to collaborate with Monad stemmed from a Twitter poll conducted by Nostra, where the community was asked to vote on potential expansion targets. Monad emerged as the preferred option with 43.3% of the votes, surpassing contenders like Berachain (30.9%), MegaETH (15.6%), and other alternatives (10.2%).
The decision to integrate with Monad aligns with the prevailing trend of multichain compatibility within the DeFi sector. Nostra aims to introduce its “Super App” on the Monad blockchain, offering a range of services such as lending, borrowing, swapping, and bridging for cryptocurrencies.
Monad’s approach to scalability involves revamping the Ethereum Virtual Machine (EVM) through parallelization, a technique that has garnered attention in the crypto community for its potential to facilitate more advanced DeFi and payment applications.
Despite this collaboration, Nostra remains committed to Starknet, its original platform. The company perceives this expansion as a move towards catering to a wider user base across various blockchain ecosystems.
This strategic shift mirrors a broader trend in the DeFi landscape, where projects are increasingly exploring operations across multiple chains to attract and retain users. As the blockchain environment evolves, cross-chain interoperability is emerging as a pivotal aspect of project development and user acquisition strategies.
The partnership between Nostra and Monad is poised to contribute to the ongoing advancement of cross-chain interoperability in the DeFi sector. With more projects embracing multichain strategies, the crypto ecosystem appears to be progressing towards enhanced blockchain interoperability.
