Nostra expands to Monad compatible with Ethereum following community vote

VaselineAugust 9, 2024

0 1 minute read

Nostra expands to Monad compatible with Ethereum following community vote

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Our Community voted 43.3% in favor of the extension to Monad.
Monad’s EVM parallelization will support Nostra’s DeFi and payment applications.

Nostra, a decentralized finance (DeFi) project based on Starknet, today announced plans to implement Monad, an Ethereum-compatible Tier 1 blockchain. This move marks Nostra’s expansion into the EVM-compatible space following a community-led decision process.

The decision to partner with Monad came after Nostra ran a poll on Twitter last week asking its community to vote on potential expansion targets. Monad received 43.3% of the votes, beating other options such as Berachain (30.9%), MegaETH (15.6%) and other alternatives (10.2%).

GMonad 💜

There has been a recent conversation in the community about whether Nostra should be compatible with EVM. https://t.co/odgJoDfcSL

The community has spoken and we are excited to announce that Nostra will expand its horizons and go multichain with @monad_xyz

Lots to talk about… pic.twitter.com/ISp9XrU445

— Nostra (🌹,🤌) (@nostrafinance) August 6, 2024

The expansion of Nostra to Monad aligns with the growing trend of multichain compatibility in the DeFi sector. The project aims to implement the “Super App”, which provides lending, lending, exchange and bridging functionality for cryptocurrencies, on the Monad blockchain.

Sapphire

Monad’s approach to scaling involves redesigning the Ethereum Virtual Machine (EVM) with parallelization, a method that has attracted attention in the crypto community for its potential to enable more sophisticated DeFi and payment applications.

Despite this new partnership, Nostra said it remains committed to Starknet, its original platform. The company sees this expansion as a step towards serving a wider user base across multiple blockchain ecosystems.

The move reflects a broader trend in the DeFi space, where projects are increasingly looking to operate on multiple chains to attract and retain users. As the blockchain landscape evolves, cross-chain operability becomes a key factor in project development and user adoption strategies.

This partnership between Nostra and Monad can contribute to the continued development of cross-chain interoperability in the DeFi sector. As more projects adopt multichain strategies, the crypto ecosystem could be moving towards increased blockchain interoperability.