Following Berachain’s mainnet launch, its ecosystem development fell short of expectations, hindering the TGE plans of its native protocols and turning them into "victims of bear-market chain TGEs." Learning from this, Monad—another highly anticipated high-performance blockchain—now stands at a critical juncture with its mainnet launch and TGE approaching. Ecosystem protocols face strategic choices:

• Some protocols, like the LSD project @Kintsu_xyz, have already migrated to other chains (e.g., Hyperliquid) for TGE.

• Most protocols remain committed, awaiting Monad’s mainnet launch to initiate TGE. These include well-funded projects such as MEV infrastructure @apr_labs ($30.7 million raised) and CLOB DEX @KuruExchange ($13.6 million raised).

• TGE timing has become a "great game," requiring projects to balance factors like the blockchain team’s market-making capabilities, ecosystem momentum, and overall crypto market conditions.

Monad’s mainnet is expected to launch in Q4, putting ecosystem protocols to the test in a "sink-or-swim" scenario. While some projects may continue to migrate, most are likely to stand firm.

Summary
Authored by: yyy

Introduction:
Berachain’s mainnet launch fell severely short of ecosystem development expectations, shattering the TGE plans of its native protocols and leaving链上协议 that haven’t issued tokens as casualties of a bear-market chain TGE.

Learning from Berachain’s experience, Monad now stands at the critical juncture of its mainnet launch and TGE. How should its ecosystem protocols proceed? Some projects have already migrated, while others remain steadfast.

Monad and Berachain are arguably the two most capital-favored high-performance L1 chains this bull cycle—one representing the ultimate ponzi culture narrative, the other pioneering the direction of ultra-high-performance blockchains.

Institutions爱屋及乌, and native ecosystem protocols on Berachain and Monad have similarly garnered capital favor. Berachain’s star protocol, @InfraredFinance, raised nearly $20 million across three rounds; @honeypotfinance with a $20 million valuation; and @origami_fi, backed by Berachain’s founders and many OG supporters.

Berachain launched its mainnet and conducted its TGE on February 6, but seven months later, many protocols on the chain have yet to initiate their TGEs.

Monad’s ecosystem protocols boast even more impressive fundraising data:

• MEV and LSD infrastructure layer @apr_labs raised $30.7 million across multiple rounds.

• Native CLOB DEX protocol @KuruExchange raised $13.6 million over two rounds.

• Native perp DEX @perpltrade raised $9.25 million.

• Prediction market protocol @opinionlabsxyz raised $5 million in a Pre-Seed round.

Without exception, all native protocols on Monad are awaiting the chain’s mainnet launch to initiate their TGEs.

The Great Game of TGE Timing
For top-tier链上协议, choosing the right TGE timing is a high-stakes game. Some projects migrate to other chains for TGE before the mainnet launch; some initiate TGE immediately after the mainnet goes live; others wait, gauging ecosystem momentum and broader crypto market conditions.

I call this a "great game" rather than a "great gamble" because project teams are among the most familiar with the blockchain team. They have a strong sense of whether the team is delivering real value or just empty promises.

However, the evolution of the ecosystem post-mainnet launch and TGE is not entirely within the team’s control—it is fraught with uncertainty and unknowns. The博弈空间 for ecosystem projects lies in the blockchain team’s market-making capabilities, promotional efforts, incentive measures, and, most importantly, expectations for the future crypto market.

During the long wait for @monad’s mainnet launch, some projects have grown impatient and migrated to other chains. A representative example is Monad’s native LSD protocol @Kintsu_xyz, which ultimately chose to launch on the @HyperliquidX chain.

Afterword
According to multiple sources, @monad is expected to launch its mainnet and conduct its TGE in Q4. Before the mainnet goes live, more protocols like @Kintsu_xyz may choose to migrate.

However, I believe most native protocols will stand firm. Betting their survival on the success of a single native blockchain—rising and falling together—is, in its own way, a bold and remarkable endeavor.

Following Berachain’s mainnet launch, its ecosystem development fell short of expectations, hindering the TGE plans of its native protocols and turning them into "victims of bear-market chain TGEs." Learning from this, Monad—another highly anticipated high-performance blockchain—now stands at a critical juncture with its mainnet launch and TGE approaching. Ecosystem protocols face strategic choices:

• Some protocols, like the LSD project @Kintsu_xyz, have already migrated to other chains (e.g., Hyperliquid) for TGE.

• Most protocols remain committed, awaiting Monad’s mainnet launch to initiate TGE. These include well-funded projects such as MEV infrastructure @apr_labs ($30.7 million raised) and CLOB DEX @KuruExchange ($13.6 million raised).

• TGE timing has become a "great game," requiring projects to balance factors like the blockchain team’s market-making capabilities, ecosystem momentum, and overall crypto market conditions.

Monad’s mainnet is expected to launch in Q4, putting ecosystem protocols to the test in a "sink-or-swim" scenario. While some projects may continue to migrate, most are likely to stand firm.

Summary
Authored by: yyy

Introduction:
Berachain’s mainnet launch fell severely short of ecosystem development expectations, shattering the TGE plans of its native protocols and leaving链上协议 that haven’t issued tokens as casualties of a bear-market chain TGE.

Learning from Berachain’s experience, Monad now stands at the critical juncture of its mainnet launch and TGE. How should its ecosystem protocols proceed? Some projects have already migrated, while others remain steadfast.

Monad and Berachain are arguably the two most capital-favored high-performance L1 chains this bull cycle—one representing the ultimate ponzi culture narrative, the other pioneering the direction of ultra-high-performance blockchains.

Institutions爱屋及乌, and native ecosystem protocols on Berachain and Monad have similarly garnered capital favor. Berachain’s star protocol, @InfraredFinance, raised nearly $20 million across three rounds; @honeypotfinance with a $20 million valuation; and @origami_fi, backed by Berachain’s founders and many OG supporters.

Berachain launched its mainnet and conducted its TGE on February 6, but seven months later, many protocols on the chain have yet to initiate their TGEs.

Monad’s ecosystem protocols boast even more impressive fundraising data:

• MEV and LSD infrastructure layer @apr_labs raised $30.7 million across multiple rounds.

• Native CLOB DEX protocol @KuruExchange raised $13.6 million over two rounds.

• Native perp DEX @perpltrade raised $9.25 million.

• Prediction market protocol @opinionlabsxyz raised $5 million in a Pre-Seed round.

Without exception, all native protocols on Monad are awaiting the chain’s mainnet launch to initiate their TGEs.

The Great Game of TGE Timing
For top-tier链上协议, choosing the right TGE timing is a high-stakes game. Some projects migrate to other chains for TGE before the mainnet launch; some initiate TGE immediately after the mainnet goes live; others wait, gauging ecosystem momentum and broader crypto market conditions.

I call this a "great game" rather than a "great gamble" because project teams are among the most familiar with the blockchain team. They have a strong sense of whether the team is delivering real value or just empty promises.

However, the evolution of the ecosystem post-mainnet launch and TGE is not entirely within the team’s control—it is fraught with uncertainty and unknowns. The博弈空间 for ecosystem projects lies in the blockchain team’s market-making capabilities, promotional efforts, incentive measures, and, most importantly, expectations for the future crypto market.

During the long wait for @monad’s mainnet launch, some projects have grown impatient and migrated to other chains. A representative example is Monad’s native LSD protocol @Kintsu_xyz, which ultimately chose to launch on the @HyperliquidX chain.

Afterword
According to multiple sources, @monad is expected to launch its mainnet and conduct its TGE in Q4. Before the mainnet goes live, more protocols like @Kintsu_xyz may choose to migrate.

However, I believe most native protocols will stand firm. Betting their survival on the success of a single native blockchain—rising and falling together—is, in its own way, a bold and remarkable endeavor.