Golden Finance reports that Monad Labs has released technical documents for its upcoming proof-of-stake blockchain, which details that its native token will be named mon.

Monad is an Ethereum Virtual Machine-compatible blockchain that can handle up to 10,000 transactions per second with one-second block times. It claims to have optimized the way Ethereum works to provide greater throughput. The document states: “Monad has greatly improved the performance of EVM-compatible blockchain networks, pioneered multiple innovations and is expected to become an Ethereum standard in the coming years.” Users of the Monad blockchain will use mon tokens to pay for transactions to be included in blocks and for transactions to be executed.