On August 14th, the parallel blockchain Monad announced the launch of the Monad Madness competition, which will distribute $1 million in prizes. Up to 20 teams can participate in each region, and multiple VCs can participate in the evaluation, accumulating more than $60 million in potential investment scale. The first phase will be held in New York from October 2nd to 4th, and the second phase will be held in Seoul, South Korea from December 6th to 8th.