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Monad Testnet (MON)

What is Monad?​

Monad is a high-performance Layer 1 blockchain designed to enhance Ethereum compatibility while delivering exceptional scalability and speed. As of March 2025, Monad operates in its testnet phase, aiming to process up to 10,000 transactions per second (TPS) with 1-second block times and low fees.

Here are 5 key points about the Monad Testnet:

  • Monad combines Ethereum Virtual Machine (EVM) compatibility with innovations like parallel transaction execution and a custom consensus mechanism to overcome Ethereum’s scalability limitations.

  • Monad is a standalone Layer 1 blockchain, prioritizing decentralization and security while offering a familiar environment for Ethereum developers and users.

  • The Monad Testnet allows developers and early adopters to test smart contracts and decentralized applications (dApps) in a live setting.

  • Monad achieves its high throughput and low latency through parallel execution and its own MonadBFT consensus.

  • In the testnet, transaction fees are paid using a token called MON (testnet MON), which has no real-world value and is distributed via faucets.

tip

Learn more about Monad by reading the Gem Wallet Learn article:
What Is The Monad Blockchain?

Monad on Gem Wallet​

Gem Wallet has the following features enabled for Monad Testnet:

  • Store Monad (MON) securely.
  • Send and Receive Monad tokens.
  • Swap Monad (MON) natively.
  • Connect to Monad DApps via WalletConnect.
note

For the anticipated mainnet, Monad will use a native token for gas fees—potentially named MON, though this is not yet officially confirmed. This native token will function similarly to Ethereum’s MON, powering transactions and smart contract interactions.

Monad on GemWallet Monad on GemWallet 2

What are ERC20 tokens on Monad?​

  • ERC20 tokens on the Monad blockchain are tokens that adhere to the ERC20 standard but are deployed and operate within the Monad ecosystem.
  • These tokens retain the same properties and functionalities as ERC20 tokens on Ethereum, thanks to Monad's compatibility with the Ethereum Virtual Machine (EVM).
  • Transactions involving ERC20 tokens on Monad incur significantly lower fees compared to those on the Ethereum network.

How to Get Monad (MON)?​

Here are some ways to acquire some Monad (MON):

  • Get Monad Testnet tokens via the official faucet at https://testnet.monad.xyz.
  • Buy Monad (MON) directly on the Gem Wallet app. (Coming Soon)
  • Receive Monad (MON) with the unique Monad address on the Gem Wallet app.

Enable Monad on GemWallet Receive Monad on GemWallet

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  • Manually enable Monad by tapping on the Manage Token List.
  • Send only Monad Testnet (MON) on the address.

Transaction Fees on Monad​

The fees on Monad are summarized as follows:

  • Compared to Ethereum’s Layer 1, Monad reduces transaction costs by leveraging Layer 2 solutions.

  • Designed for efficiency, Monad offers low fees even during high activity, dynamically adjusted based on demand.

  • Transaction fees on the Monad Testnet are paid in testnet MON.

Send Monad on GemWallet Monad Fees on GemWallet

How to Check Monad (MON) Balance?​

Gem Wallet app connects to the Monad Blockchain to show the MON balance on your wallet. Tap on the 3 dots at the upper right corner, then tap on View address on Monad Explorer.

View MON Balance Screen MON Transaction Screen

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Monad Explorer is the default Monad explorer of Gem Wallet. You can manually check balances and transactions by going to Monad Explorer and search for your MON address.

View Balance on Monad Explorer View Transaction on Monad Explorer

Why Choose Gem Wallet for Monad Testnet?​

Gem Wallet is a secure and efficient solution for managing Monad assets. Here’s why it’s the best choice:

Seamless EVM Compatibilityn: Gem Wallet fully supports Monad, enabling smooth interaction with dApps and smart contracts.

Self-Custody Security: Users retain full control over their private keys, ensuring secure management of assets.

Multi-Chain Integration: As an open-source, multi-chain wallet, Gem Wallet allows users to manage assets across Ethereum, Monad, and other blockchain ecosystems.

Conclusion​

Monad Testnet is a glimpse into a scalable, Ethereum-compatible future. Whether you’re a developer or an enthusiast, Gem Wallet provides the tools to explore Monad’s ecosystem today.