Monad Proposes Post-Quantum Wallet Upgrade for Improved Security
Monad, a blockchain project that raised $19 million in 2023 and another $225 million in a Paradigm-led round in 2024, has proposed an upgrade to its wallet security. The proposal, called Flexible and Upgradeable Account Authentication, separates a wallet's permanent address from the credential used to authorize transactions.
This change would allow users to add, replace or retire credentials without moving assets to a new account, including traditional crypto keys and phone passkeys. It would also enable users to recover an account after losing a key by arranging for two trusted parties to jointly install a replacement.
The proposal is part of the wider effort to make blockchains post-quantum, offering an account-level answer rather than a network-wide upgrade. Monad's DeFi ecosystem now holds roughly $939 million in locked value, including about $732 million in stablecoins.