Monad TVL Hits Record $831 Million as Phantom Ends Support

Monad's total value locked (TVL) has reached an all-time high of $831 million, according to CertiK. This milestone comes despite Phantom announcing its decision to end support for the Monad network.

The growth in TVL is largely driven by four major DeFi protocols on Monad: Aave V3, Euler V2, Pendle, and Morpho Blue. Aave V3's growth is particularly noteworthy, with a 630% increase to $273.8 million in just one month. However, this raises questions about whether the liquidity is organic or driven by incentive programs.

Monad's capital base has also expanded across real-world assets (RWAs) and stablecoins. Distributed RWA value reached $464.3 million, up 113.7%, while 30-day RWA transfer volume hit $531.4 million, a 520.7% jump. Stablecoin market cap on the network climbed to $1.12 billion, up 118.8%.

CertiK's AA rating and Skynet score of 89.29 suggest that Monad's high-performance network is becoming a broader financial stack spanning lending, yield, and real-world assets.