PANews reported on April 2nd that, according to The Block, the total value locked (TVL) on the Monad blockchain reached $355 million, a growth of over 55% since early February, making it the fastest Layer 1 blockchain to surpass $300 million in TVL in recent years. The network is scheduled to launch its mainnet in November 2025, reaching this milestone in approximately four months. However, Monad's daily transaction fee revenue is less than $3,000, meaning its $355 million capital only generates about a six-figure annual revenue. Its fee-to-TVL ratio is among the lowest of all chains with substantial TVL. While well-known DeFi protocols such as Uniswap, Curve, and Morpho have integrated into the network, the existence of protocols does not guarantee the presence of actual users. As of this writing, the fully diluted valuation (FDV) of the MON token is approximately $2.2 billion, a decrease of about 50% from its peak of $4.7 billion four months ago.