Project hub

Monaco

18 pieces · Jun 2025 to Oct 2025 · 2 flagship

Sectors

Perps16 Market structure10 L1/L27 Hyperliquid5 DeFi4 ZK2

Search every mention All projects

Coverage per year

182025

Start here · the strongest pieces on Monaco

Thesis11 Oct 2025Hyperliquid and the CLOB wars: learnings and predictionsLearnings from the A1 CLOB campaign: Hyperliquid leads on OI and volume, competitors show mercenary volume vs low OI, and CLOBs dominate perp DEX volume. Predicts perps replace memecoins, zero-fee models work, and HL stays ahead mid-term.Breakdown17 Oct 2025State of the CLOB Wars (A1 x GSR): key findings of the 50-page reportTL;DR of the A1 Research and GSR report: CLOBs hold over 71% of DEX volume, CEX-level performance is achieved, modular appchains compete with monolithic L1s, and application-controlled execution plus privacy and risk management are the next frontier.Map21 Jul 202520 pre-TGE projects without Kaito leaderboards: ZK, privacy, AI and CLOB infraA watchlist of 20 pre-TGE projects without a Kaito leaderboard, grouped implicitly across Bitcoin ZK rollups, proof verification, AI infra, CLOBs, privacy (MPC, FHE), stablecoin infra and oracles.

Timeline · every piece, newest first

2025 18

28 Oct 2025Sei GIGA upgrade and Autobahn consensus as enabler for MonacoSei GIGA scales the L1 to 5 gigagas/s (over 200k TPS) at 400ms latency via Autobahn's multi-proposer consensus and async execution. Monaco's Rust engine matches off-chain at microsecond latency and settles on Sei EVM in under 400ms.ExplainerL1/L2PerpsMarket structure

24 Oct 2025Monaco: shared CLOB liquidity layer on Sei without a native frontendMonaco's design without a native frontend, with shared liquidity and PitPass revenue share from orderflow, lowers developer overhead and the cold-start problem. It could return Sei to its 'Layer 1 for Trading' roots.ThesisPerpsL1/L2Market structure

17 Oct 2025State of the CLOB Wars (A1 x GSR): key findings of the 50-page reportTL;DR of the A1 Research and GSR report: CLOBs hold over 71% of DEX volume, CEX-level performance is achieved, modular appchains compete with monolithic L1s, and application-controlled execution plus privacy and risk management are the next frontier.BreakdownPerpsMarket structureDeFi

16 Oct 2025A1 Research CLOB campaign: reading list of 11 articles and reportIndex of A1 Research's CLOB campaign: 11 articles and a two-part report covering AMMs vs CLOBs, CLOB appchains, real-time chains, Hyperliquid, Paradex, Bullet, Monaco, privacy and institutional DeFi.OtherPerpsMarket structureDeFi

11 Oct 2025Hyperliquid and the CLOB wars: learnings and predictionsLearnings from the A1 CLOB campaign: Hyperliquid leads on OI and volume, competitors show mercenary volume vs low OI, and CLOBs dominate perp DEX volume. Predicts perps replace memecoins, zero-fee models work, and HL stays ahead mid-term.ThesisHyperliquidPerpsMarket structure

07 Oct 2025Monaco deep dive: Wall Street-grade trading layer on SeiA1 deep dive on Monaco: off-chain Rust matching with 5-25 microsecond latency, settlement on Sei under 400ms, gasless order management, a unified liquidity pool and PitPass revenue sharing instead of PFOF.BreakdownPerpsL1/L2Market structure

06 Oct 2025Real-time blockchains and onchain CLOBs: A1 article TL;DRTL;DR of A1's real-time chains article: parallel execution drives performance, hybrid offchain-matching designs are giving way to fully onchain systems, and shared liquidity layers like Monaco and DeepBook solve cold-start liquidity.BreakdownL1/L2PerpsMarket structure

05 Oct 2025Aster and paid KOL shilling in the CLOB wars: moat and fake volumeArgues hot narratives bring airdrop farming and paid KOL shilling, citing Aster as a CEX-led effort. Urges checking each project's technical or product moat and timing, and studying builders like Bullet, Paradex, Monaco and Lighter.Market takePerpsMarket structure

04 Oct 2025A1 Research CLOB campaign week one recap and article linksRecap of the first week of A1's CLOB campaign: AMMs to CLOBs, State of the CLOB Wars, Bullet, Paradex, landscape maps, CLOB appchains, real-time chains and Monaco, with a Monaco report and expert space announced.OtherPerpsMarket structure

30 Sep 2025Monaco: Wall Street-grade CLOB infra on Sei, TL;DRMonaco is a permissionless backend with 5-25 microsecond off-chain matching and sub-400ms settlement on Sei. It has no native frontend, offers shared liquidity from day one, and reinvents PFOF with PitPass.BreakdownPerpsL1/L2Market structure

28 Sep 2025Ten CLOB DEX plays to research beyond HyperliquidWatchlist of ten onchain CLOB venues worth researching besides Hyperliquid: Bullet, Paradex, Monaco, Lighter, Hibachi, GTE, Valhalla, Decibel, Nitro and Ambient. Explicitly excludes Aster and Apex as CEX-linked.MapPerpsHyperliquid

25 Sep 2025Hyperliquid over Aster, plus the CLOB challengers worth studyingArgues Aster lacks tech, UX and real users and is a paid-KOL trade, and that CEXes and VCs are fudding HYPE to rotate back cheaply. Lists credible CLOB challengers including Bullet, Paradex, Monaco and Lighter.Market takeHyperliquidPerps

21 Aug 2025Monaco on Sei: Wall Street grade onchain CLOB infrastructureArgues onchain CLOB infrastructure inside a composable execution layer, not an appchain, can reach microsecond latency. Cites the Giga Sei upgrade scaling to 5 gigagas per second, roughly 200k TPS.Market takePerpsL1/L2

21 Jul 2025Research agenda July 2025: MegaETH, CLOBs, proving markets, DeAI, privacyA list of themes under active research: MegaETH, CLOB infra, proving markets, ZK infrastructure, ML networks, AI agents and robotics, stablecoins, RWAs, programmable privacy, BTCfi and Hyperliquid.OtherZKAIHyperliquid

21 Jul 202520 pre-TGE projects without Kaito leaderboards: ZK, privacy, AI and CLOB infraA watchlist of 20 pre-TGE projects without a Kaito leaderboard, grouped implicitly across Bitcoin ZK rollups, proof verification, AI infra, CLOBs, privacy (MPC, FHE), stablecoin infra and oracles.MapZKPrivacyAI

06 Jul 2025CLOB wars: why onchain orderbooks are replacing AMMs and who builds themAMMs were a forced tradeoff until real-time chains, scalable DA, ZK proving and fast oracles made orderbooks viable. Maps CLOB appchains (Hyperliquid, Bullet, Lighter, Paradex, Hibachi) and onchain CLOBs (GTE, Nitro, Monaco, Fuel, Aptos).MapPerpsDeFiHyperliquid

14 Jun 2025CLOB War Line-Up: eight onchain orderbook contendersFirst version of the CLOB wars list: Hyperliquid's HyperCore plus Valhalla and GTE on MegaETH, Bullet on Solana, Fuel, Nitro on RISE, Monaco on Sei and Hibachi on Celestia. Later expanded into the 2.0 line-up.MapPerpsDeFi

12 Jun 2025Giga Sei as the first EVM chain able to host high-performance CLOBsArgues Giga Sei's multi-proposer consensus and parallel execution make Sei the first EVM chain capable of hosting high-performance CLOB infrastructure, citing Monaco as an example.ThesisL1/L2Perps

Often covered with

Bullet33 Sei34 Hyperliquid113 Lighter21 Paradex26 A1 Research39 Hibachi8 GTE7

Working together

Research, advisory and builds for deep-tech teams.

View CV A1 Research