KEY TAKEAWAYS
- The Monad Migration program on Wormhole’s Portal Earn offers up to 10 XP per dollar for asset transfers to Monad.
- Monad is a Layer 1 blockchain with high TPS, EVM compatibility, and low gas fees, supported by Wormhole and Axelar.
- Users can combine Monad Migration boosts with other Portal Earn multipliers to maximize XP earnings.
The Monad Migration program is now live on Wormhole’s Portal Earn, offering users increased experience points (XP) rewards for transferring assets to Monad. Starting today, users can earn up to 10 XP for every dollar transferred to Monad using the Wormhole Portal, as announced here.
What is Portal Earn?
Wormhole Portal is a widely trusted application for multichain transfers, having facilitated over $56 billion in volume for more than one million users. Portal Earn is a loyalty program that allows users to earn XP with each transfer, turning transactions into opportunities for rewards.
Understanding Monad and Its Migration Program
Monad is a Layer 1 blockchain that boasts 10,000 transactions per second (TPS) with full Ethereum Virtual Machine (EVM) compatibility, sub-second finality, and near-zero gas fees. The network launched on November 24th with native bridge infrastructure supported by Wormhole’s NTT (Native Token Transfers) standard and Axelar’s General Message Passing.
The Monad Migration program is an incentive campaign within Portal Earn, rewarding users for transferring assets to Monad’s blockchain. The program offers boosted XP for transfers across multiple assets, encouraging participation in Monad’s ecosystem from the outset.
How to Maximize XP with Monad Migration
Standard Portal Earn rates offer 2 XP per USD transferred for non-stablecoins and 1 XP per USD for stablecoins. However, the Monad Migration program provides 10 XP per USD for Wrapped Ethereum (WETH) transfers and 5 XP per USD for other token transfers, excluding stablecoin-to-stablecoin transfers.
The Monad Migration boost can be combined with other Portal Earn multipliers, such as volume bonuses, status tiers, and future staking rewards, allowing active users to significantly increase their XP earnings.
For more information on maximizing XP across all Portal Earn programs, users can refer to the Portal Earn Season 1 Playbook. To explore Monad’s applications and incentives, the Monad User Playbook is available. Interested users can visit earn.portalbridge.com to start earning XP through Monad Migration.
Why This Matters: Impact, Industry Trends & Expert Insights
The launch of the Monad Migration program on Wormhole’s Portal Earn offers users enhanced XP rewards for transferring assets, marking a strategic move to boost engagement with Monad’s blockchain ecosystem.
A recent report highlights a significant trend in Layer 1 blockchain adoption, characterized by increased developer activity and institutional interest. This development aligns with the Monad Migration program, which aims to attract users to Monad’s high-performance Layer 1 blockchain, thereby contributing to the ecosystem’s growth.
As per insights from industry experts, multichain transfer platforms are becoming essential for global finance, facilitating seamless asset transfers and interoperability. This supports the significance of Wormhole’s role in enabling the Monad Migration, as it underscores the importance of multichain capabilities in expanding blockchain ecosystems.
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