update 4 September 2021

Monolith – The Start of the Decentralized Finance (DeFi) Revolution

Monolith is a complete DeFi ecosystem that seeks to correct some of the most pressing issues facing the current banking system. This unique platform provides users with a host of functionalities not found anywhere else in the market. Consequently, Monolith continues to experience growing adoption.

Monolith allows users to swap, spend, earn interest via an easy to navigate interface.  Notably, users can enjoy these services anywhere, globally. It would help if you had an internet connection and a smartphone. In this way, it connects users to the DeFi ecosystem without requiring token ownership.

What Problems Does Monolith Solve?

The current structure of the global banking system centralizes all the profits amongst a top few. Even the fee structure of the system places unnecessary burdens on the user, such as overdraft fees. Monolith strips the market of these penalties and focuses on providing users with real value. This strategy shifts the paradigm over to a more user-centric approach rather than an aggressive penalty-based system.

How Does Monolith Work?

The Monolith ecosystem covers a broad range of DeFi activities. The platform leverages blockchain technology to provide cryptocurrency investors access to some truly remarkable functionality. Here are just some of the reasons why this platform deserves success.

Full Feature Wallet with Debit Card

Users of the Monolith ecosystem enjoy access to a robust wallet that includes an informative interface. Here you can monitor all of your crypto activities. This wallet links directly to a crypto debit card. This card allows you to spend your favorite cryptocurrencies, just like fiat money. The card combines the functions of VISA with the freedom of Ethereum.

Notably, Monolith is the first Visa debit card connected to a non-custodial wallet. Additionally, the platform allows you to spend a huge variety of cryptocurrencies such as ETH, DAI, SAI, MKR, TKN, and more. When you want to use your Monolith Crypto VISA, you need to Top-up your account. Once your account is loaded, the network automatically processes the charge.

This all happens the second you swipe the card. The merchant receives fiat currency. The entire process is seamless and allows you to spend your crypto at any of VISA’s 24 million retailers worldwide.

DEX Aggregator

Monolith users also enjoy access to a DEX aggregator. ParaSwap allows you to swap your coins using any of your favorite decentralized exchanges. Currently, the system integrates UniSwap, Kyber, 0x, Mesh, Bancor, and EtherDelta. Developers seek to expand these options as more DEXs enter the market.

The entire exchange process takes seconds, and your trades arrive directly into your wallet. Best of all, there are never any exchange rate markups. Monolith allows you to utilize this feature for free.

Interest Payments

Another impressive feature of the Monolith network is the ability to earn interest on your holdings. Interest earning accounts are a feature usually regulated to the traditional financial sector. As such, Monolith continues to blur the lines between DeFi and CeFi to provide users with more functionality.

Monolith Benefits

Monolith’s all-inclusive approach to the market gives the platform unlimited potential. As more DeFi platforms enter the sector, it’s vital to understand what makes Monolith stand out against the competition. Here are some of the top features that make Monolith a pioneer in the sector.


Monolith’s developers put security first. The entire platform features an open-source code. This code is triple-audited to ensure the platform retains the highest level of security across all protocols. Open-source protocols are ideal because they allow the entire community to verify the coding is sound.

Additionally, Monolith introduces advanced personal protection. For example, you can set daily spending limits to protect your account from unauthorized withdrawals and thefts. You can also secure your holdings using Biometric authentication to keep your assets safe.

Critically, you own your private keys when you use Monolith. These keys reside on a secure storage protocol on your smart device. This strategy ensures that you are the only one with access to your digital assets.


Another huge advantage of the Monolith system is interoperability. In the coming update, users will gain access to the Monolith ecosystem directly from an ERC-20 compliant wallet. This update enables users to mobilize assets they store in their Monolith wallets in any DeFi services directly. This strategy enables advanced features such as borrowing against your crypto. In this way, it provides a valuable service to the entire DeFi sector.

How to Use Monolith

monolith wallet guide
Image courtesy of the Monolith team.

Using Monolith is easy. The first step is to fill out the platform’s registration process. This process takes less than ten minutes. Once you confirm your account via an email, you will receive a card in the mail in the next couple of days.

Initially, you can bring funds onto the platform using their ‘Add Money’ feature, which allows you to buy DAI directly in their platform to appear in your wallet to be swapped or spent.  Once funds are in your wallet, you have the ability to swap (and potentially earn interest by swapping into aDAI). From there, you’ll be able to top up your card directly in the app and spend anywhere that accepts VISA. Interestingly, if you swap aDAI to earn interest, you should be able to top up your card directly using this token (with Monolith benign the only non-CeFi source to allow this to happen)

Monolith Community

Monolith incorporates some unique community benefits that are sure to interest investors. For example, 1% of every Card top-up goes back to the community. These funds combine with other contributions in a smart contract known as the community chest. TKN token holders can redeem their share of the community chest at any time. Here is the formula to calculate your earnings:

Pro-Rata Percentage = Amount of TKN Owned / Total Supply of TKN 

TKN Tokens

The TKN token is the utility token that services the Monolith ecosystem. This ERC-20 token allows users to interact with each other,  launch smart contracts, pay fees, and receive benefits within the network. Also, users can use their TKN token to load their debit cards without any fees.

Monolith plans to issue 39,406,760 TKN in total. There are currently 32,694,387 TKN in circulation. The majority of TKN token trading volume occurs on the Uniswap, Bancor, and 1inch exchanges. 

How to Get TKN  Tokens

Getting your hands on TKN tokens is as easy as funding your account. You gain access to this powerful financial tool the moment you enter Monolith’s system. You can trade any of your favorite tokens for this coin directly from your wallet.

Monolith – Coming Soon

The team has some exciting updates planned for the coming months. Developers plan to introduce meta transactions. These transactions allow Dapp developers to pay their gas fees with any token supported in the Monolith network.


Another interesting update to come soon via the WalletConnect upgrade is the decentralized lending feature. This protocol allows users to borrow against their assets. Notably, decentralized lending continues to be one of the fastest-growing sectors in the blockchain market. Monolith partnered with the popular blockchain lending platform MakerDAO to make this feature available.

Monolith – What More Could You Want?

price change

Monolith raises the bar in terms of inclusivity and functionality. It’s easy to see all the research and development that went into this monumental project. This platform puts the investor first, from the debit card to earning interest on your crypto. You can expect to hear a lot more from this development team in the coming weeks.

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