In the chain documentation you find:
Calling
chainon a wrapped object will cause all future method calls to return wrapped objects as well. When you've finished the computation, usevalueto retrieve the final value.
So does the chain function create a monad?
No, not a monad, but a comonad! It turns a function that takes a wrapped object and returns a normal value into a function that both takes and returns a wrapped object. As a Haskell type signature that would be:
(Wrapped a -> b) -> (Wrapped a -> Wrapped b)   The type signature of value is:
Wrapped a -> a   These are precisely what you need for a comonad. The first function is usually called extend and the second extract.
You can think of a comonad as a value with some extra context. And that is of course exactly what chain does.
See this Stackoverflow question for more about comonads.
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