A monopod is mainly about portability and mobility, not maximum stability. It’s lighter, smaller, faster to deploy, and easier to carry for hiking or long events. It’s also useful in places where tripods are restricted or banned.

Where a monopod shines:

• Sports, racing, airshows, birding, wildlife
• Following moving subjects more easily than with a tripod
• Supporting heavy camera/lens combinations so your arms don’t carry all the weight
• Situations where you want some stabilization but still need to move quickly
• Occasional creative uses like holding a flash off-camera or getting a slightly higher angle

Where a tripod is still better:

• Night photography
• Long exposures
• Precise panoramas
• HDR when you want the camera completely fixed

So for your listed uses—panoramas, night shots, and HDR—a tripod is usually the better tool. A monopod is better if your priority is lighter weight and faster movement, and your shutter speeds are fast enough that you don’t need full tripod stability. If using a monopod with larger lenses, a simple tilt head can be helpful.