On November 17, Monad will begin selling its MON token on Coinbase’s new launch platform. What are the key details to keep in mind for this offering?
Monad Prepares to Sell Its MON Token on Coinbase
Having been in the starting blocks for several months, Monad will launch its mainnet at the end of the month, which will also mark the launch of its MON token.
This news serves as a two-fold announcement, since on November 17, the MON sale will inaugurate Coinbase’s token launch platform.
As shown in the infographic below, the sale will take the form of an auction, with a starting price of $0.025 per token. Purchase orders will range from $100 to $100,000, with a higher upper limit for Coinbase One users. A total of 7.5 billion tokens will be offered for sale, representing 7.5% of the total supply:
Overview of the MON public sale
On November 22, the conclusion of this sale will also mark the launch of the Monad mainnet. As a reminder, Monad is a Layer 1 Proof of Stake (PoS) blockchain compatible with the Ethereum Virtual Machine (EVM), which has been in development since 2022.
As part of this event, the Monad Foundation teams are highlighting the decentralization of their token:
Decentralization is only possible with broad distribution of MON token ownership. A healthy ecosystem includes not only developers and users, but also token holders.
However, we might question the definition of “decentralization” when we look at the project’s tokenomics:
Monad Tokenomics
In practical terms, the team and investors are allocated nearly 51% of the total supply.
Between the airdrop and the public sale, less than 11% is guaranteed to the community, while the distribution of the 38.5% dedicated to ecosystem development remains uncertain. In fact, this allocation is redistributed to projects building on the network, and while a portion goes to the community through incentives, another portion is also used to compensate developers.
Added to this is the fact that the Layer 1 sector is already highly competitive, with Ethereum alone already accounting for more than 67% of the total value locked (TVL) in decentralized finance (DeFi). Thus, Monad will have to prove itself to carve out a lasting place within the ecosystem.
