Layer-1 blockchain Monad detailed the initial distribution of its initial token, MON, as it prepares for its November 24th mainnet launch, a major milestone for the project, which is positioning itself as a high-performance, Ethereum-compatible network.
The Monad Foundation said on Monday that a public sale of 7.5% of the initial supply of the token will begin on Coinbase’s Token Sales platform on November 17. Tokens will be priced at $0.025 each. A 3.3% airdrop starts seven days later.
The sale is intended to distribute MON more widely ahead of the network’s activation, with the fund stressing that the structure of its tokenomics is designed to encourage long-term participation rather than short-term speculation.
In total, 38.5% of the initial supply will be allocated to ecosystem development, 27% to the Monad team, 19.7% to investors, 7.5% to the public sale, 4% to the treasury and 3.3% to an airdrop.
“At the launch of the Monad Public Mainnet, approximately 10.8B MON tokens (10.8%) are expected to be unlocked and in public circulation due to distribution via the Monad public sale and MON Airdrop,” the team wrote in a blog post.
The foundation framed the release as the start of a gradual decentralization process, with additional supplies coming into circulation over time as the network grows. The majority of tokens will remain locked for the first few months, with ecosystem and team allocations subject to vesting plans to align long-term incentives.
The release of MON comes as the crypto ecosystem has long awaited this airdrop, alongside Monad’s efforts to try to redefine the design of layer-1 blockchains. The team describes Monad as a “high-performance, EVM-compatible” network capable of processing transactions in parallel without sacrificing decentralization or security, which it hopes can scale Ethereum’s virtual machine to its next stage of growth.
Read more: Monad Foundation sets November 24 Airdrop date for users
