TL;DR:
- Monad sale on Coinbase raises $130M, achieving nearly 70% of its $188M target.
- Coinbase’s allocation favors small investors and punishes speculative flipping.
- With an FDV of $2.5B, analysts question the high valuation but see potential if distribution remains broad.
Coinbase’s public sale of the Monad (MON) token has raised more than $130 million, reaching approximately 69.6% of its $188 million target. The offering, priced at $0.025 per MON and representing 7.5% of the total token supply, has attracted substantial interest in its first days, though the pace of contributions varies. The sale is scheduled to conclude on November 23 at 10:00 AM, giving investors a few remaining days to participate. Early participants have praised the accessibility of the platform, emphasizing its user-friendly interface and clear allocation rules.
Broad Distribution Under a New Token‑Sale Model
Coinbase is using its new token‑sale platform to prioritize fair access, employing an algorithm that favors smaller bids and long-term supporters. In particular, users who sell their tokens within 30 days of listing may receive reduced allocation in future sales, a mechanism designed to discourage flippers and reward genuine participants. This approach has been praised for reducing speculative activity and ensuring a broader distribution among individual investors rather than concentrating tokens in the hands of a few large buyers.
Despite the strong headline total, the funding curve shows signs of moderation, with $22.9 million added in the past 24 hours. Monad co‑founder Keone Hon defended this dynamic as intentional, stating that the goal was broad distribution, not just immediate subscription, and that unsold tokens will be redirected into ecosystem development. Observers note that this gradual accumulation strategy helps maintain stability and prevents early volatility that can discourage retail investors.
The tokenomics structure underscores ambitious valuation assumptions, with a fully diluted valuation (FDV) of $2.5 billion. The project allocates funds to both ecosystem growth and community rewards, balancing development with incentives for long-term holders. Some analysts warn that high FDV projects such as this face real pressures around sustainability and market demand, emphasizing the importance of continued adoption post-sale.
As Coinbase rolls out monthly token sales, Monad stands as its first flagship launch, signaling the exchange’s commitment to more transparent and community-focused distribution. For Monad, the next milestone is its mainnet launch on November 24, alongside an airdrop for early users. These steps aim to strengthen community engagement while providing early participants with tangible value and active participation in the project’s growth.
