Layer 1 blockchain Monad has revealed plans for a public sale of its native token on Coinbase’s new token sale platform, with 7.5% of the full MON provide supplied at a $2.5 billion valuation, implying a $187 million elevate if totally subscribed.
Alongside the announcement, Monad additionally unveiled its tokenomics, which have left customers and neighborhood members fuming. Simply 3.3% of the full MON provide shall be airdropped, with one other 7.5% distributed throughout the public sale, that means solely 10.8% of the full provide shall be out there to the common retail consumer.
In the meantime, investor, crew, and treasury allocations account for greater than 50% of the full provide.
MON Tokenomics – Monad
Whereas the MON pre-market on Hyperliquid trades at a $6 billion valuation, neighborhood members are calling out Monad after the upcoming Layer 1 spent years preaching about how its neighborhood can be rewarded throughout the token era occasion (TGE), solely to disappoint.
Auri, a longstanding member of the Monad neighborhood with one of many unique “Mon” roles within the Discord, expressed frustration on X, saying, “I gotta say although this isn’t ‘neighborhood first’ tokenomics. For the primary time with Monad, I really feel the acquainted bitter style of betrayal.”
Traders are voicing considerations as properly. One consumer referred to as Monkey Rothschild, who invested on behalf of the Wassiverse NFT assortment at a $600 million valuation, took to X to unleash a slew of tweets criticizing buyers’ vesting in comparison with the general public sale’s 100% unlocks, and the tiny airdrop allocation.
Rothschild stated in a single publish, “3 years, 3%. Unsure how else to spin it, however that is simply soiled work lmfao,” alluding to the truth that many customers had been energetic within the Monad Discord for greater than 3 years to obtain solely a 3.3% airdrop allocation.
Additionally it is value noting that the airdrop distribution is just not unique to the Monad neighborhood however is shared with basic EVM customers, whether or not or not they’ve ever interacted with Monad.
Regardless of the broad pushback from neighborhood members and onlookers, some market members welcomed right this moment’s bulletins.
“Coinbase sale + full tokenomics have made me extra bullish monad tbh,” investor Cryptopathic posted right this moment. He continued within the feedback thread, insinuating that the MON token’s low circulating provide and its standing because the first-ever Coinbase token sale bode properly for its worth motion.
