Monad developers rolled out their layer-1 blockchain on Monday, introducing high-performance infrastructure for DeFi and institutional applications. The team opened trading for the native token and distributed coins to active community members.
The network is billed as the next growth phase for the Ethereum Virtual Machine. Its architecture supports full EVM compatibility, allowing developers to migrate applications without changing tools or programming languages.
The team states their primary goal is balancing transaction speed, security, and usability to drive mass technology adoption.
How the Market Reacted to the Start of Trading
Trading kicked off at $0.025 — the price at which nearly 86,000 investors purchased coins during the public sale on Coinbase, raising $269 M. However, the price dipped immediately in the first minutes following the listing.
Lookonchain analysts spotted a whale panic-selling 5.5 M MON received via airdrop at $0.0239, realizing a loss compared to the ICO price.
Sentiment flipped later in the day, and prices began to climb. The token value rose above $0.041, showing a growth of over 60% in 24 hours. The project market capitalization reached $450 M with a fully diluted valuation (FDV) of $4.15 B.
BitMEX co-founder Arthur Hayes confirmed buying the asset and predicted the price would hit $10. He described the project as another layer-1 blockchain with low float and high valuation, noting the strength of the current bull market.
Questions Regarding Token Distribution
The allocation strategy sparked backlash from industry participants. The developer team received 27% of the total supply, a figure exceeding typical industry standards. Venture investors secured 19.7% of the coins at prices significantly lower than retail rates. The project allocated 38.5% for ecosystem development.
The total supply stands at 100 B MON. Currently, 10.8% of the supply is in free circulation, including 7.5% from the public sale and 3.3% allocated for the airdrop. The shares for the team, investors, and the Category Labs treasury (4%) remain locked for at least one year.
Crypto trader CoinMamba labeled Monad tokenomics as one of the most predatory on the market.
Read also:
- What is Tokenomics?
- Layer 1 vs. Layer 2 — Key Differences in Blockchain Scaling Solutions
- Layer 3 Blockchains — Everything You Need to Know
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