Coinbase to Debut Digital Token Offering Platform with Monad Token Sale

Investors will submit purchase requests using the USDC stablecoin over a one-week period. An algorithm will then determine token allocation to ensure broad distribution to the most loyal buyers.

"We have created a sale design that prioritizes higher allocations to true supporters first," Coinbase said in a blog post. "Users who sell their tokens immediately after listing (in less than 30 days) may receive lower allocations in subsequent sales. This is designed to prioritize access for a project's true users."

These token sales will be accessible to individual investors, including those in the United States. There will be no fees for users participating in the token sales. Token issuers will be charged a percentage fee based on the amount of USDC received through the sale.

Assets launched through the new token sale platform will also be added to the Coinbase listing roadmap. The highly anticipated Layer-1 network, Monad, will be the first network to use the new token sale platform.

Monad previously confirmed that it would launch its mainnet and MON token on November 24th, and a token airdrop is expected to coincide with the launch for early users. However, the token sale on Coinbase will take place on November 17th, a full week before the mainnet launch.

Monad reveals mainnet and token launch date after airdrop claim

The emerging blockchain has confirmed that 7.5% of the total supply will be sold at $0.025 per MON, with the maximum bid from users limited to $100,000 and the minimum bid requirement being $100. If it sells entirely at this price, Monad will raise approximately $187.5 million from the token sale, with an estimated fully diluted value of $2.5 billion.

Monad co-founder Keyon Hohn tweeted, "This public sale is likely to expand Monad's reach by increasing the distribution of MON to millions of ordinary people." He added, "Monad was built in part to connect the general public with crypto and provide them with technology ready for widespread adoption. The world is big, and crypto needs to grow far beyond the crypto Twitter bubble."