Decentralized perpetual exchange Hyperliquid announced on Wednesday that it has listed MON-USD hyperps, allowing traders to go long or short the token in a pre-market phase.
MON is the native token of Monad, a Layer 1 blockchain designed to be fully compatible with the Ethereum Virtual Machine (EVM), a feature that makes it easier for developers to migrate their applications from Ethereum.
Both Hyperliquid’s announcement and recent posts from Monad suggest that an airdrop may be imminent, with the project official teasing that its “airdrop claim payload” function reached 98% on October 8, according to Monad’s latest update on X.
Based on trading on the MON-USD hyperp, priced close to $0.13, Monad’s fully diluted valuation (FDV) amounts to approximately $13 billion, with 100 billion MON tokens expected to be distributed via airdrop.
The new MON market has already seen strong activity, recording $28 million in trading volume in the last 24 hours on the decentralized exchange.
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