Layer-1 blockchain Monad confirmed in a post on X that its long-awaited token launch will take place next week.
The airdrop claims portal will open on October 14; However, the Monad team has not yet revealed any information regarding the airdrop assignment.
Monad has positioned itself as a high-performance Layer 1 chain that has EVM support. Its upcoming airdrop marks a step towards the launch of its native token, but without concrete details on how the tokens will be distributed, the community remains in a holding pattern, waiting for the next update.
The news comes as decentralized perpetual exchange Hyperliquid listed MON-USD hyperps on Wednesday, allowing traders to take long or short positions in the native token ahead of its public distribution.
Based on hyperliquid trading of MON-USD hyperps, priced close to $0.12, Monad’s fully diluted valuation (FDV) is close to $12 billion, and 100 billion MON tokens are expected to be distributed via airdrop.
Read More: Hyperliquid Lists MON-USD Perpetuals Ahead of Long-Awaited Monad Airdrop
