Layer 1 blockchain Monad detailed the initial distribution of its native token, MON, as it prepares for the mainnet introduction on November 24, a key milestone for the project that is positioning itself as a high-performance Ethereum-compatible network.
The Monad Foundation said on Monday that a public sale of 7.5% of the initial supply of the token will begin on November 17 on Coinbase’s Token Sales platform. The tokens will be priced at $0.025 each. Seven days later a 3.3% airdrop will begin.
The sale aims to distribute MON more widely ahead of network activation, and the foundation emphasizes that the structure of its tokenomics is designed to encourage long-term participation rather than short-term speculation.
In total, 38.5% of the initial supply will go to ecosystem development, 27% to the Monad team, 19.7% to investors, 7.5% to public sale, 4% to treasury and 3.3% to an airdrop.
“At the launch of the Monad Public Mainnet, approximately 10.8 billion MON tokens (10.8%) are expected to be unlocked and in public circulation, due to distribution through the Monad public sale and MON Airdrop,” the team wrote in a blog post.
The foundation framed the launch as the start of a gradual decentralization process, with additional supply coming into circulation over time as the network grows. Most tokens will remain locked in the first few months, and ecosystem and team allocations will be subject to vesting schedules to align long-term incentives.
The launch of MON comes as the crypto ecosystem has long awaited this airdrop, along with Monad’s effort to try to redefine the design of Layer 1 blockchains. The team describes Monad as a “high-performance, EVM-compatible” network capable of processing transactions in parallel without sacrificing decentralization or security, which it hopes can take the Ethereum virtual machine to its next stage of growth.
Read more: Monad Foundation sets airdrop date for users on November 24
