Monad Token Public Sale Launched on Coinbase, Market Response Mixed

Derived from PANews, the public token sale of Monad, a new high-performance Layer 1 blockchain, has officially begun on Coinbase's new token offering platform on November 17. The sale will last until November 22, with tokens expected to be distributed on November 24. As the first project on Coinbase's new platform, Monad is seen as a key experiment in transparent and compliant token issuance. The sale price is set at $0.025 per MON token, with a total of 7.5 billion tokens offered, raising up to $187.5 million. The sale is open to over 80 countries, including Hong Kong, and requires USDC as the only accepted payment method. Coinbase has implemented a fair allocation mechanism prioritizing small investors and limiting large allocations. However, the initial response has been relatively slow compared to previous token sales, with only 45% of tokens subscribed within the first six hours. Market prediction platform Polymarket suggests the final raise is likely to fall between $400 million and $1 billion. Meanwhile, Monad's testnet has already launched in 25 countries with 174 validators, and over 300 projects have joined its ecosystem.