Coinbase Debuts MON Sale as Monad Finalizes Major Airdrop

Coinbase has officially launched its first retail-accessible token sale with MON, alongside a major airdrop distributing over three percent of the supply to more than 230,000 eligible users.

The coordinated sale-and-airdrop strategy marks one of the most significant U.S. retail token offerings since 2018 and sets the foundation for Monad’s November 24 mainnet launch.

Strong Retail Demand Fuels MON Sale on Coinbase

The MON sale marks the debut of Coinbase’s revamped token sale platform. Retail traders joined the sale by submitting USDC through a capped allocation system, which limits large orders and helps smaller participants secure a fair share.

Interest exceeded expectations despite a fragile market environment. Applications came from over eighty-five thousand verified buyers, pushing total committed capital far above the available supply.

At the fixed price of 0.025 USDC per MON, the sale valued Monad at a fully diluted market capitalization of nearly one billion dollars. While the valuation sparked debate among analysts, demand for early exposure to a high-performance EVM-compatible layer 1 proved strong.

The launch also arrives at a time when many U.S.-based traders have had limited access to primary token offerings, giving MON outsized visibility.

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Even with the strong participation, risks remain. Nearly half of MON’s total supply is scheduled to unlock around the launch window, including the tokens allocated to sale participants, the airdrop recipients, and early ecosystem programs. This concentration of supply can heighten short-term volatility once MON begins trading.

Monad Confirms Airdrop for 200,000+ Users

To complement the sale, Monad is distributing more than three percent of MON’s supply to early users and contributors. The airdrop is based on a snapshot dated 30 September 2025 and includes five eligibility tracks designed to reward activity rather than low-value farming. According to Monad’s announcement, more than 200,000 addresses qualify. Claiming opened earlier this month and closes shortly before the mainnet launch on 24 November.

With its broad recipient base, the airdrop enhances MON’s initial decentralization and gives a meaningful share of supply to users who interacted with the ecosystem before launch. This approach aligns with Monad’s stated goal of distributing ownership to builders and early adopters rather than concentrating tokens among sale participants alone.

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Airdrop Breakdown

The combined scale of the sale and airdrop makes MON one of the largest retail-facing token launches of 2025. However, analysts caution that the substantial supply unlock at launch could create turbulent price discovery. In addition, MON’s long-term value will depend on MON’s ability to meet its performance claims and attract a durable developer base.

Still, the launch offers a useful case study for how U.S.-regulated platforms may handle primary distribution for new layer 1 networks. Coinbase’s structured sale, paired with Monad’s transparent token allocations, introduces a clearer template for how retail participation and ecosystem incentives can be combined within a compliance-focused environment.