Monad Launches Coinbase Token Sale Amid Tokenomics Backlash

Key Highlights

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  Coinbase launches its first token sale with Monad’s MON.
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  7.5% of supply offered at $0.025, demand tops $78M.
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  Community questions MON’s supply expansion and fairness.

Monad, the Ethereum-compatible Layer 1 (L1) blockchain, is entering the final stretch before its November 24 mainnet launch, kicking off the first token sale ever hosted on Coinbase. It marks a milestone for both the project and the U.S. exchange.

The rollout comes amid excitement and concern, as questions around MON’s supply, distribution, and validator rewards continue to spark debate.

Coinbase Hosts Its First Token Sale

Monad’s MON token sale went live on Coinbase today, marking the exchange’s first attempt at a public token sale. The offering spans 5.5 days and is available in more than 80 jurisdictions, including the United States, something not seen since early U.S. ICO-era restrictions began over seven years ago.

Buyers can request MON using USDC at a fixed price of $0.025, with 7.5% of the total supply available (187.5M USDC cap). Coinbase’s small-buyers-first algorithm aims to widen participation, with unused USDC refunded. Contributions range from 100 to 100,000 USDC per user.

With over $78 million already requested within hours, demand is strong. But the sale sits inside a larger conversation about what Monad is building, and how it’s structuring its economy.

Why Monad is Attracting Attention

Monad presents itself as a high-performance Layer 1 aimed at speed-critical use cases like trading systems and consumer apps. Its approach centers on EVM compatibility, global reach, and a parallelized execution model using tools such as MonadDB and Optimistic Parallel Execution.

The team says it prioritizes decentralization alongside throughput and has spent the past two years running accelerators and developer programs to grow its ecosystem ahead of mainnet.

The Tokenomics Controversy

Earlier this week, Monad confirmed that validator rewards will increase the total supply from 100B to 108.2B, while ecosystem allocations will cover ongoing infrastructure and operational costs. Critics say these additions may conflict with Monad’s branding around “fair, decentralized access.”

The sale itself offers only 7.5% of supply to the public, raising further concerns that early insiders and ecosystem funds may hold outsized influence as the chain matures.

A Pivotal Moment Before Mainnet

Monad’s mainnet is set for November 24. Today’s token sale is the last major step before launch and also marks Coinbase’s debut in hosting token sales, opening a new path for U.S. retail to access early-stage crypto assets.

Rising demand and growing scrutiny mean the next week will define MON’s market debut, either as a fast Ethereum-compatible contender or a project that must confront distribution concerns to earn trust.

For now, attention is centered on the final allocation results and the coming mainnet rollout.