MON token airdrop eligibility checking began Tuesday as Monad Foundation launched its claims portal ahead of mainnet deployment. The layer‑1 blockchain project allocated tokens to over 230,000 crypto community members across five distribution categories with a three‑week verification window.
Co‑founder Keone Hon emphasized users should take their time connecting wallets and verifying eligibility through Nov. 3. The portal uses Privy for authentication, allowing participants to sign messages with EVM or Solana wallets. There is no advantage to claiming quickly, Hon stated on X.
The airdrop targets 5,500 core Monad community members and 225,000 broader crypto participants. Distribution spans categories including Monad Community, On‑chain Users, Crypto Community, Crypto Contributors and Monad Builders. Users qualifying across multiple tracks can stack allocations for larger rewards.
Eligibility criteria combine on‑chain activity data like DEX volume and NFT ownership with off‑chain verification through Twitter, Discord and Telegram. Major DeFi protocol users, including Aave, Morpho, Pendle, Curve, Uniswap, PancakeSwap and Hyperliquid, qualify. DAO governance participants and holders of CryptoPunks, Pudgy Penguins and other collections are also included.
Privy experienced a partial outage on Tuesday morning as traffic surged following the portal launch. Service was restored by 1:57 p.m. UTC with the wallet maintaining 99.97% uptime over 90 days. The authentication provider handles over 75 million accounts and was acquired by Stripe in June.
MON tokens will not be transferable until the Token Generation Event coinciding with mainnet launch. The announcement is expected after the claim window closes on Nov. 3. An optional early reveal event is scheduled for Oct. 28, where participants can view their allocation amounts.
Hyperliquid’s MON‑USD hyperps traded around $0.07 in pre‑market futures, implying a fully diluted valuation near $6.9 billion based on 100 billion total token supply. The EVM‑compatible layer‑1 claims to offer up to 10,000 transactions per second with one‑second block times through pipelined architecture.
Monad Labs raised $225 million in 2024 funding led by Paradigm. The project launched its testnet earlier this year and expects mainnet by end of 2025. At launch, the network will integrate with Uniswap, Magic Eden and OpenSea, and support Phantom, MetaMask and Rabby wallets for immediate ecosystem access.