Monad Coinbase Listing Becomes First Major ICO to Reveal All Market Maker Deals

Monad’s upcoming token sale on Coinbase has set a new transparency standard by becoming the first major initial coin offering to fully disclose all market maker agreements, including loan sizes and execution periods.

The issuer, MF Services (BVI) Ltd., published comprehensive details of its liquidity arrangements through Coinbase’s official filing.

Announcing the MON public sale: the first ever token sale on Coinbase

The sale starts on November 17th and will be accessible in over 80 countries, including the U.S. 🇺🇸

More details belowpic.twitter.com/lOs7fv11kF

— Monad (mainnet arc) (@monad) November 10, 2025

The disclosure reveals token loan agreements with five market makers: CyantArb receives 50 million MON tokens for one month, while Auros, Galaxy, and GSR each receive 30 million MON tokens for one month.

Wintermute has been allocated 20 million MON tokens for a one-year period, with short-term deals renewable monthly.

Coinwatch will track market maker wallets to monitor token usage and idle balances.

Additionally, the issuer plans to deploy up to 0.2% of the initial MON supply to seed liquidity on selected decentralized exchanges, aiming to improve early tradability and price stability.

Monad Sale Structure and Allocation Mechanics

The MON public sale opens Monday, November 17, 2025 at 9:00 a.m. EST and closes Saturday, November 22, 2025 at 9:00 p.m. EST. Up to 7.5 billion MON tokens will be available, representing 7.5% of the initial total token supply.

Key details of the sale:

– The sale is open from Nov 17th, 9am ET to Nov 22nd, 9pm ET
– The sale is for 7.5% of the total supply at a price of $0.025 per MON
– Participants can bid up to $100k

Details in this blog: https://t.co/wgPxLIhbW0 pic.twitter.com/kCkAobbjfR

— Monad (mainnet arc) (@monad) November 10, 2025

Each token is priced at $0.025, creating an implied fully diluted valuation of $2.5 billion based on 100 billion initial tokens. The sale is open to eligible jurisdictions where Coinbase operates, including the United Kingdom.

Investors can participate with a minimum bid of $100 and a maximum of $100,000, with higher thresholds available for Coinbase One subscribers. In case of oversubscription, a “filling up from the bottom” algorithm will prioritize smaller amounts first, promoting broader distribution over concentration.

Coinbase launched this new platform to enable individual investors to purchase digital tokens before exchange listing. The service will host approximately one token sale per month, with Monad serving as the inaugural project.

Token Distribution and Supply Economics

The initial supply totals 100 billion MON tokens. Ecosystem Development receives the largest allocation at approximately 38.5 billion tokens (38.5%), unlocked at mainnet launch. The Team receives 26.99 billion tokens (27.0%), locked and subject to vesting schedules.

Investors hold 19.68 billion tokens (19.7%), also locked with vesting requirements. The Public Sale accounts for 7.5 billion tokens (7.5%), unlocked at mainnet. Category Labs Treasury receives 3.95 billion tokens (4.0%), locked for future employee compensation.

The Airdrop allocation comprises 3.33 billion tokens (3.3%), unlocked at launch. On Day 1 of public mainnet launch, approximately 49.4 billion tokens (49.4%) will be unlocked and in public circulation, while 50.6% remains locked.

Team tokens face a one-year lock-up post-launch, then release over the subsequent three years. Investor tokens carry a four-year lock-up starting at mainnet launch, with a one-year cliff followed by monthly unlocks of 1/48 each month thereafter. The Category Labs Treasury follows the same four-year lock timeline.

MON tokens will be minted to reward validators and stakers, with a block reward of 25 MON per block. Annualized inflation totals approximately 2 billion MON, representing roughly 2% of initial supply per year. Meanwhile, the base fee component of each transaction will be burned, introducing deflationary pressure.

The airdrop of 3.3 billion MON tokens was earmarked for early participants, including developers and ecosystem contributors. Eligibility and recipient lists were published by the Monad Foundation. The Foundation may distribute additional tokens post-launch to incentivize ecosystem growth and discovery.