Coinbase debuts digital token offering platform with Monad token sale

Leading centralized cryptocurrency exchange Coinbase plans to launch a new platform for digital token offerings. The site plans to hold token sales once a month, with the startup blockchain Monad set to be the first one starting next week.

Investors must submit purchase requests using USDC stable coin For a week. Coinbase said an algorithm will then determine the allocation of the tokens, with the goal of widely distributing them to the most loyal buyers. wall street journal.

“We created a sales design that gives true supporters high allocation priority first,” Coinbase said. blog post. “Users who sell their tokens soon after listing (less than 30 days) may receive a smaller allocation in subsequent sales. This is designed to prioritize access to real users of the project.”

These token sales will be available to retail investors, including US investors. Additionally, there will be no fees for users participating in the token sale. Token issuers will be charged a percentage fee based on the amount of USDC received through the sale.

Assets launched through the new token sales platform will also be added to Coinbase’s listing roadmap. monadis a highly anticipated Layer 1 network that will be among the first to use its new token sale platform.

Monad is previously confirmed The company announced that it will launch its mainnet and MON tokens on November 24th, and that an airdrop of the tokens for early users will occur at the same time as the launch. However, the token sale on Coinbase will be held on November 17th, a week before it hits mainnet.

Emerging blockchain is Confirmed 7.5% of the total supply will be sold at $0.025 per MON, with users limited to a maximum bid of $100,000 and a minimum bid of $100. If fully sold out at this price, Monad would raise approximately $187.5 million from the token sale, with a fully diluted value of $2.5 billion.

“This public sale has the potential to expand the reach of Monad by extending the distribution of MON into the hands of millions of ordinary people,” said Keone Hon, co-founder of Monad. tweeted. “Monado was built with the purpose of familiarizing the general public with cryptocurrencies and delivering technology that is ready for mass adoption. The world is big and cryptocurrencies need to grow far beyond the crypto Twitter bubble. Let’s move forward!”