HyperLiquid, a decentralized perpetual exchange, announced on Wednesday that it has listed the MON-USD Hyperp, which allows traders to go long or short the token in the pre-market stage.
MON is the native token of Monad, a layer 1 blockchain designed to be fully compatible with the Ethereum Virtual Machine (EVM), a feature that allows developers to easily migrate applications from Ethereum.
Hyperliquid’s announcement and Monad’s recent post both hint that an airdrop may be imminent, and in Monad’s latest update on X, project officials tease that the “load airdrop claims” feature will reach 98% on October 8th.
Based on the MON-USD hyperply trading at a price around $0.13, Monad has a fully diluted valuation (FDV) of approximately $13 billion, with 100 billion MON tokens scheduled to be distributed via airdrop.
The new MON market is already seeing high activity, with a trading volume of $28 million in the last 24 hours on the decentralized exchange.
Read more: Ethereum L1 Monad partners with Orderly Network for DeFi boost
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