Key Highlights
- Coinbase launches a platform for early access token sales, starting with Monad.
- Investors will use USDC to buy tokens, which are allocated by an algorithm to reward loyal users.
- Monad will sell 7.5% of its tokens at $0.025 each on November 17, a week before its mainnet launch.
Coinbase crypto exchange is launching a new platform that lets investors buy digital tokens before they are officially listed on the exchange. The platform will host roughly one token sale per month, starting with the blockchain project Monad.
According to the company’s announcement, investors can submit requests using the stablecoin USDC during a one-week period. Coinbase will then use an algorithm to decide who gets the tokens.
“We created a sale design that rewards higher allocation priority to true supporters first,” Coinbase said in a blog post. Users who sell tokens within 30 days may receive smaller allocations in future sales.
Anyone can join the token sales, including people in the U.S., who can participate in the sales with no fees. Token issuers, however, will pay a percentage fee based on the USDC raised. Coinbase said the rules are designed to limit the concentration of tokens among large buyers while encouraging sustainable distribution.
Monad token details and plans
Monad, a layer-1 blockchain network, will be the first project to sell tokens through the platform. Its mainnet and MON token are scheduled to launch on November 24, with a token airdrop for early users taking place alongside the rollout. The Coinbase sale will occur a week earlier, on November 17.
The sale will include 7.5% of Monad’s total token supply at $0.025 per MON. Each investor must bid at least $100 and can bid up to $100,000. If all tokens are sold, Monad could raise $187.5 million. The total value of all MON tokens would then be about $2.5 billion.
Monad co-founder Keone Hon commented on X: “This public sale has the potential to extend the reach of Monad by extending the distribution of MON into the hands of millions of regular people.” He added that the project aims to onboard the general public to crypto and provide technology ready for mass adoption.
Meanwhile, this new token sale platform is coming just weeks after Coinbase bought the crypto investment company Echo for $375 million, which will integrate fundraising tools into a separate token sale ecosystem.
All tokens sold on this platform will later be listed on Coinbase’s main exchange. Over time, the company also plans to include other types of assets, like tokenized stocks and real-world items. Coinbase said the goal is to help projects reach real users while keeping trading fair and safe.
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