Hybrid | Legend

The purpose of the MON token sale is to achieve the broadest distribution. We chose Coinbase (and their allocation algorithm, which is democratic and transparent) because of their unique ability to reach an audience that we think is important to engage and re-activate. The world is a big place and it's so important to break out of the bubble. The allocation algorithm is transparent about what it incentivizes. - There isn't a prorata component, which would have inflated total bid size but put more tokens in the hands of whales. - There isn't a time priority component, which would have incentivized early commitments but created unfair outcomes from users slamming the servers with bots to be first. - The algorithm is highly transparent, where a less-transparent algorithm or team discretion might have caused bidders to bid earlier or larger in the hopes of a larger allocation. Token sales are a major trend this year, and with many sales, there is a sense in which the sale terms are constructed to make the outcome sound as impressive as possible - "XX oversubscribed" and so on. It reminds me of years back, when I was raising from VCs and people would advise me to gather as much VC interest as possible in order to pitch to other VCs that "this round is 10x oversubscribed" to get them to FOMO in. I was never interested in doing that though. To me that always seemed a little cheesy, and like a short-term optimization. Smart people see through the gamesmanship anyway. Better to be transparent and to focus on the stakeholders who will be most beneficial to the project's growth. In the MON token sale on Coinbase, users get 5 1/2 days to decide whether to commit, and once they commit, they're locked in. (That actually incentivizes people to wait until the last minute to evaluate, which is an interesting dynamic that might be revisited for future sales.) For someone on Crypto Twitter, that optionality might be a big deal. For someone not in our bubble, maybe not so much. We'll see how this plays out, but I am grateful for the opportunity to try something different, and to expand the set of stakeholders beyond our bubble

Today, we are announcing the MON public sale - an effort to give everyday people the opportunity to become a stakeholder in the Monad network token, days before the public network launch. The public sale of MON will go live on Coinbase token sales, a new platform from Coinbase for token distribution, a week from today. This is the very first public sale that Coinbase has hosted, and it will be made available to 80+ countries, including the United States of America. 7.5% of the total monad supply will be sold at a price of $0.025/token. At the Monad Foundation, we think big. Over 285,000 accounts were made eligible for the MON airdrop, in an attempt to get people who eat, sleep, and breathe crypto to be the initial stakeholders of the Monad ecosystem. 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. This sale is attempting to fulfill crypto’s founding promise: open, fair, and inclusive finance. Monad was built in part to onboard the general public to crypto, and provide them with the tech that is ready for mass adoption. The world is a big place, and crypto needs to grow far beyond the Crypto Twitter bubble. Onwards! ⚔️