Monad Completes Public Token Sale via Coinbase Platform

Monad, an EVM-compatible Layer 1 blockchain developed by Category Labs, concluded a public sale of 7.5 billion MON tokens between November 17 and November 22, 2025. The event, which utilized Coinbase's token sales platform, attracted 85,820 participants from over 80 countries.

The sale generated $269 million, surpassing the project's original goal of $187.5 million. Joanita Titan, Head of Institutional Growth at the Monad Foundation, stated the sale was designed to democratize access and reduce the concentration of allocations typically held by venture capital and institutional investors.

The 7.5 billion tokens sold represented 7.5% of the total 100 billion supply, implying a fully diluted valuation of $2.5 billion at the $0.025 per token price. To prevent whale-heavy concentration, the platform implemented minimum and maximum bid limits.

Following the sale, the Monad mainnet launched on November 24, 2025. At that time, 10.8% of the total supply was circulating, including the public sale tokens and a 3.3% airdrop. The remaining supply is divided among team allocations, investors, treasury, Category Labs, and ecosystem development, with full unlocks scheduled for Q4 2029.

As of mid-2026, the circulating supply has increased to approximately 11.8 billion tokens. The MON token has traded between $0.023 and $0.027, remaining consistently below the $0.025 public sale price. In August 2026, the Monad Foundation proposed a repurchase of locked tokens from certain early investors with a $60 million cap, though nearly all eligible parties declined the offer.