Monad Token Sale Goes Live on Coinbase Exchange

High performance L1 blockchain Monad is conducting the first-ever token sale on crypto exchange Coinbase. Registered users in over 80 countries (including the United States) can now lock USDC to purchase 7.5% of the MON token supply.

What's the Scoop?

• How It Works: Until November 22, Coinbase users can commit USDC to purchase MON directly from the Monad Foundation via Coinbase's Monad token sale page. For the Monad token sale, users are able to commit a minimum of 100 USDC and a maximum of 100,000 USDC.
• Wide Allocation: To maximize the number of individuals who receive MON tokens, Coinbase will fill the smallest order sizes first in the event of an oversubscribed sale. This mechanism is known as “filling up from the bottom," and means that large orders may have a portion of their USDC refunded.

What's the Take?

Coinbase has well and truly jumped the shark. Although Coinbase appears convinced that its token sales will not run afoul of U.S. regulators, it is the first time the exchange is conducting a direct token sale that is available to retail American users.

Primary digital asset offerings – such as the MON token sale – may qualify as securities under the legal precedent established by SEC v. Ripple Labs.