Coinbase Launches New Token Sale Platform
Coinbase has introduced a new platform that allows investors to buy digital tokens before their official exchange listing. The platform will host about one token sale each month, starting with the blockchain project Monad.
Investors can submit requests using the stablecoin USDC during a one-week sale period. Coinbase will use an algorithm to determine which investors receive the tokens.
According to Coinbase, the sale design prioritizes true supporters with higher allocation. Users selling tokens within 30 days may get smaller allocations in future sales. All investors, including those in the U.S., can participate without fees. Token issuers will pay a fee based on the USDC raised. The platform aims to limit token concentration among large buyers and promote sustainable distribution.
Monad Token Sale Details
Monad, a layer-1 blockchain network, is the first project on Coinbase’s token sale platform. Monad’s mainnet and MON token will launch on November 24, with an airdrop for early users. The Coinbase token sale starts on November 17.
- The sale offers 7.5% of Monad’s total token supply.
- Tokens will be priced at $0.025 per MON.
- Investors must bid at least $100 and can bid up to $100,000.
- If fully sold, Monad could raise $187.5 million.
- The total MON valuation would be about $2.5 billion.
Monad co-founder Keone Hon said the sale aims to extend MON token distribution to millions of people. He added the project seeks to onboard the public to crypto and provide technology for mass adoption.
Future Plans and Integration
This new Coinbase platform follows its recent $375 million acquisition of crypto investment firm Echo. Echo’s fundraising tools will be integrated into a separate token sale ecosystem.
All tokens sold on the new platform will later list on Coinbase’s main exchange. Coinbase plans to add other assets in the future, including tokenized stocks and real-world items. The platform aims to help projects reach real users while ensuring fair and safe trading.
