The layer-1 Monad blockchain went live on Monday, accompanied by an airdrop of its MON token.
The Monad team described the blockchain as a “high-performance network capable of supporting a broad range of growing industry verticals, including DeFi, payments/stablecoins, and emerging institutional use cases for high frequency finance.”
Previously, the team said that the blockchain is also “EVM-compatible,” and that the chain is designed to help scale Ethereum’s virtual machine into its next stage of growth.
As for the airdrop, according to project documentation, the total supply of MON is 100 billion tokens, with 10.8% currently unlocked and in circulation. That circulating portion is divided between two buckets: 7.5% was made available over the past week through a public sale on Coinbase’s Token Platform at $0.025 per token, and the remaining 3.3% unlocks as part of the airdrop.
The remaining supply is allocated as follows: 27% to the Monad team, 19.7% to investors, 4% to the Labs Treasury, and 38.5% toward ecosystem development. Some community members on X expressed frustration with the distribution, arguing that the team’s share is unusually high compared with industry norms.
“Monad mainnet’s public launch marks a major step toward making high-performance blockchain infrastructure accessible to everyone. Developers shouldn’t have to choose between speed, security, and usability,” said Keone Hon, the co-founder of Monad, in a press release shared with CoinDesk.
“With Monad, we’ve worked to deliver all three, without asking builders to abandon the tools and languages they already know. We’re excited to empower a new wave of applications and bring blockchain technology closer to mainstream and institutional adoption.”
Read more: Monad Unveils Tokenomics Ahead of Nov. 24 MON Token Airdrop