Monad conducts public token sale to broaden investor access

Monad, the EVM-compatible Layer 1 blockchain built by Category Labs, sold 7.5 billion MON tokens at $0.025 each through what became the first project to use Coinbase’s public token sales platform. The sale ran from November 17 to November 22, 2025, pulling in roughly $269 million from 85,820 participants spread across more than 80 countries. That final figure exceeded initial targets. Monad had aimed for $187.5 million, but demand pushed the raise well past expectations, even though momentum reportedly built gradually rather than arriving in one rush. How the sale was structured The 7.5 billion tokens represented 7.5% of MON’s total 100 billion supply. At the $0.025 price point, that implied a fully diluted valuation of $2.5 billion. The allocation design was deliberately engineered to spread tokens across as many wallets as possible. Coinbase’s platform used what’s been described as a “filling up from the bottom” approach, applying minimum and maximum bid limits to prevent whale-heavy concentration. Joanita Titan, Head of Institutional Growth at the Monad Foundation, framed the sale as a deliberate effort to democratize access. The goal was to move beyond the typical playbook wher...