Monad Reveals Mainnet and Token Launch Date After Airdrop Claim

Layer 1 blockchain Monad will launch its mainnet and MON token on November 24, the network’s foundation announced on Wednesday, with the token airdrop for early users expected to take place alongside the rollout.

The Solana and Ethereum competitor has raised more than $240 million to bring its highly scalable network to fruition. highlighted by a $225 million increase led last year by crypto venture fund Paradigm.

Founded in 2022, the Ethereum Virtual Machine compatible network launched its testnet earlier this year to give users a taste of what to expect when the mainnet launches.

Like other competing networks, it aims to fill the scalability gaps of the Ethereum mainnet, offering high speeds and low fees like Solana, but with Ethereum compatibility. According to to his websiteThe Monad mainnet is expected to offer 10,000 transactions per second (TPS) with near-zero gas costs and finality of 800 milliseconds.

Last month, Monad was the first to start indicating that it was close to launching its mainnet teasing users with details of the highly anticipated MON token airdrop earlier ultimately giving them insight into their respective token allocations as October drew to a close.

MON tokens were allocated to nearly 225,000 active crypto users, identified after a strong anti-sybil sweep, which shuts down users or bots performing low-value activities in an attempt to farm the airdrop.

Some users eligible for the claim, which was open until November 3, included users of on-chain DeFi protocols, high-quality DEX traders, and long-term holders of notable NFTs like CryptoPunks And Pudgy penguins.

While specific tokenomic details have not yet been released, unofficial pre-market trading of the token is taking place on popular offenders DEX Hyperliquid, where MON is currently changing hands around $0.06 – up around 48% in the last 24 hours on a trading volume of over $14 million as the crypto markets have recovered.

Official trading of the token will begin at mainnet launch, with centralized crypto exchange Kraken already announcing that the token will be available on its platform on day one.