Monad Reveals Mainnet and Token Launch Date Following Airdrop Claim

Layer-1 blockchain Monad It 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.

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

Founded in 2022, the Ethereum Virtual Machine-compatible Network launched its testnet earlier this year to give users a taste of what to expect on the mainnet launch.

Like other competing networks, it aims to fill the scalability gaps that ethereum mainnet has, which offers high speed and low fees like Solanabut with Ethereum compatibility. Second at their websiteMonad’s mainnet is expected to offer 10,000 transactions per second (TPS) with near-zero gas fees and 800 millisecond finals.

Last month, Monad began signaling that it was close to launching the mainnet, first tease the user with details of the highly anticipated MON token airdrop first finally, it provides them with an overview of their respective token allocations as October drew to a close.

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

Some eligible users for the claim, which was open until November 3, include users of on-chain DeFi protocols, high-value DEX traders, and long-term holders of notable NFTs such as CryptoPunks and Polite penguins.

Although specific tokenomic details have not yet been released, unofficial pre-market trading of the token took place on the popular perp DEX Hyperliquid, where MON is currently changing hands around $0.06—up about 48% in the last 24 hours on more than $14 million in trading volume as crypto markets rebounded.

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