Monad, a Layer 1 blockchain, confirmed in a submit on X that its long-awaited token airdrop will happen subsequent week.
The airdrop claims portal is scheduled to open on October 14th, however Monad’s staff has not but disclosed details about airdrop allocations.
Monad positions itself as a high-performance layer 1 chain with EVM compatibility. Though the upcoming airdrop marks a step in direction of the launch of native tokens, there aren’t any concrete particulars on how the tokens will likely be distributed, so the group continues to take care of a holding sample and watch for the following replace.
The information comes as decentralized perpetual alternate HyperLiquid listed the MON-USD Hyperp early Wednesday, permitting merchants to take lengthy or brief positions within the native token forward of normal distribution.
Based mostly on the hyper-liquidity commerce of the MON-USD hyperp, buying and selling at a value round $0.12, Monad has a completely diluted valuation (FDV) of practically $12 billion, with 100 billion MON tokens scheduled to be distributed by way of airdrop.
Learn extra: Hyper Liquid lists MON-USD perpetual funds forward of long-awaited Monad airdrop
