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Monad Team Launches MON Token Claim for 230,000 Users

Monad Team Launches MON Token Claim for 230,000 Users

The project also revealed the criteria for participation in the distribution.

EVM-compatible L1 platform Monad has opened a portal for claiming its native MON token. The claim will be available until November 3. 

According to the criteria, during the airdrop, the project team will distribute coins among more than 235,500 users, including: 

  • active community members who have long supported the project on social media and participated in various initiatives;
  • traders with high trading volumes on DEX platforms like Hyperliquid and venues such as Pump.fun;
  • long-term holders of popular NFTs (CryptoPunks, Pudgy Penguins, Mad Lads);
  • participants in voting on DAO platforms based on Ethereum. 
  • contributors who have aided the ecosystem’s development through development, auditing, security, or education;
  • developers already creating products on Monad and participating in the project’s hackathons. 

The Monad Foundation team and Category Labs employees will not participate in the distribution. The snapshot was taken on September 30. 

MON tokens will become available after the TGE, which will coincide with the mainnet launch. The exact date remains unknown. 

Perpetual contracts for the coin are already available on Hyperliquid. At the time of writing, the price stands at $0.07 with a daily trading volume of $5.9 million. Open interest has reached $7.7 million. 

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Hourly MON/USD chart on Hyperliquid exchange. Source: Hyperliquid

Fraudulent Advertising on Telegram

Prior to the opening of the MON claim, scammers placed fraudulent ads with a phishing link in the official Monad Announcements channel. This was reported by project co-founder Keone Hon. 

“Telegram places ads in specific public channels. Scammers have bought ads in Monad Announcements. It’s astonishing that the messenger allows promoting content that should only contain information from one party. We are already working to remove all this,” he wrote. 

Back in February, the platform’s developers launched a public test network. 

In July, the Monad Foundation acquired Portal Labs, the company behind the development of the infrastructure platform for stablecoins Portal.

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