Hyperliquid, the decentralized perpetual exchange, announced on Wednesday that it has listed MON-USD hyperps, allowing traders to buy or sell the token in a pre-market phase.
MON is the native token of Monad, a layer 1 blockchain designed to be fully compatible with the Ethereum Virtual Machine (EVM) – a feature that makes it easier for developers to migrate their applications from Ethereum.
Hyperliquid’s announcement and recent Monad posts suggest an airdrop could be imminent, with the project lead teasing their “drop claim loading” feature hitting 98% on October 8, according to Monad’s latest update on X.
Based on trading on the MON-USD hyperlink, priced near $0.13, Monad’s fully diluted valuation (FDV) stands at approximately $13 billion, with 100 billion MON tokens expected to be distributed via the airdrop.
The new MON marketplace has already seen strong activity, recording $28 million in trading volume over the past 24 hours on the decentralized exchange.
Read more: Ethereum L1 Monad partners with Orderly Network for DeFi Boost
