Monad, the layer 1 blockchain, confirmed in an article on X that its long-awaited token airdrop will take place next week.
The claims portal for airdrops will open on October 14, however, the Monad team has not yet released information on airdrop allocation.
Monad has positioned itself as a high-performance EVM-enabled Layer 1 chain. Its upcoming airdrop marks a step towards the launch of its native token, but without concrete details on how the tokens will be distributed, the community remains on hold, waiting for the next update.
The news comes as decentralized perpetual exchange Hyperliquid listed MON-USD hyperps earlier on Wednesday, allowing traders to take long or short positions in the native token ahead of its public distribution.
Based on the hyperliquid trading of MON-USD hyperps, priced at nearly $0.12, Monad’s fully diluted valuation (FDV) is close to $12 billion, with 100 billion MON tokens expected to be distributed via the airdrop.
Read more: Hyperliquid Lists MON-USD Perpetuals Ahead of Highly Anticipated Airdrop Monad
