rewrite this title Coinbase to Debut Digital Token Offering Platform with Monad Token Sale – Decrypt

Major centralized crypto exchange Coinbase is set to launch a new platform for digital token offerings. It plans to conduct one token sale a month on the site, with emerging blockchain Monad set to be the first, commencing next week.

Investors will be required to submit purchase requests using the USDC stablecoin over a one-week period. Then an algorithm will determine the token allocation with the aim of achieving broad distribution to the most loyal buyers, Coinbase told The Wall Street Journal.

“We created a sale design that rewards higher allocation priority to true supporters first,” Coinbase said in a blog post. “Users that sell their tokens shortly after they get listed (less than 30 days) may receive smaller allocations in subsequent sales. This is designed to prioritize access to a project’s real users.”

These token sales will be accessible to individual investors, including those from the U.S.. There will also be no fees for users participating in the token sales. The token issuer will be charged a percentage fee based on the amount of USDC received via the sale.

Assets launched via the new token sale platform will also be added to the Coinbase listings roadmap. Monad, a highly anticipated layer-1 network, is set to be the first to use the new token sale platform.

Monad has previously confirmed that it would launch its mainnet and MON token on November 24, with a token airdrop for early users expected to take place alongside the launch. However, the token sale on Coinbase will take place on November 17, a full week prior to hitting mainnet.

The emerging blockchain has confirmed that 7.5% of the total supply will be sold at $0.025 per MON, with users limited to a maximum bid of $100,000 and required to bid a minimum of $100. If it fully sells out at this price, Monad will raise approximately $187.5 million from the token sale with an assumed fully diluted value of $2.5 billion.

“This public sale has the potential to extend the reach of Monad by extending the distribution of MON into the hands of millions of regular people,” Monad co-founder Keone Hon tweeted. “Monad was built in part to onboard the general public to crypto, and provide them with the tech that is ready for mass adoption. The world is a big place, and crypto needs to grow far beyond the Crypto Twitter bubble. Onwards!”