Investors were allocated about 19.7 billion MON, nearly 20% of the original supply. Those tokens were locked when Monad’s public network launched last November and begin unlocking after a one-year wait, followed by monthly releases over the remainder of a four-year schedule.
That makes November the first point at which early investors begin receiving tokens they can sell normally.
MON traded around $0.021 on Tuesday, about 16% below the $0.025 price of last year’s public sale. Roughly 11.8 billion MON are currently circulating, giving the token a market value near $250 million against a fully diluted value of about $2.1 billion.
As such, the token price has struggled while activity on the network has grown.
The amount of money deposited in Monad-based decentralized finance apps has climbed to about $895 million from roughly $360 million on July 2, according to DeFiLlama, an increase of almost 150% in about six weeks. Stablecoins on…
