Monad Raises $269M in Public Token Sale Exceeding Initial Targets

Monad, an EVM-compatible Layer 1 blockchain built by Category Labs, successfully concluded its public token sale through Coinbase's platform. The sale ran from November 17 to November 22, 2025, and raised a total of $269 million from 85,820 participants across more than 80 countries.

The initial target was $187.5 million, but demand exceeded expectations, with the sale representing 7.5% of the total 100 billion MON token supply. At the price point of $0.025 per token, this implied a fully diluted valuation of $2.5 billion.

The token allocation design aimed to spread tokens across as many wallets as possible, using a 'filling up from the bottom' approach with minimum and maximum bid limits. This was done to democratize access and move beyond the typical playbook where venture capital and institutional backers lock up favorable allocations early on.

Monad's mainnet went live two days after the sale closed, on November 24, 2025. At launch, approximately 10.8% of the total supply was unlocked and circulating, a combination of public sale tokens and a 3.3% airdrop.