Monad, a high-performance EVM-compatible Layer 1 blockchain, launched its public token sale for the native $MON token on Coinbase’s new token sales platform on November 17, 2025.
The sale aims to distribute up to 7.5 billion MON tokens 7.5% of the initial 100 billion total supply at a fixed price of $0.025 per token, targeting broad retail participation ahead of the Monad mainnet launch on November 24, 2025.
Commitments are made in USDC, with minimums of $100 and maximums of $100,000 potentially higher for Coinbase One subscribers. Tokens unlock fully at TGE (Token Generation Event) on mainnet launch. The platform, built post-Coinbase’s $375 million acquisition of Echo, prioritizes “filling from the bottom” for oversubscription—allocating to smaller commitments first—to promote fair distribution.
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The sale runs until November 22, 2025, 9:00 PM ET, and is accessible in over 80 countries, including the U.S., but excludes regions like Europe due to regulatory restrictions. The sale started strong, raising about $43 million in the first 30 minutes and reaching 45% subscription ~$90 million committed within hours.
However, momentum faded quickly, with commitments stalling at around 48% by November 18. As of the latest reports, only about $90 million has been pledged against a potential $187.5 million target, heightening fears of undersubscription.
This contrasts sharply with recent sales like MegaETH’s, which was massively oversubscribed $1.39 billion committed vs. $50 million target. Speculated factors include: Short commitment window and lock-in: Participants have 5.5 days to decide, with no ability to cancel or adjust once committed.
Geographic exclusions: Unavailability in Europe limits the buyer pool. Critics point to Monad’s prior $225 million private raises valuing it at ~$3 billion FDV and vesting schedules as deterring some investors, despite the public sale’s low entry price.
Broader crypto sentiment, with Bitcoin hovering around $90K, may be shifting focus elsewhere. If undersubscribed, unsold tokens will be reallocated to Monad’s Ecosystem Development category for grants, partnerships, and marketing—part of an adaptive strategy outlined in their tokenomics to avoid waste.
On November 18, Monad co-founder Keone Hon addressed the slowdown on X, emphasizing the sale’s core goal: ” The purpose of the MON token sale is to achieve the broadest distribution.”
He defended the Coinbase choice for its “democratic and transparent” algorithm and ability to “reach an audience that we think is important to engage and re-activate.” Hon also clarified the mechanics: “Users get 5 1/2 days to decide whether to commit, and once they commit, they’re locked in,” framing it as intentional for commitment seriousness.
This messaging aims to reassure the community, positioning the slowdown not as a failure but as a feature of prioritizing decentralization over hype-driven oversubscription. Community reactions on X are mixed—some see it as a “speed bump” in an unpredictable market, while others worry about signaling weakness.
At $0.025, the public sale implies a $2.5 billion FDV, with ~10.8% of supply public sale + airdrop circulating at launch. Pre-market trading on platforms like Hyperliquid shows $MON at ~$0.05–$0.06, suggesting 2x potential upside, but high initial circulation 49.4% unlocked, though much earmarked for ecosystem could pressure prices post-launch.
Success here could validate Coinbase’s platform for future sales (e.g., potential $BASE or $FAR), rewarding long-term holders with better allocations. Risks remain execution delays, security, and competition from Solana-like chains.
As of November 20, the sale has ~2 days left—watch for a late surge or further Monad updates.
Filecoin Foundation and FilOz Launch Filecoin Onchain Cloud
The Filecoin Foundation—dedicated to advancing decentralized storage and open-source governance—and FilOz, its research and development arm focused on protocol engineering and network upgrades, announced the launch of Filecoin Onchain Cloud.
This new decentralized cloud platform aims to empower developers to build more resilient, verifiable, and customizable onchain applications, addressing the vulnerabilities exposed by recent outages in centralized cloud providers that have disrupted Web3 services like dApps, explorers, and wallets.
Tackling the “Decentralization Paradox”
The Web3 ecosystem often relies on centralized infrastructure via AWS or Google Cloud for hosting and data management, creating a single point of failure despite the decentralized ethos of blockchain.
Filecoin Onchain Cloud flips this by providing a fully onchain, programmable layer for storage, retrieval, and payments—ensuring everything is auditable, transparent, and resistant to censorship or downtime.
As Marta Belcher, President and Chair of the Filecoin Foundation, stated: “Launching Filecoin Onchain Cloud is a huge milestone for the Filecoin network… FOC unlocks critical capabilities that will accelerate the Filecoin network’s mission to build a more open, resilient, and verifiable internet.”
Molly Mackinlay, CEO of FilOz and a key contributor to IPFS (InterPlanetary File System), added: “Filecoin Onchain Cloud brings onchain guarantees like verifiability, programmability, and openness to cloud-scale infra services. Builders deserve a cloud built on proofs, not promises!”
Development on the platform began about a year ago, leveraging the Filecoin Virtual Machine (FVM) to enable smart contracts for not just storage, but also retrieval and processing workloads. At launch, the platform introduces foundational services accessible via the Synapse SDK, a developer toolkit for seamless integration.
Keeps data online with cryptographic onchain proofs of availability. Verifiable persistence; no trust in third parties. Filecoin Pay: Automates usage-based payments using native USDFC stablecoin primitives. Programmable billing; composable with DeFi.
Filecoin Beam: Enables fast, measured retrievals with incentives for providers. Low-latency access; rewards efficient data delivery.
These components allow developers to create custom storage markets, policies, and even “DeFi frontends” that function like traditional websites but with blockchain-native advantages—such as ENS and Safe wallets trialing easy-to-update interfaces.
The platform supports full cloud workloads, from basic storage to data transformations and AI-driven processing, all tethered to Filecoin’s global network of verifiable storage. Several projects are already integrating: ERC-8004 community: Standardizing onchain cloud interfaces.
Testing user-friendly DeFi UIs. KYVE (data archiving), Monad— high-performance blockchain, Akave and Storacha storage solutions, Geo Podcasts a decentralized media. Filecoin Onchain Cloud is live on the Filecoin testnet as of November 18, 2025, with mainnet deployment slated for January 2026.
Developers can explore it at filecoin.cloud or dive into the Synapse SDK for building. Crypto Economy News shared a detailed thread on the customizable app focus, while users like Cryptiogaga noted its role in advancing Web3 storage tools. Overall sentiment emphasizes resilience amid growing DePIN— Decentralized Physical Infrastructure Networks interest.
This launch positions Filecoin as a cornerstone for data-heavy applications in AI, DeFi, and beyond, potentially reducing reliance on Big Tech clouds. If you’re a developer, it’s worth checking the testnet—early feedback could shape the mainnet rollout.