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BTC $68,382.31 +1.06%
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XRP $1.42 -4.56%
SOL $81.67 -4.53%
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DOGE $0.0974 -3.83%
ADA $0.2735 -4.22%
BCH $564.29 +0.59%
LINK $8.64 -2.97%
HYPE $28.98 -1.81%
AAVE $122.61 -3.42%
SUI $0.9138 -6.63%
XLM $0.1605 -4.62%
ZEC $260.31 -8.86%

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Coinbase discloses the complete market-making arrangement for the Monad ICO, with five institutions receiving a total of 160 million MON for lending, and Coinwatch supervising the use of the tokens throughout the process

According to the official document information of the Monad ICO released by Coinbase, this issuance becomes the first case where a large institution fully discloses the list of market makers, the scale of funds, and the execution period.The document states that the issuer MF Services (BVI) Ltd. has signed token lending agreements with five market-making institutions, specifically including: CyantArb (50 million MON, 1 month), Auros (30 million MON, 1 month), Galaxy (30 million MON, 1 month), GSR (30 million MON, 1 month), and Wintermute (20 million MON, 1 year). Short-term agreements can be renewed monthly, and the third-party monitoring agency Coinwatch will be responsible for verifying the token usage and idle balances of the aforementioned market-making accounts. In addition, MF Services plans to utilize up to 0.2% of the initial supply of MON to provide initial liquidity support for some decentralized trading platforms, aiming to enhance the tradability and market stability of the token in its early listing phase. This measure is included in the "ecological development" allocation section and is considered a short-term liquidity injection action, which still needs to bear the volatility risks of the DeFi market.
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