Coinbase discloses complete market-making arrangements for Monad ICO: five institutions received a total of 160 million MON for lending, with Coinwatch supervising the use of tokens throughout the process
According to the official document information of the Monad ICO published 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 0.20% of the initial supply of MON to provide initial liquidity support for certain decentralized trading platforms, in order to enhance the tradability and market stability of the token during its initial launch. This measure is included in the "ecological development" allocation section and is considered a short-term liquidity injection, which still bears the risk of DeFi market fluctuations.