On October 9th, the highly anticipated Layer 1 blockchain Monad officially announced on the X platform that the Airdrop claiming portal will officially open on October 14th.
This news immediately attracted widespread attention in the cryptocurrency community. According to AEVO data, the pre-market price of the MON Token rose to $0.14 after the airdrop claim time was determined, before falling back to around $0.117.
01 Monad’s Airdrop Innovation
Unlike traditional Airdrop methods, Monad has adopted a brand new Airdrop claiming mechanism this time, breaking away from the conventional "qualification verification" model.
Monad Growth Director Kevin McCordic revealed during the threadguy podcast that past Airdrops typically used a qualification verification system, verifying whether users met the criteria before they could claim.
However, the Airdrop of Monad will not adopt this method; there will be a time-limited window during which users must complete specific actions to claim.
This innovative model has sparked widespread speculation in the community, with some believing it may be a "first come, first served" method of distribution, while others think it could require binding social media accounts to assess account quality, with high-quality social accounts potentially receiving more Token Airdrops.
02 Project Background and Technical Advantages
Monad is not an ordinary blockchain project; it is developed by Pyth and Solana A high-performance L1 public chain developed by the team over a period of more than two years.
As a high-performance public chain compatible with Ethereum, Monad defines itself as a high-performance L1 that adopts a PoS mechanism and is EVM-compatible.
It aims to create a new paradigm of public chain possibilities through the pipeline execution of Ethereum transactions.
Key innovations include MonadDB (a database designed specifically for Ethereum state access) and Optimistic parallel execution (which ensures high TPS with minimal overhead).
Monad separates the consensus layer from the execution layer, further enhancing scalability and enabling developers to build applications that require excellent performance and low latency.
On the evening of April 9, 2024, Monad Labs announced the completion of a $225 million financing round at a valuation of $3 billion, led by the well-known investment firm Paradigm, with participation from Electric Capital and Greenoaks.
As the most notable project in the Layer 1 track, Monad, which focuses on the concept of "Parallel EVM," aims to introduce a "parallel processing" execution layer scaling solution, significantly improving network execution efficiency while being 100% compatible with all EVM bytecodes.
03 Market Performance and Community Response
After Monad officially announced the airdrop claim time, the market reacted quickly and strongly.
According to AEVO data, the MON Token pre-market price rose to 0.14 USD after the announcement, although it has since retreated, it still remains around 0.117 USD.
According to market data, the fully diluted valuation (FDV) of MON is close to $12 billion, and it is expected to distribute 100 billion MON Tokens through Airdrop.
The scale of this FDV leaves many projects that have been deeply entrenched in the industry in the dust.
Community users have mixed reactions to the Monad Airdrop.
Some users are itching to participate, as user Gas_Optimizer stated: "The freeloaders are ready to charge in."
Some users are also skeptical about the project. User SignatureDenied commented: "This is just too ridiculous," while Satoshi Challenger bluntly stated: "Ha, another continuous machine for harvesting inexperienced investors."
On Gate Square, user ChainChef expressed concern about MON’s high FDV: "My appearance looks like an overripe soufflé… 11.5b fdv is really too spicy, to be honest."
User rugdoc.eth commented: "It’s just another case of overdrawn emotional speculation," reflecting a cautious attitude among some community members towards the project’s prospects.
04 Users who missed early interactions still have opportunities.
Although Monad’s official team has likely completed the snapshot for early participants, users who missed early interactions still have a chance to grab the MON Token Airdrop.
"Gather enough" Binance Alpha points or hold BNB Token may be a way.
Last month, the vast majority of popular projects allocated a certain amount of Token Airdrop to Binance Alpha, and many projects even provided a share to Binance Alpha users that was much higher than that of early participants in project interactions.
The token airdrop activities of major exchanges are also worth noting.
For popular projects like Monad, mainstream centralized exchanges usually launch both contract and spot trading, and to attract users to trade, they will introduce various Token reward programs.
These may include various forms such as storing U "freebie" tokens, trading to earn tokens, inviting new users to earn tokens, etc.
In addition, the Monad ecosystem’s native projects are also worth ongoing interaction, and these projects may also conduct TGE in the near future.
With the official announcement of the airdrop claim time by Monad, the mainnet launch has entered the countdown stage. This not only signifies that the ecosystem is about to welcome a new round of activity, but it may also drive the projects that have migrated away and the native projects of the Monad ecosystem that are still holding on to simultaneously initiate their TGE.
05 Conclusion
The opening of the Monad Airdrop receiving portal marks the official entry of this highly anticipated Layer 1 blockchain project into the final stage before its mainnet launch.
The airdrop on October 14 will adopt an innovative "limited time window + specific operation" model, breaking the traditional airdrop claiming method.
Despite differing opinions within the community regarding Monad’s high FDV and Token distribution plan, the market’s strong interest in the MON token indicates the project’s significant influence in the industry.
As the airdrop distribution day approaches, the cryptocurrency community’s attention will turn to Monad, observing how this high-performance Layer 1 blockchain will change the landscape of public chain competition.
