Daniel Walker
Coinbase has officially launched a new public token sales platform, giving retail investors — including those in the U.S. — access to token launches for the first time since the 2018 regulatory crackdown.
The first token sale on the platform will feature Monad’s MON token, set to take place from November 17 to November 22, just before the Monad mainnet launch on November 24.
Coinbase emphasized that its new platform aims to create fairer and more transparent token distributions. “Unlike ‘first-come, first-served’ sales that often favor large buyers, our token sale model prioritizes community participation,” the exchange explained. The system uses a “fill from the bottom” algorithm, ensuring wider token distribution and limiting concentration among whales.
Additionally, users who quickly sell their tokens after listing (within 30 days) may receive smaller allocations in future sales, encouraging long-term participation and community growth.
Platform Built for Transparency and Fair Access
The launch follows Coinbase’s $375 million acquisition of Echo, the on-chain fundraising platform created by well-known trader Jordan “Cobie” Fish. However, Coinbase clarified that its new token sales platform operates separately from the Echo brand.
Coinbase plans to host around one public token sale each month, requiring issuers to disclose detailed project information, tokenomics, and team backgrounds to ensure investor transparency.
To prevent price manipulation, Coinbase mandates a six-month lockup for issuers and affiliates, banning over-the-counter or secondary sales during that period without prior approval and public disclosure.
The exchange also highlighted that users will not pay participation or listing fees — instead, Coinbase takes a small percentage of USDC proceeds from the issuer’s side.
A Return to Public Crypto Fundraising in the U.S.
This development marks a significant milestone for the U.S. crypto industry, restoring public access to initial coin offerings (ICOs) after nearly seven years. Between 2016 and 2018, ICOs fueled billions in crypto fundraising but also led to widespread fraud and speculative bubbles.
In 2018, the U.S. SEC cracked down on ICOs, labeling many tokens as unregistered securities, effectively pushing new projects offshore or into private sales.
Now, under the Trump administration’s pro-crypto stance, Coinbase says it’s building toward a “transparent and sustainable” token economy. “This is the most pro-crypto government in U.S. history,” a Coinbase spokesperson told The Block. “We’re excited to create opportunities that empower both builders and investors.”
In the coming months, Coinbase plans to introduce advanced features such as limit orders and custom allocation settings for targeted user groups.
Monad Becomes the First Project on Coinbase’s New Platform
Monad, a high-performance Layer 1 blockchain compatible with Ethereum, will be the first project to launch its token on Coinbase’s new sales platform.
The MON token will have an initial supply of 100 billion, divided into five key allocations. 7.5 billion MON (7.5%) will be offered to the public via Coinbase at $0.025 per token, with purchase requests ranging from $100 to $100,000. Any unsold tokens will be redirected to ecosystem development.
Additionally, 3.3 billion MON (3.3%) were distributed via airdrop to Monad community members, while 38.5 billion MON (38.5%) are reserved for ecosystem growth under the Monad Foundation, representing 49.4% of tokens unlocked at launch.
The remaining 50.6% will stay locked for at least one year, covering 27 billion (27%) for team members, 19.7 billion (19.7%) for investors, and 3.95 billion (3.95%) for the Category Labs Treasury (formerly Monad Labs).
Monad clarified that locked tokens cannot be staked, ensuring that initial staking rewards circulate among public holders rather than early insiders.
All locked tokens are expected to fully unlock by Q4 2029, marking the fourth anniversary of the Monad mainnet.
