Monad is preparing to launch its MON token with a whopping 100 billion supply, sparking dilution concerns within the community.
The following is a summary of the information that you will find on this website:
- The 100 billion MON supply has sparked debate on crypto X over potential inflation and token value dilution.
- Despite the concerns raised, the launch of mainnet is eagerly anticipated because it was a success on testnet. Also, top tier VCs have backed this project.
Monad has revealed that the upcoming native token, Mon, which is compatible with Ethereum Layer 1 blockchains, will initially have a supply of 100 Billion tokens.
Some users have expressed concerns over potential dilution, long-term inflation and some jokes. calling You can also find out more about us here. “Monad Inu” — implying that the enormous 100 billion supply makes it resemble a memecoin Many people prefer a utility token to a more serious one.
Some people have argued that a big supply would be logical in the case of Monad. As a user @wyckoffweb explained, with block times of 400 ms and high throughput, the network will process massive numbers of micro-transactions, and such a large token supply ensures transaction fees remain tiny and manageable without awkward decimals.
The price of a MON depends more on the fully-diluted network valuation when it is listed than the raw supply. For example, a $1 billion FDV would imply roughly $0.01 per MON, whereas a $100 billion FDV would price it at $1 per MON, showing that distribution and valuation are far more important than the sheer number of tokens.
During the end of September, TGE will launch and the mainnet, which is the official gas token, MON, will become available. The token can be used as a transaction fee. stakingThe platform supports DeFi, NFT and gaming apps.
Monad’s launch, which is backed up by top-tier VCs, such as Paradigm Capital or Dragonfly Capital with 10,000 TPS (transactions per second), sub-second completion, and low transaction costs, has been highly anticipated. The public testnet, launched in February, has been highly successful, attracting significant activity: over 2.44 billion successful transactions, 34 million contracts deployed by roughly 3 million creators, and daily peaks of 34 million transactions in early August.
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Source: crypto.news
