Coinbase is launching a new initial coin offering (ICO) platform, providing retail investors in the US with access to regulated cryptocurrency ICOs for the first time since 2018. The first trading of the layer-one Monad blockchain tokens is scheduled for November 17–22.
According to the company’s statement, the platform’s key feature will be a distribution algorithm that «prioritizes smaller orders.» This will ensure «wider distribution and prevent dominance by large players.»
«Our algorithm is designed to promote a broader distribution and limit the concentration of assets among large buyers. This typically results in a more complete distribution among participants requesting the smallest amounts, and a gradual fulfillment of larger requests until the supply is exhausted,» the Coinbase team stated.
Regarding transparency, the exchange is imposing strict new requirements on token issuers themselves. These include a mandatory six-month lockup period for issuers and their affiliates, which prevents them from selling tokens over-the-counter or on secondary markets immediately after the sale. According to the statement, any exceptions require public disclosure and approval by Coinbase.
The new platform’s effectiveness will be put to the test for the first time during the Monad token sale. The layer-one blockchain project has allocated 7,5% of the total MON supply for public sale at a price of $0,025 per token. token.