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Coinbase Resumes Token Sales in the U.S. After Six-Year Hiatus
Coinbase is launching a new platform for initial token offerings, providing retail investors in the U.S. with access to regulated primary cryptocurrency sales for the first time since 2018. The first trading event for the layer-1 blockchain token Monad is scheduled for November 17–22.
According to the company’s statement, a key feature of the platform will be its allocation algorithm that “prioritizes smaller orders.” This will ensure “broader distribution and prevent large players from dominating.”
“Our algorithm is designed to promote wider allocation and limit asset concentration among large buyers. Typically, this results in a fuller distribution among participants requesting the smallest amounts, with gradual fulfillment of larger requests until the supply is exhausted,” the Coinbase team stated.
In terms of transparency, the exchange has introduced new strict requirements for token issuers themselves. These include a mandatory six-month lock-up period for issuers and their affiliates, preventing them from selling tokens on over-the-counter or secondary markets immediately after the sale. According to the statement, any exceptions require public disclosure and Coinbase approval.
The effectiveness of the new platform will be tested for the first time during the Monad token sale. The layer-1 blockchain project has allocated 7.5% of the total MON supply for public sale at a price of $0.025 per token.
See also: "Spot Trading Volume on Crypto Exchanges Rose by 36% in October"
