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Coinbase
The first project to appear on the platform will be Monad, a blockchain network releasing its native token from November 17 to 22.
According to a November 10 blog post, the company plans to offer roughly one sale per month. Each event will remain open for a week, which allows users to place requests for token purchases.
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When the sale ends, an automated system will distribute tokens by giving smaller buyers priority before filling larger orders.
To discourage quick reselling, Coinbase will track post-sale activity. Users who sell their tokens immediately may receive smaller allocations in future sales.
Only verified Coinbase users who pass standard compliance checks will be able to participate. All purchases must be made using USDC
Projects using the platform must agree to a six-month lockup period. During that time, project founders and their associates cannot sell tokens on secondary markets or through private deals unless Coinbase approves and the sale is publicly disclosed.
There are no participation fees for buyers. However, token issuers will pay Coinbase a fee based on the amount of USDC they raise, along with any extra costs related to listing their tokens on the exchange.
On October 21, Coinbase announced plans to add private transaction features to its Base network. How? Read the full story.
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