Monad, the upcoming L1 chain, opened the claims for the long-awaited MON airdrop. The eligible wallets are linked to several high-profile crypto communities.
The Monad airdrop for MON tokens may enjoy increased interest, as the project just opened its claims page. The MON token airdrop will precede the chain’s main net launch.
The airdrop will allocate MON tokens to 5,500 members of the Monad community, as well as nearly 225K eligible members of the wider crypto community. Monad will use Trusta AI to sift out Sybill addresses and allocate MON to its core power users.
Monad to reward multiple crypto communities
The focus of the Monad airdrop will be on power users from other platforms. The airdrop will also reward high-volume traders on Hyperliquid, Phantom Wallet, as well as Pump.fun trenches traders, Virtuals Protocol users, and other memecoin holders. Monad will be the airdrop for ‘trenches’ traders that have so far received limited recognition and rewards.
The snapshot for all communities was taken as of September 30. For some criteria, activity was tracked over a multi-month period. As with other airdrops, Monad has been attacked with malicious links for fake token claim pages.
Other MON recipients include the users of Aave, Euler, Morpho, Pendle, Lighter, Curve, PancakeSwap, and Uniswap. Ethereum users with major DAO activity and DeFi protocol usage will also be rewarded. Users of the Backpack perpetual futures DEX will also receive MON tokens.
A MON allocation will go to the owners of NFT collections, including CryptoPunks, Milady Maker, Moonbirds, Pudgy Penguins, and others. The long-term activity suggests Monad was wary of point farming and non-organic activity.
The Monad Cards initiative, which relied on social media identities, pointed out another group of MON recipients based on their real on-chain engagement.
Monad will also reward specific crypto contributors, including ZachXBT, members of SEAL 911, Cantina auditors with significant findings, and members of the Protocol Guild.
Monad has additional VC backers, with $244M raised from OKX Ventures and other funds back in 2024.
MON signals at prices above $1
MON tokens are currently in pre-market trading on MEXC. The tokens are hovering around $0.94, with short-term spikes as high as $39. MON may start with trading anomalies, including potential liquidations for aggressive short positions.
The MON airdrop raised questions on the token’s upcoming trajectory. Other high-profile airdrops like Plasma, ASTER, and PUMP have underperformed after immediate selling.
MON tokens are starting to get short positions on Hyperliquid, signaling the expectation is for MON to slide soon after its launch. Two Hyperliquid whales are shorting MON, with unrealized gains of over $2M. One of the whales carries a position with a notional value of $1.69M, currently with expanding unrealized gains.
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