As Crypto Slumps, Coinbase Backs Monad's Trilemma-Solving Mainnet

Coinbase, the leading cryptocurrency exchange, is set to expand its offerings with the launch of perpetual contract trading for Monad (MON), a high-performance EVM-compatible blockchain. The move aligns with Coinbase's broader strategy to integrate innovative blockchain projects into its ecosystem, as the platform aims to solidify its role in the evolving decentralized finance (DeFi) landscape. The perpetual contract, which will allow traders to bet on MON's price movements with leverage, is expected to go live alongside broader market developments that highlight the growing institutional interest in Layer-1 networks.

OKX and Binance, two of the largest crypto exchanges, have already begun transitioning their MON/USDT pre-market contracts into standard perpetual contracts, signaling confidence in the token's liquidity and market depth. OKX's conversion, scheduled for November 24, 2025, will support leverage ranging from 0.01x to 50x, while Binance's similar transition will maintain trading functionality during a three-hour window. These updates come as Monad's mainnet officially launches, marking the culmination of a multi-year development effort aimed at solving the blockchain trilemma-balancing speed, security, and decentralization.

The mainnet's debut is accompanied by a tokenomics framework that locks 50.6% of the total MON supply until the end of 2029, with gradual unlocks starting in late 2026. This structure, which includes allocations for the team (26.9 billion tokens), investors (19.6 billion), and the treasury (3.9 billion), is designed to stabilize long-term value while incentivizing ecosystem growth. Additionally, 3.3% of the total supply will be airdropped to over 230,000 users, further broadening community participation. The project has raised over $225 million from investors like Paradigm and Coinbase Ventures, underscoring its appeal to institutional backers.

Telegram's Wallet in Telegram has also joined the fray, listing MON to enable direct trading and staking within the messaging app. This partnership expands access to Monad's network, which has already attracted established protocols like MetaMask, Phantom, Curve, and Uniswap. By integrating trading and social features, Telegram aims to position itself as a universal gateway for digital assets, a move that mirrors Coinbase's own efforts to democratize crypto access through its new ICO platform.

The timing of these developments coincides with a broader crypto market downturn, as Bitcoin (BTC) has fallen below $85,000 amid concerns over macroeconomic conditions and Federal Reserve policy. Analysts note that the Fed's recent signals of potential rate cuts have created uncertainty, exacerbating volatility in both traditional and digital asset markets. However, Monad's focus on scalability-achieved through optimistic parallel execution and a custom database-positions it to capture market share from Ethereum and Solana, which have faced criticism over network congestion and decentralization trade-offs.

Coinbase's entry into perpetual contract trading for MON reflects a strategic pivot toward capitalizing on the next generation of blockchain infrastructure. As the first project to launch via Coinbase's new ICO platform, Monad's success could set a precedent for how centralized exchanges support emerging Layer-1 projects, potentially reshaping the competitive landscape for years to come.