BlockBeats News, November 11th, According to the documentation on Coinbase regarding the Monad ICO, this Monad ICO may be the first time a large institution publicly disclosed its market maker list, funding size, and execution period.
The documentation shows that MF Services (BVI) Ltd. has signed a loan agreement with the following market makers, with specific sizes and terms as follows:
CyantArb: Loan size 50,000,000 MON, agreement term 1 month
Auros: Loan size 30,000,000 MON, agreement term 1 month
Galaxy: Loan size 30,000,000 MON, agreement term 1 month
GSR: Loan size 30,000,000 MON, agreement term 1 month
Wintermute: Loan size 20,000,000 MON, agreement term 1 year
The contracts are for a one-month period and can be renewed monthly. A third-party monitoring agency (Coinwatch) will be responsible for verifying the use of the borrowed tokens, including idle balances in the CyantArb, Auros, Galaxy, and GSR accounts. MF Services (BVI) may also deploy up to 0.20% of the initial total MON supply to provide initial liquidity to one or more decentralized exchanges. This is only intended as short-term limited liquidity support to enhance the accessibility and stability of the token's initial listing but carries inherent DeFi market risks. The amounts for market maker loans and liquidity injections are included in the "Ecosystem Development" allocation.
