Deciphering Monad's TGE

Author: Haotian; Source: X, @tmel0211

What can be gleaned from the Monad TGE incident:

1) A globally renowned high-performance public chain failed to be listed on the world's largest exchange. Everyone speculated that the listing fee issue wasn't resolved, but the fact that it didn't provide alpha and holder tokens is inexplicably satisfying to hear;

It turns out that so many xxx initial offerings are the result of a so-called top-tier project token allocation game. As for Monad's choice not to compromise, is it high-mindedness or a miscalculation? The market will ultimately provide the answer;

2) After two months of hype, from the Monad Card to the highly ceremonial airdrop unboxing, and then to its initial offering on Coinbase's launchpad, market expectations were almost pushed to their limit. And what was the result?

It just so happens that this listing window coincided with a period when the market was severely damaged. This incident once again confirms a harsh truth: the liquidity window for TGEs is a million times more important than any meticulously designed marketing strategy. But, upon closer examination, it's chilling to think that we actually need TGEs that don't care about time windows, TGEs that can single-handedly drive the market bull run, right? 3) The current price of around $MON 0.03 is far below Polymarket's 8B expectation, and even only on par with the valuation in the 225M round led by Paradigm. In the previous cycle, everyone could confidently say it was undervalued, but in this round, while people are calling it "another doomed project," they're secretly afraid. If such a top-tier VC and team deliver this kind of result, how can the Crypto industry maintain its position? Monad's TGE is less a matter of the fate of a single project and more a reflection of the entire industry.