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Monad ICO reveals contract details with major market makers.
Monad announces the first ICO document revealing full information about market makers, loan scale, and execution time. According to the document released by Coinbase, the issuer MF Services (BVI) Ltd. has signed a token loan contract with CyantArb (50 million MON, 1 month), Auros (30 million MON, 1 month), Galaxy (30 million MON, 1 month), GSR (30 million MON, 1 month) and Wintermute (20 million MON, 1 year).
Short-term agreements can be extended monthly. Coinwatch will monitor the wallets of market makers to oversee token usage and idle balances. Additionally, the issuer will deploy up to 0.2% of the initial total supply of MON to provide liquidity on several DEXs to enhance trading capacity and stabilize prices during the initial phase.