Coinbase disclosed the size of the market-making funds and protocol cycle related to the Monad ICO, and stated that a third party was involved in the entire token process for oversight.

This issuance marks the first instance of a major institution fully disclosing its list of market makers, funding size, and execution period. The document states that MF Services (BVI) Ltd., the issuer of Monad, has signed token lending agreements with five market makers: 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). These short-term agreements can be renewed monthly, and the third-party monitoring agency Coinwatch will be responsible for verifying the token usage and idle balances of the aforementioned market makers' accounts.