Decentralized derivatives exchange Hyperliquid has listed perpetual futures contracts for the Monad (MON) token, even though the token itself has yet to launch. According to Hyperliquid, the listing was made “by community request,” allowing traders to long or short MON-USD perpetual contracts with up to 3x leverage.
Regarding the token launch, multiple industry sources had initially pointed to September 30 as the expected date for both the Monad token and mainnet launch. However, as of October 8, the token generation event (TGE) has not occurred, and the mainnet remains offline.
Following a late-July update from Monad’s co-founder, the project appears to currently be in the audit phase—the final step before mainnet deployment. Historical timelines from comparable Layer-1 networks like Aptos, Sui, and Solana suggest that audits typically take around four months, meaning Monad’s mainnet launch may now be delayed until November or later.
While this extends the waiting period, it also gives users additional time to engage with the ecosystem and potentially improve their eligibility for future airdrops. The Monad testnet, which launched in February, provides multiple ways for users to participate.
Examples of engagement include interacting with ecosystem projects such as Kintsu, Magma, FastLane, Opinion Labs, aPriori, and Kuru, playing testnet games like 2048, and using various testnet dApps. Specific incentives include:
- Users with a Full Access role on Discord may receive 5 MON on the testnet.
- Users holding at least 0.01 ETH on Ethereum Mainnet with an outgoing transaction may receive 2 MON.
- All other testnet participants receive a smaller allocation of 0.05 MON.
