Arthur Hayes mocked Monad's 99% fall with a quote from Do Kwon, sarcastically asking: "If it's so strong, why isn't the Token fully unlocked?"

The top-tier public chain Monad has been continuously falling since its issuance. Arthur Hayes stated on the program that Monad is another VC coin with a high FDV and low Circulating Supply. This kind of public chain, which only has speculation and no application, will ultimately face the same fate as Berachain, continuously declining.

Arthur Hayes quoted a famous saying by Do Kwon, mocking Monad's continuous fall.

Arthur Hayes tagged Monad CEO Keone Hon, who looked at the constantly falling chart of Monad and said: “Keone seems to be saying, guys don't panic… (Steady lad… It's a famous quote from Do Kwon during the 2022 Terra crash, used to pretend to be calm and reassure the community, but later used as mockery ).”

He also publicly stated on the show that Monad is another high FDV, low Circulating Supply VC coin, just like Berachain, which may eventually fall by 99%. Protocols driven by venture capital speculation rather than by applications often end up like this.

Arthur Hayes questions Monad token economics

Monad CEO Keone Hon responded with a lengthy message: Dear Arthur Hayes, I have great respect for everything you have built for this industry. Perpetual contracts are an amazing innovation that I believe will continue to grow rapidly, and your impact on the entire industry is profound. Over the past few days, I have seen you comment on Monad multiple times. While I am sure some comments may have been taken out of context, I thought you might be interested to understand what makes Monad different and why it is not just another L1.

Then he began to detail the technical advancements of Monad, including the consensus mechanism, block generation speed, and more. He said: the ecosystem has just started, but there is already a group of young, hungry developers building new applications. The Monad Foundation and the Category Labs team are fully committed to continuously expanding the ecosystem. Research in areas such as asynchronous execution, gas pricing, and privacy will also continue to drive the entire industry forward. This is only the 6th day since the mainnet went live, and our excellent team will continue to break through and innovate.

He mentioned that MON is the first token on the Coinbase token sale platform, aimed at allowing as many people as possible to acquire the token before going public. The token sale adopts a “bottom-up filling” method to avoid whales clearing out the entire sale amount at once like other projects. He directly told Arthur Hayes that if he wanted to get some MON to try out the network, he would be happy to transfer some to him. Thank you again for your contributions to this industry, and we will see you on the chain.

Arthur Hayes sarcastically questions: Why isn't Monad fully unlocking its tokens?

Arthur Hayes replied: I know nothing about your technology. I believe it must be good, everyone says you are exceptionally smart. But your token economic model almost certainly means that $MON will just keep falling. How does this chain absorb 90% of the tokens without collapsing? How much usage is needed to create natural demand, allowing early investors and team members to sell after the tokens are unlocked? There is nothing wrong with selling; your early supporters and team members take the risks and should rightfully receive substantial returns.

Please tell the community how you will maintain a monthly inflation rate of about 1% solely through staking rewards? Give me a good explanation, I don't care about your technology, I'm just a trader.

Keone pointed out the misinformation from Arthur Hayes, stating that Monad maintains an annual inflation rate of 2%, which is lower than other L1s. Arthur Hayes retorted that if you are really different from other “Ethereum killers”, why not unlock all the tokens at once and let market supply and demand prove you are right.

In this article, Arthur Hayes mocks Monad's 99% collapse with a famous quote from Do Kwon, sarcastically asking: If it's so strong, why isn't the token fully unlocked? This first appeared on Chain News ABMedia.