AskFast

AI

**Why you can see MON tokens being traded even though Monad’s mainnet isn’t live yet** 1. **Synthetic / Derivative products** - Centralized exchanges (e.g., OKX) often list *perpetual futures* or *synthetic tokens* that track the price of an upcoming asset. - In the data you received, OKX lists a **MON/USDT perpetual contract** that started trading on 2025‑10‑10. This contract doesn’t require the actual blockchain to be live; the exchange simply creates a price‑reference model (usually based on the token‑sale price, private‑sale data, or a community‑provided oracle) and lets users trade the derivative. 2. **Pre‑launch token issuance (pre‑TGE)** - Projects sometimes mint a “pre‑launch” version of the token on a testnet or on a separate side‑chain. The token can be wrapped or bridged into a mainstream exchange as a placeholder. - The “Coin Pulse/Monad ⨀” entry in the search results notes that Monad is still in a **pre‑TGE** stage, meaning the token exists in a controlled environment but isn’t yet usable on the final mainnet. 3. **Liquidity provisioning by the project/team** - To bootstrap market interest, a project may allocate a portion of the token supply to an exchange *off‑chain* (e.g., via a custodial wallet). The exchange then offers spot or perpetual trading while the underlying chain is still under development. This is common for high‑profile launches where the community wants to trade the token immediately after the token sale. 4. **Market‑making and speculation** - Market makers can create order books for a token that technically has zero on‑chain activity. They rely on the expectation that the mainnet will launch, and traders speculate on the future price. The price may be largely driven by the token‑sale price, news, and community sentiment rather than on‑chain metrics. 5. **Regulatory and compliance considerations** - Some jurisdictions allow trading of “pre‑launch” tokens as long as the exchange treats them as *contracts for difference* (CFDs) or *synthetic assets*, which are regulated differently from actual on‑chain tokens. ### Bottom line The MON token you see on OKX is a **perpetual futures/derivative contract** (and possibly a custodial spot token) that doesn’t require the Monad mainnet to be operational. The exchange creates a price reference based on the token‑sale data and community expectations, allowing traders to buy, sell, and hedge before the blockchain itself goes live. This practice is common for many high‑profile Layer‑1 projects that want to generate liquidity and market interest ahead of mainnet launch.