Coinbase (COIN) is introducing a new token sale platform that aims to reboot public crypto offerings with protections designed to prevent the problems that plagued the 2017-2018 initial coin offering (ICO) boom.

The new platform will host roughly one token sale per month, according to a Monday press release and investors will need to submit purchase requests during a one-week window for each sale. After that, an algorithm will determine how the tokens are distributed, aiming to avoid a first-come, first-served system and instead create what Coinbase describes as a “broad and equitable” allocation.

The initial offering comes next week from layer-1 blockchain startup Monad, said the company.

Token purchases must be made using Circle’s (CRCL) stablecoin, USDC, and only users in good standing who have completed identity verification and compliance checks will be able to participate. The platform will be available to users in most global regions, with plans to expand access over time.

In a nod to the failures of past ICOs — which saw billions raised by projects that often had no functioning product or oversight — Coinbase said it has built in several investor-protection mechanisms. For example, project teams and affiliated parties will be blocked from selling any of their tokens for at least six months after the public sale. This restriction applies to both private and exchange-based sales.

Coinbase will also vet projects before allowing them to list, assessing criteria such as user interest, the founding team’s track record, and token structure, including how tokens are distributed and how long they are locked up.

ICOs reached a peak in 2017 and 2018, when crypto projects raised billions of dollars by selling tokens directly to the public. While some projects went on to develop functioning networks, many collapsed or were exposed as frauds, drawing scrutiny from regulators and prompting platforms like Coinbase to steer clear of the model.

By automating allocation and enforcing post-sale restrictions, Coinbase’s new approach may represent a reset for public token sales, this time with more oversight.