The new service allows both issuers and investors to participate in a regulated, transparent framework designed to promote fair distribution and long-term liquidity. Coinbase (Nasdaq: COIN) emphasized that it also reopens access for U.S. retail investors to public token sales for the first time since 2018.
Coinbase said the model departs from traditional first-come, first-served sales by introducing a “filling from the bottom” algorithm, which prioritizes smaller token requests and discourages concentration among large buyers. Token allocation is determined after a weeklong request window, and users who hold their tokens for longer periods may earn higher priority in future sales.
For issuers, the platform includes features like mandatory project disclosures, a six-month lockup for team-held tokens, and Coinbase approval for any over-the-counter (OTC) or secondary-market transactions. Issuers pay a fee based on the USDC raised during the sale, while participation remains free for users.
Coinbase disclosed it plans to host roughly one token sale each month and will expand features such as limit orders and enhanced allocation for verified community members. Tokens launched through the platform will also be added to the Coinbase listings roadmap, streamlining access to liquidity post-sale.
By integrating transparent pricing, equitable participation, and compliance-driven oversight, Coinbase aims to establish a global standard for decentralized token distribution.
- What is Coinbase’s new token sales platform?
It’s a regulated marketplace allowing projects to sell tokens directly to retail investors with transparent terms. - When is the first token sale?
The first offering, featuring Monad, runs from Nov. 17–22. - Can U.S. investors participate?
Yes, U.S. retail traders can join public token sales for the first time since 2018. - How often will Coinbase host sales?
Coinbase plans to hold roughly one token sale per month globally.
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