The top-tier public chain Monad has been continuously declining since its launch, and Arthur Hayes stated on the program that Monad is yet another VC token with a high FDV and low circulation. This type of public chain, which relies solely on speculation without any application, will ultimately end up like Berachain, continuing to fall.

Arthur Hayes quoted Do Kwon's famous saying, mocking Monad's continuous decline.

Arthur Hayes tagged Monad CEO Keone Hon, who looked at the continuously declining graph of Monad and said: 'Keone seems to be saying, guys, don't panic... (Steady lad... is a famous saying by Do Kwon during the 2022 Terra collapse, used to pretend to be calm and reassure the community, but later became a subject of mockery)'

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

Arthur Hayes Questions Monad Token Economics

Monad CEO Keone Hon wrote a lengthy response: 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've seen you comment on Monad multiple times. While I am sure some comments may have been taken out of context, I think you might be interested in understanding what makes Monad different and why it is not just another L1.

He then began to list the technical advances of Monad, including consensus mechanisms, block speed, etc. He said: The ecosystem is just getting started, but there is already a group of young, hungry developers building new applications. The Monad Foundation and Category Labs team are fully committed to continuously expanding the ecosystem. Research in areas like asynchronous execution, gas pricing, and privacy will also continue to push the entire industry forward. This is only the 6th day since the mainnet launch, and our excellent team will continue to break through and innovate.

He mentioned that MON was the first token on Coinbase's token sale platform, aiming to allow as many people as possible to obtain tokens before the public listing. The token sale used a 'bottom-up order filling' method to prevent whales from sweeping the entire sale at once like other projects. He even 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; see you on-chain.

Arthur Hayes sarcastically asked: Why doesn't Monad fully unlock its tokens?

Arthur Hayes replied: I have no clue about your technology. I believe it must be good; everyone says you are exceptionally smart. But your token economic model almost certainly means $MON will only continue to decline. How will this chain absorb 90% of the tokens without crashing? How much usage is needed to create natural demand so that early investors and team members can sell after the tokens unlock? There's nothing wrong with selling; your early supporters and team members take risks and deserve 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 that Arthur Hayes's information was incorrect; Monad maintains an annual inflation rate of 2%, which is lower than other L1s. Arthur Hayes retorted that if you are truly different from other 'Ethereum killers,' why don't you fully unlock the tokens at once and let market supply and demand prove you right?

In this article, Arthur Hayes mocked Monad's potential 99% crash using a famous quote from Do Kwon, sarcastically asking: If it's so strong, why doesn't it fully unlock its tokens? This was first reported by Chain News ABMedia.