TLDR
- Hyperliquid has listed perpetual futures for the unlaunched Monad token.
- Traders can use up to 3x leverage to long or short the MON-USD pair.
- Hyperliquid added the listing in response to community demand.
- Monad’s mainnet and token launch have not occurred as of October 8.
- The project is currently in the audit phase, which may delay the launch until November.
Decentralized exchange Hyperliquid has listed perpetual futures for the unlaunched Monad (MON) token. Traders can now long or short MON-USD hyperps with up to 3x leverage. The move follows increased community interest ahead of Monad’s mainnet deployment.
Hyperliquid Launches MON Perpetual Futures
Hyperliquid confirmed the MON perpetual futures listing was “by community request” on its trading platform. The MON-USD hyperps allow users to access 3x leverage, offering speculative exposure before the token’s launch. Hyperliquid continues expanding its derivatives catalog through community-driven initiatives.
By community request, Hyperliquid has listed MON-USD hyperps. You can now long or short the unlaunched Monad token with up to 3x leverage. pic.twitter.com/dsQQPvZ4en
— Hyperliquid (@HyperliquidX) October 8, 2025
The MON token has not been launched, and a confirmed TGE date has not been announced yet. Still, Hyperliquid has enabled early market participation for traders. It allows speculation on price direction without requiring the actual token.
The listing sets Hyperliquid apart from competitors by offering futures ahead of the token’s availability. As demand for early access increases, Hyperliquid appears to be targeting advanced market positioning. Its proactive listing gives traders an edge.
Monad Token Launch Delayed Beyond Expectations
Monad previously suggested a late September launch, but no mainnet or token generation has occurred as of October 8. Hyperliquid’s listing comes amid a delay in Monad’s development timeline. This has pushed potential mainnet launch projections toward November or later.
The project’s audit phase began in late July, as announced by the co-founder. Most Layer-1 chains, such as Aptos and Sui, took around four months from audit to mainnet. Hyperliquid’s futures offering bridges that waiting gap for eager traders.
Meanwhile, the Monad testnet has remained live since February, letting users explore the ecosystem. Hyperliquid leverages this ongoing activity to generate interest in the futures market. Engagement through trading adds to Monad’s growing visibility.
Ecosystem Engagement May Influence Airdrop Allocations
Users engaging in Monad’s testnet may become eligible for future airdrops. Hyperliquid’s listing increases awareness of such opportunities within the Monad ecosystem. Activities such as using testnet DApps or joining the project’s Discord may impact future rewards.
Projects such as Kintsu, Magma, and FastLane are part of the active testnet. Players also explore mini-games like 2048 and earn testnet MON through role-based criteria. Hyperliquid helps bring attention to these interactions by enabling futures trading.
Early testnet users may receive up to 5 MON based on engagement. Others with more minor roles or holdings could earn limited amounts. Hyperliquid’s initiative supports speculation while encouraging deeper participation in the ecosystem.
