Monochrome Exchange, a multi-asset trading venue founded by former Binance Australia CEO Jeff Yew, has announced an initial exchange offering for its native utility token MCR.
The IEO will run from September 21 at 13:00 UTC+8 to September 28 at 13:00 UTC+8 on the Monochrome Launchpad. The token will be offered at $0.88 per MCR, with a public sale supply of 10,500,000 MCR, representing 5% of the maximum 210,000,000 token supply. Participants can commit USDT, with no minimum subscription and a maximum of $100,000 per account.
Following the token generation event, MCR will have a one-month cliff and then vest linearly over three months. The exchange says no external wallet, bridge or on-chain claim is required.
Monochrome Exchange currently lists more than 260 markets across crypto spot and perpetuals, tokenized US and Hong Kong equities, ETFs and indices, commodities, and pre-IPO assets including OpenAI and Anthropic. MCR will offer fee discounts of 10% to 50%, launchpad allocation access, staking, and governance rights. The platform also plans a Digital IPO framework with the first Digital IPO scheduled for Q1 2027.
The project includes a deflationary mechanism: 20% of net platform profit and 25% of Launchpad and Digital IPO fee revenue will be used to buy back MCR quarterly, with purchased tokens sent to a burn address.
Jeff Yew framed the launch by saying: “Tokenisation has produced a large number of assets that barely trade. The harder problem has always been the market underneath them: liquidity, settlement, and compliance that holds up. We listed the markets first and are offering the token second.”
Monochrome Exchange operates separately from Monochrome Asset Management, and the announcement notes that Yew's history does not extend any licence or regulatory status to Monochrome Exchange or the MCR token.
