Monaco is trading infrastructure on Sei, giving exchanges, market makers, and trading apps one shared order book instead of separate, thinner liquidity pools. Monaco Research, led by former Goldman Sachs and GSR executive Simran Singh and incubated by Sei Labs, built it for sub-millisecond order matching with Sei’s roughly 400-millisecond settlement, targeting tokenized equities, commodities, prediction markets, and FX alongside crypto.
Status: No confirmed token or airdrop
Chain: Sei (Atlantic-2 testnet)
TGE Date: Not confirmed
Eligibility: Not officially defined by Monaco
Deadline: None set, testnet is ongoing
None of that requires a token to use right now. The public testnet runs entirely on test funds distributed through a faucet, letting users try the order book, place trades, and add liquidity without any real money at stake. It is a way to test the product, not a confirmed step toward any reward.
Am I Eligible for a Future Monaco Airdrop?
There is no official eligibility list because Monaco has not confirmed a token. Its Launch to List Program helps other projects launch their own tokens on Monaco’s infrastructure, rather than Monaco issuing one for itself. As of the publish date, Monaco has made no statement on a native token, snapshot date, points system, or retroactive rewards.
Without confirmed criteria, the closest signal is the activity Monaco already highlights: trades, limit orders, added liquidity, and TraderCode referrals. Genuine, repeated use is likely to matter more than a one-off activity. Monad’s testnet followed a similar pattern for months before confirming details, rewarding users with wallet history once criteria went live, though none of this reflects Monaco’s own stated rules.
How to Set Up a Wallet and Trade on the Monaco Testnet
- Set up a dedicated wallet. Use an EVM-compatible wallet you have not used for other testnets, so any future activity tracking is clean and easy to review.
- Add the Sei testnet. Open the Monaco testnet app and add the Sei Atlantic-2 testnet when prompted, or add it manually through a network list like Chainlist.
- Claim test funds from the faucet. The Monaco faucet issues test USDC and splits it between a spot account and a margin account. This is test money with no real-world value, used only to simulate trading.
- Check your balance before trading. Confirm the split funds landed in both accounts before placing any orders.
- Place a market order. Try a small spot or perpetual trade to see how the order book matches it.
- Place a limit order. Adding a resting limit order is how Monaco’s central order book rewards makers, and it is worth testing separately from a market order to see the difference in how each fills.
- Review your activity. Check open orders, filled trades, and balances across both accounts to confirm everything settled as expected.
Risks to Consider
Trying an unconfirmed airdrop comes with a different risk profile than a live one, since there is no official program to point to yet. Here is what matters most before connecting any wallet.
1. No Confirmed Reward
Nothing here guarantees a future token or airdrop. Time spent on the testnet could end with no distribution at all, and any claim that a snapshot has already been set should be treated as unverified until Monaco or Sei Labs says so directly.
2. Wallet Hygiene
Testnet apps still ask for wallet connections and network additions. Only connect a wallet set aside for testing, and never reuse seed phrases across a testnet wallet and a wallet holding real funds.
3. Third-Party Referral Links
Testnet invites often circulate with referral codes attached. A referral code does not change your funds or your eligibility for anything, since there is no confirmed reward program yet.
4. Filtering Out Fake Activity
If Monaco ever introduces rewards, expect it to screen out fake or duplicate accounts the way other Sei and Layer 1 projects do, catching things like multiple wallets funded from the same source or repeated small trades made solely to appear active. Genuine use beats volume for its own sake, and there is no way to know exactly what Monaco would look for in advance.
Still Learning How Crypto Airdrops Work?
If this is one of your first airdrop campaigns, start with our crypto airdrops guide page to get a solid foundation on how airdrops work and what to look for. It is also worth checking the most common airdrop farming mistakes before you dive in, since several of them apply directly to campaigns like this one.
Frequently Asked Questions
Still deciding whether Monaco is worth your time? Here are the questions readers ask most before trying a testnet with no confirmed reward.
Has Monaco confirmed an airdrop?
No. Monaco has not announced a token, a points system, or any retroactive rewards for testnet activity as of today.
Do I need real money to use the Monaco testnet?
No. The Monaco faucet issues test USDC with no real-world value, split between a spot account and a margin account for simulated trading.
What is a TraderCode in Monaco?
A TraderCode is a referral code built into the Monaco app. Share it, and traders who join through your link earn you a cut of the trading fees they generate.
Is the Monaco testnet safe to use?
The testnet itself only touches test funds with no real value, so there is nothing to lose by trading on it. The risk sits with wallet habits, not the testnet. Use a wallet you have not connected to real funds, and treat any third-party referral link the same way you would on any other testnet.
