Analyzing the conversation between Hayes and Monad co-founders, it is evident that the high FDV and low circulating supply token model indeed carries potential risks. Hayes recommends that the team's and investors' tokens should be fully unlocked as soon as possible, and this viewpoint is worth noting. Although full unlocking may lead to significant short-term price fluctuations, in the long run, it helps verify the project's genuine demand and value.

Currently, most projects still adopt a gradual unlocking model mainly to stabilize prices and retain early investors. However, this approach may also mask the project's actual situation and delay market clearing. Hayes's suggestion, while aggressive, is reasonable—rapid unlocking can more quickly test the project's strength and promote healthy market development.

For Monad, if they truly adopt Hayes's recommendation to fully unlock tokens, it would undoubtedly be a bold attempt. This could cause short-term shocks to the market but also provides Monad with an opportunity to prove its own value. We need to closely monitor subsequent developments to see whether Monad can maintain user engagement and token value through technological advantages and practical application scenarios after full unlocking. This will provide valuable experience for the entire industry.