Monad's $355M TVL is not what it looks like. Agora's AUSD gets deposited → Upshift auto-deploys it into Morpho, Uniswap AND Euler simultaneously → each protocol counts the SAME dollars as its own TVL. One pile of capital. Triple-counted. The yield? 5–25% APY → paid almost entirely in $MON emissions from the Foundation's treasury. Farmers bridge in, farm MON, dump it, bridge out. WormholeScan confirms: 75% of bridged assets have already left. The chain earns <$3K/day in fees. It pays out millions in subsidies. That gap is being filled by diluting you, the MON holder. November 2026: 16.8B tokens unlock. Know what you're holding. https://t.co/pyDsk7xbYU