Monochrome Exchange has announced an Initial Exchange Offering (IEO) for its native utility token, MCR, with the sale scheduled from September 21 at 13:00 UTC+8 through September 28 at 13:00 UTC+8. The offering price is $0.88 per MCR, with 10,500,000 tokens available, representing 5% of the total supply. Participants will deposit USDT, a dollar-pegged crypto token, and commit funds directly through the Monochrome Launchpad. There is no minimum subscription and a $100,000 maximum per account. MCR will be subject to a one-month cliff after the Token Generation Event, followed by three months of linear vesting and automatic account crediting. Monochrome Exchange says its live platform supports more than 260 markets across crypto, equities, ETFs and indices, commodities and pre-IPO markets, with trades settling on-chain. The exchange was founded by Jeff Yew, former Chief Executive Officer of Binance Australia and founder of Monochrome Asset Management. The companies are separate entities, and Yew's professional history does not extend any affiliate's licensing, authorization or regulatory status to Monochrome Exchange or MCR. The token has a maximum supply of 210 million and includes fee discounts, Launchpad and Digital IPO access, staking and governance functions. Monochrome says 20% of net platform profit and 25% of Launchpad and Digital IPO fee revenue will fund quarterly buybacks, with purchased tokens sent to a verifiable burn address. The platform schedules its first Digital IPO for Q1 2027. MCR provides no ownership, dividend, profit-sharing or redemption rights, and the company warns that digital assets carry significant risks, including total loss.