Token Launchpads: The Great Equalizer or Just Another Exclusive Club?

Ah, the sweet scent of crypto in the air! Token launchpads have made a triumphant return in 2025, like a phoenix rising from the ashes of the ICO debacle. But alas, dear reader, all that glitters is not gold. A recent report by MEXC Research, titled “From ICO to Launchpad,” reveals that while these platforms are indeed back, they’re still not exactly the great equalizer we all hoped for.

The report, which analyzed performance data and user-access structures across leading centralized and decentralized launchpads from January to June 2025, found that centralized exchanges (CEXs) continue to dominate in token volume. However, they often favor users with deep pockets or staked holdings, leaving the rest of us mere mortals out in the cold.

MEXC, the shining star of this report, led in volume with five token launches and a 10.83x average peak return. Their fixed-allocation model avoids VIP tiers and staking thresholds, enabling broader user participation. But don’t get too excited just yet, because Bybit secured the highest individual ROI — 14.71x on the Xterio launch — but only for participants meeting high-stake criteria.

Gate.io, on the other hand, allowed users to invest with as little as 1 USDT, but its snapshot-driven allocation favored early or staked participants, reinforcing inequality in access. And let’s not forget about the decentralized platforms like Pump.fun, which are attracting retail interest with unfettered entry—no KYC, thresholds, or staking — yet their lack of controls has led to increased volatility, fraud, and token dumps.

MEXC Research warns that many token offerings are positioned more like liquidity or marketing events than long-term ecosystem builders. High fully diluted valuations (FDVs), limited circulating supply, and rapid value drops are becoming common, benefitting insiders at the expense of average investors.

Recent industry trends reinforce these concerns. Earlier this month, Coinbase acquired token-launch platform Liquifi, signaling confidence in clearer regulation — possibly preceding U.S. policy movement on token issuance. Meanwhile, multiple U.S. federal regulators emphasized more rigorous risk management for crypto custody, which may influence how institutional-grade launchpad infrastructure develops.

MEXC Research suggests that the industry is at a turning point. The report highlights alternative distribution models — such as contribution- and participation-based approaches, and CEX-led incubation systems combining token sales with liquidity, staking, and marketing support, as potential pathways toward fairer and more sustainable token launches.

Institutional-grade mechanisms, more equitable access, and accountability post-launch are essential as the market matures. According to the report, failure to reform launchpad structures could undermine trust and marginalize retail participants, even as overall usage rises. So, dear crypto enthusiasts, let us hope for a brighter, more inclusive future for token launchpads! 🌟🚀

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2025-07-15 13:55