Tokens, launched through Exchange -run LaunchPads, offered double-digit returns in 202, but the funding channel still pays for sudden valuations and opaque allocations to retail users, says MEXC Research. Report for July 15th.
This report reviewed dozens of products across centralized exchange (CEX) and decentralized exchange (DEX) platforms. MEXC recorded five lists in the first half of the year, recording an average peak return of 10.83 times the selling price, surpassing the field in terms of deals.
Bybit posted the best single result achieved by Xterio and was returned with a return of 14.71 times the initial investment. However, users had to lock the platform token through a hierarchical system.
At the same time, gate.io reduced the entry cost to 1 USDT, but most of the allocation was sent to stakers that still met the snapshot rules.
Dex venues such as Pump.Fun occasionally matched CEX returns and offered unlimited access, but participants skipped due diligence reviews, resulting in higher rates of extreme price fluctuations and lag pull.
Structural defects hinder post-sale performance
This report identified several mechanisms that dilute long-term value. Many LaunchPads release only small circular supply, listing tokens in estimating full dilution evaluations. This combination encourages early owners and platforms to sell to the first wave of demand in the secondary market.
Immediate drawdowns erode confidence and leave retail buyers holding depreciable assets despite headline ROI figures.
Access design also distorts profits in favor of insiders. CEX programs often support large balance holders through increased VIP layer or staking thresholds, but Dex bonding curves can be played with frontrun manual buyers bots.
Both pathways undermine the narrative of “democratic offerings,” which originally distinguished token sales from traditional venture rounds.
Assigning evaluation caps and contribution-based
The report outlined a new model designed to address these flaws.
A fair launch framework with dynamic pricing aims to expand the distribution without overpricing tokens, while contribution-based systems such as Virtuals Genesis assign spots to users who test their networks and hold ecosystem NFTs, rather than capital bettors.
Additionally, the full-cycle incubation program promises liquidity, marketing and post-registration monitoring to tailor projects to investors. This report recommended a fully diluted rating, a higher public round ratio, and a hard cap with flexible qualification criteria that expands with project maturation.
They also requested post-launch accountability metrics, allowing the platform to track whether the list meets development milestones after the initial sale.
In this study, we concluded that launchpad will continue to dominate early stage distribution during the next market rise. However, only models that balance the possibilities of balancing can potentially maintain user trust with transparent allocations and realistic pricing.
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