As the global crypto market continues to ride a wave of renewed bullish momentum in 2025, token launchpads have reemerged as a central mechanism for project fundraising and user participation in early-stage crypto projects. However, despite an impressive resurgence in the sector, most platforms continue to restrict access to select users — often excluding the broader retail community. A new report from MEXC Research highlighted that access to token launches remains limited to insiders, high-profile investors, and stakers, raising questions about fairness and long-term value.
However, MEXC’s launchpad model is setting a new industry benchmark by combining high-performance outcomes with inclusive, no-barrier access, demonstrating how launchpads can be both profitable and fair without relying on restrictive VIP tiers or token lock-ups.
MEXC Leads with Open Participation Structure
Among the launchpad platforms reviewed, MEXC’s launchpad stands out for prioritizing retail accessibility. The exchange launched five projects in the first half of 2025, delivering an average peak ROI of 10.83x while operating a dual-pool system that does not require VIP status or token lock-ups. This fixed allocation model is designed to ensure that users without large holdings or staking commitments can still meaningfully participate in token launches.
This contrasts with platforms such as Bybit, which recorded the top single-project ROI (14.71x on Xterio) but required users to lock in large amounts of native tokens to qualify. Similarly, Gate.io offered a low minimum entry of 1 USDT, but its allocation algorithm disproportionately favored stakers and early snapshot participants, reinforcing a pattern of privilege over broad participation.
The report also examined the rise of decentralized launchpads such as Pump.fun, which use bonding curves and open auctions to boost retail access. These platforms have attracted a wave of retail users thanks to their low entry barriers and decentralized user experiences. However, they also face growing concerns around token volatility, fraud risk, and lack of project vetting — issues that have led to frequent price crashes and community disillusionment.
Launchpads: Hype Engine or Growth Tool?
The report further revealed that many current launchpads have devolved into short-term marketing vehicles rather than mechanisms for sustainable growth. Common systemic challenges that are affecting long-term value creation in the sector include Overvalued Fully Diluted Valuations (FDVs), low initial circulating supply, and Rapid post-launch price drawdowns. Such trends often reward early insiders while leaving average participants vulnerable to losses, undermining confidence in the broader launchpad ecosystem. Launchpad platforms would need to adopt clearer qualification standards before listing projects, expand public round allocations, and introduce mechanisms that guarantee post-launch accountability.
Redesigning the Launchpad Era
Looking ahead, MEXC Research points to emerging token distribution models that could reshape the launchpad sector. These include:
- Fair Launches with Dynamic Pricing, using bonding curves while integrating better risk controls
- Contribution-Based Allocations, rewarding active ecosystem participation rather than staking capital
- CEX-Led Incubation, where exchanges provide not only token sales but also staking, liquidity support, and post-launch marketing
MEXC’s launchpad model is a working example of how launchpad platforms can offer performance and secruity without sacrificing fairness. The MEXC model is leading the march away from token sales and fundraising models to embracing the full-cycle project growth acceleration approach by providing post-launch marketing support, ecosystem integration, liquidity provision, and staking infrastructure for its listed projects.
As more launchpad platforms emerge and regulators take a closer look at token listings procedures, 2025 is shaping up to be a defining moment for how crypto projects are distributed and governed. MEXC’s findings suggest that a more transparent, inclusive, and performance-driven approach is not only possible but may be essential for the next wave of crypto adoption. For users, the report provides a roadmap to understanding where real opportunity exists. For DEX and CEX launchpad platforms, it offers a timely benchmark and a challenge to raise the bar.