From ICO Fever to IEO Involution: Is This the End (or Rebirth) of the Launchpad?

Jun 24, 2025, 4:39 p.m.

When MEXC quietly rolled out its new Launchpad feature this past June 6th, the exchange knew that it had something special. In its inaugural two weeks, over 100,000 users had participated in four oversubscribed projects, with some reaching over 200x their funding targets. But beyond the numbers, MEXC might have tapped into something deeper: a shift in how token launches are structured and who they’re really for.

In a market where token offerings have gradually tilted toward institutional players and insiders, MEXC’s new approach attempts to correct the imbalance. By blending accessibility with strong returns, and fairness with flexibility, the Launchpad might be more than a product. It could be the beginning of a new phase in crypto fundraising.

From ICO to IEO: A Brief History of the Launchpad “Involution”

To understand the significance of what MEXC is doing, it’s worth revisiting the last several years of project fundraising. The ICO boom of 2017 promised democratized investing; anyone with a wallet and some ETH could participate in a project’s early days. But without oversight, scams flourished, and investor trust eroded.

In response, centralized exchanges launched the first IEOs (Initial Exchange Offerings) in 2019. These brought vetting and execution under the umbrella of reputable exchanges. But new barriers emerged: limited allocations, high entry thresholds, and a tendency for whales to dominate the process.

Later, lottery-style IEOs emerged to broaden access but they often introduced more luck than logic, turning token launches into glorified raffles. Over time, the excitement surrounding new launches gave way to frustration. Participation became confusing, outcomes opaque, and the sense of community and fairness, once a hallmark of the crypto ethos, was lost.

MEXC’s new feature seeks to reverse this “involution” that has taken place.

The MEXC Launchpad: A Dual-Pronged Reset

MEXC’s Launchpad isn’t just another IEO platform. It’s an intentional reset, designed to offer two distinct value paths.

On one side, it offers early access to promising, curated projects like IDOL and BEE, with two to three new launches each week and historical post-listing returns in the 5x to 8x range. On the other, it caters to more conservative users by offering discounted access to blue-chip tokens like Bitcoin, sometimes at up to 90% off market prices, effectively giving participants a second chance at 2017-era valuations.

Together, these two streams speak to both sides of the trading community. That is, the risk-tolerant early adopter, and the long-term investor looking for value.

How It Works: Accessible, Transparent, and Fair

Launchpad simplifies token subscriptions while promoting equitable access, making it refreshingly accessible when token launches are usually overly complicated or engulfed by whales. After standard KYC verification, users can explore the available Launchpad events through the platform’s event page.

Participation involves subscribing to token sales using supported currencies (such as MX, USDT, etc.) or other eligible assets. The process avoids convoluted barriers. There are no arcane staking requirements or loyalty tiers to navigate. Instead, users need to complete a few basic tasks, such as depositing funds or executing trades, in order to become eligible for a given event.

What sets MEXC apart is its proportional distribution model. Rather than relying on a lottery or first-come-first-served mechanism, the Launchpad ensures that each qualifying participant receives tokens in direct proportion to the amount they commit. This guarantees that smaller investors aren’t sidelined by larger players, and everyone knows exactly what they’re getting into.

If an event is oversubscribed, the system adjusts allocations proportionally, and any unused funds are automatically returned to users, typically within 24 hours. In the case of under-subscription, users receive their full allocation based on their committed amount.

The result is a launch experience that feels fair, intuitive, and genuinely accessible to everyone.

Launchpad vs. Launchpool: What’s the Difference?

While both MEXC Launchpad and Launchpool offer users opportunities to acquire new tokens, they serve fundamentally different purposes and cater to distinct trading strategies.

The new Launchpad, as we’ve explored, focuses on providing early access to tokens through time-limited subscription events. It’s geared toward traders who want to get in on the ground floor of high-potential projects, or purchase well-established tokens at steep discounts.

Launchpool, by contrast, lets users stake existing assets like MX or USDT into reward pools, earning new tokens passively over time.

Both paths are valuable but which one fits best depends on the user’s appetite for risk and preferred strategy.

MEXC vs. the Competition: The Edge Is in the Model

In a crowded field of centralized exchanges offering token launch products, MEXC’s Launchpad stands out not by being louder but by being smarter in its design. While major platforms like Binance, OKX, and KuCoin have long operated launchpads of their own, they often come with steep participation barriers. Users may need to hold or stake large amounts of native tokens for extended periods just to qualify, and lotteries or randomized draws can make outcomes feel arbitrary or outright inaccessible.

MEXC flips the typical launchpad model on its head, favoring equity and accessibility over gatekeeping and exclusivity. Its Launchpad prioritizes frequency, fairness, and ease of use. New token events are held regularly, compared to the monthly cadence seen on other platforms. This not only keeps engagement high but also increases opportunities for retail traders to find projects that match their interests.

Where others rely on lottery systems or tiered allocation models that favor large holders, MEXC offers proportional distribution. This levels the playing field, giving smaller investors a real chance to participate meaningfully. The platform also skips the complex requirements and lock-in periods that characterize many competitor launchpads, instead making qualification as simple as completing a few accessible tasks.

Perhaps the most compelling edge, however, lies in MEXC’s discount subsidy model. By offering significant markdowns, even on major assets like Bitcoin, the exchange is actively transferring value back to users rather than extracting it. Not just a gimmick, it’s a structural advantage that directly impacts user outcomes.

This makes MEXC a rare outlier. One that puts user benefit at the center of its strategy.

Breaking the Incentive Loop

At the heart of MEXC’s approach is a radical idea: give more back to users.

The current Launchpad paradigm is broken by design. Project teams, whales, and exchanges tend to capture most of the upside, leaving retail investors with leftovers. And that’s if they’re lucky. This has led to growing disillusionment and a “why bother” attitude among many traders.

MEXC’s model reframes the relationship. The platform gives up part of its margin (via discounting) to attract and reward real users. This approach does more than just boost signups, as it helps re-establish trust in the token launch process.

If involution is a race to the bottom, MEXC is trying to opt out of the race entirely.

Real Results: What the Data Says

It’s not just theory. Early results are already validating the model:

IDOL: Over 15,000 registrants, 157x oversubscription, and $1.57M raised.
SGC: Nearly 15,000 registrants, 207x oversubscription, and 2.07M raised.
BEE: Nearly 15,000 registrants, 209.5x oversubscription, and more than $4.19M raised.
BTC: Over 90,000 participants (28K of them successful), 4.1x oversubscription, and $3.3M raised.

In just two weeks, four Launchpad events brought in eight-figure total fundraising, showing strong demand from both projects and users.

Launchpads Aren’t Dead; They’re Being Rebuilt

The term “Launchpad” has become synonymous with fatigue, gatekeeping, and missed opportunity. But MEXC’s latest move suggests the model still has life… If it evolves.

By restoring fairness, reducing complexity, and giving real value back to its users, MEXC isn’t just launching tokens. It’s relaunching the idea of what token access should look like in 2025 and beyond.

In a space often dominated by insiders and algorithms, this return to user-first thinking might be exactly what crypto needs.