In 2025, token launchpads have re-emerged as crucial fundraising mechanisms amid market optimism. However, MEXC Research's report suggests that access remains inequitable.
Current Trends in Token Launches
The report examines performance data and user access structures across major centralized and decentralized launchpads from January to June 2025. Centralized exchanges (CEXs) continue to dominate token volume but often favor users with substantial investments or staked assets.
Comparing Centralized and Decentralized Platforms
MEXC led in volume with five token launches and an average peak return of 10.83x. Its fixed-allocation model avoids VIP tiers, enabling broader user participation. Meanwhile, Bybit secured the highest individual ROI of 14.71x on the Xterio launch, but access was limited to participants meeting high-stake criteria.
Issues and Approaches to Improving Access
Decentralized platforms like Pump.fun attract retail interest with open entry but lack control, leading to high volatility and fraud. MEXC Research warns that many token offerings resemble liquidity or marketing events rather than long-term ecosystem builders.
The token market is at a turning point. The report highlights the importance of developing alternative distribution models and ensuring greater access for fairer and more sustainable token launches.
