A new round of token issuance is here, 10 Launchpads worth paying attention to
Break down project features and share new gameplay.Author: viee, Core Contributor of Biteye
In this round of the bull market, the threshold for issuing tokens has been completely broken. From Meme coins to AI Agents, even Pre-IPO stocks can be issued.
We selected 10 representative platforms, dissected their unique mechanisms and yield performances, and discussed how retail investors can seize opportunities while avoiding pitfalls. 👇
1/12 ⭐️ Permissionless token issuance platforms
The so-called "permissionless" means anyone can issue tokens. The advantage is a low threshold, while the downside is the varying quality of projects.
@heavendex
Mechanism: Heaven is a newly emerging AMM + Launchpad platform that integrates token issuance and trading, allowing tokens to remain on the platform without migrating to external DEXs. All transaction fees stay on the platform, used for repurchasing and burning $LIGHT, allowing holders to directly share in the profits. In contrast, while Pump.fun is profitable, it lacks this feedback mechanism.
Yield performance: After $LIGHT was launched, it rose continuously for a week, with a market cap exceeding $100 million. The ongoing repurchase and burn mechanism greatly enhanced market confidence.
2/12 ⭐️ @zora
Mechanism: Zora is a social + creator economy protocol on the Base chain, where the core gameplay is that issuing content = issuing tokens. When you post a text or image, it automatically generates an ERC-20 "content token," with a total supply of 1 billion, and the author can receive 1% as a reward. However, to issue or trade content tokens, you must first hold ZORA tokens.
Yield performance: $ZORA once surged 10 times over 20 consecutive days. There were also some crazy tokens; for example, in April this year, the official Coinbase Base chain account posted "Base is for everyone," which was automatically minted into a token. Many thought it was an official token issuance, leading to a rush that inflated the market cap to $17 million, only to quickly drop back by 90%.
3/12 ⭐️ @believeapp
Mechanism: Believe was originally Clout, which first played with "celebrity token issuance" but later shifted to social assetization, popularizing the ICM narrative. Users only need to tweet with @launchcoin to automatically generate tokens. Once the market cap exceeds $100,000, it will automatically list on trading platforms like Meteora.
Yield performance: The platform token $LAUNCHCOIN surged 50 times in just 3 days, reaching a market cap of $300 million. The previous token $PASTERNAK was close to zero but surged from $1 million to $22 million within 24 hours after rebranding. Many platform projects have also provided retail investors with opportunities exceeding tenfold.
4/12 ⭐️ @pumpdotfun
Mechanism: Pump.fun is considered the pioneer of the on-chain token issuance trend, directly exploding the rapid issuance gameplay of Meme coins. By uploading a name, logo, and description, you can automatically generate contracts and initial liquidity pools. The pricing uses a joint curve model, where the more people buy, the higher the price. When the market cap reaches a specified threshold, the smart contract will automatically migrate liquidity to external DEXs, seamlessly connecting to a larger market.
Yield performance: As the leading permissionless token issuance platform, Pump.fun has birthed numerous well-known Meme projects, which need not be elaborated further.
5/12 ⭐️ @bonk_fun
Mechanism: The BONK community launched its token issuance platform in April 2025, with gameplay similar to Pump.fun but emphasizing community dividends. A portion of the transaction fees is returned to BONK holders and ecosystem builders, strengthening community incentives.
Yield performance: The popular cat $HOSICO (peak market cap of $60 million, 6 times increase), $USELESS (peak market cap close to $300 million, over 10 times increase). Overall, projects supported by the community are more likely to break through.
6/12 ⭐️ @virtuals_io
Mechanism: Virtuals focuses on the AI Agent track, requiring users to lock $VIRTUAL to create Agents and build pools. Once the joint curve threshold is reached, they can "graduate," generating liquidity pools paired with $VIRTUAL.
Yield performance: After the initial hype faded, the Genesis Launch reignited the market, with $VIRTUAL rebounding by 150% in a week, and ecosystem tokens following suit. The new project $BasisOS reached a market cap of $5.5 million within 12 days, with a peak increase of 40 times.
7/12 ⭐️ Permissioned token issuance platforms
Unlike "permissionless token issuance," these Launchpads strictly screen projects, prioritizing quality.
@echodotxyz
Mechanism: Echo can be understood as "an on-chain version of an angel investment alliance." The gameplay involves a lead investor initiating an investment group, sharing project opportunities with the group, and everyone co-investing, with the lead investor taking a share of the profits. Echo requires users to undergo KYC verification through email, wallets, Twitter accounts, etc., making it more of a small circle.
Yield performance: Echo has facilitated financing for some popular projects, such as Ethena, Morph, Usual, Hyperlane, etc. After private placements, project development has been relatively stable.
8/12 ⭐️ @buidlpad
Mechanism: Buidlpad is a public fundraising platform launched by former Binance executive Erick Zhang at the end of 2024, positioned somewhat like a "common people's ICO." Unlike Echo's small circle private placements, Buidlpad strictly requires KYC but is more aimed at the public. In January this year, it launched its first project—the public offering of Solayer's LAYER token.
Yield performance: Solayer over-raised by 5 times, with a 240% increase on TGE day; Sahara over-raised by 8 times, also increasing by 120% on TGE day. Next, @Lombard_Finance will also start community round pre-sales on Buidlpad.
9/12 ⭐️ @KaitoAI
Mechanism: In July, the Kaito team announced the launch of Capital Launchpad, similar to Echo's on-chain angel investment platform, but the distribution method is based on on-chain holdings, social reputation, and other indicators rather than speed.
Yield performance: The first project Espresso has a valuation of 400 million. The second project Theoriq has a valuation of 75 million.
10/12 ⭐️ @ventuals_
Mechanism: Ventuals allows ordinary users to participate in Pre-IPO, but instead of issuing real stocks, it issues perpetual synthetic assets that track company valuations. It is based on Hyperliquid's HIP-3 standard, turning equity in unlisted companies into on-chain derivatives, trading like "shadow stocks." In contrast, PreStocks and Jarsy represent real stock tokenization, where each token corresponds to real shares, more closely aligned with traditional securities models.
Yield performance: As of August 20, Ventuals projects have seen 24-hour increases ranging from 5% to 30%.
11/12 ⭐️ Launchpad Moat: Competing on Fairness, Thresholds, or Ecosystem?
From the previous cases, it can be seen that Launchpad platforms are almost always "one version, one god," relying on two points: creating differentiated assets and keeping traffic on the platform. On this basis, several dimensions are particularly critical:
Fairness: Heaven binds user and platform interests through repurchase and burn, while if controlled by bots and insider trading, the retail experience will collapse.
Threshold: Echo's invitation system creates small circle barriers, while Believe leverages social network effects to attract people, making these hard to replicate.
Project resources: Platforms that can continuously attract good projects will form a "stronger strong" dynamic.
Model innovation: Heaven's integration, Zora's content tokens, and Believe's social triggers all represent first-mover advantages.
12/12 ⭐️ Retail Investor Strategy: How to Seize Launchpad Opportunities Without Getting Buried?
First, consider your preferences: If you like high-risk speculation, you can play on permissionless platforms, where small funds may yield dozens of times; if you want stability, choose permissioned platforms, where project quality is more guaranteed.
Control your position: Don’t go all in; high-risk positions should ideally not exceed 10%-20% of total funds, as most new coins will eventually go to zero.
Follow market rhythms: Meme, AI, Heaven, and Zora are rotating hotspots; when a platform suddenly becomes popular, there is often a short-term opportunity.
⚠️ Risk Warning: For reference only, not investment advice.
Risk warning Risk warning
