Launchpad craze continues: high frequency overrecruitment, and the overall project still outperforms the zero point line

By Nancy, PANews

Original title: Four popular Launchpads compete for the new season: Oversubscriptions are frequent, and over 70% of projects are still positive

A new wave of TGE is accelerating, accompanied by the rapid rise of various innovative LaunchPad platforms. With unique mechanical design and diverse gameplay, these platforms provide investors with rich ways to participate, greatly invigorate the new ecosystem, and become a new outlet for retail investors to compete for money. As the new craze continues to heat up, there are many cases of high-value fund-raising, and participants are also receiving impressive returns several times or even tens of times higher.

In this article, PanNews will review the new data and project performance of 4 popular new LaunchPad platforms (Buidlpad, Legion, MetaDAO, Metaplex Genesis) for players' reference (note: since Echo has not disclosed detailed data to the outside world, it is not included in the scope of this statistic).

Overall, these platforms generally show characteristics such as high popularity, high first-day earnings, and strong fluctuations in a short period of time. Judging from the scale of participation, market capital and user sentiment are still highly active. Projects on the four major platforms have generally been oversubscribed, and the number of individual project participants on individual platforms has surpassed hundreds of thousands; judging from earnings performance, the short-term returns of starting new projects are impressive. TGE's average daily revenue was about 4.5 times. Among them, BuidlPad and Metadao performed particularly well. The average increase on the first day was over 500%, and some star projects have even recorded four-digit increases; currently, there has been no significant withdrawal of funds. Since the launch of all new projects, the average revenue has been about 190.8%. Of these, more than 70% of projects have maintained positive returns, and about 30% of the projects still have more than doubled their revenue.

Buidlpad

Buidlpad was launched in December 2024 and can be used by KYC compliant users in unrestricted regions. Its founder is Erick Zhang, managing partner of Nomad Capital. He was the director of Binance Research and was responsible for the Binance Lanuchpad platform.

Up to now, Buidlpad has launched 4 new projects. Judging from statistics, these projects are generally popular in the market, and the number of participants is over 100,000. Market popularity has also directly driven the project's subscription scale. The average oversubscription ratio is about 14.1 times. In particular, Falcon Finance's oversubscription ratio is as high as 28.2 times, setting a historical record for the Buidlpad platform.

Judging from TGE's return for the day, the average return of participants was about 563.3%, and the overall earnings performance was very impressive. Falcon Finance, in particular, had a return of 1557.1% for the day, far surpassing other projects. Other projects such as Solayer, Lombard, and Sahara AI are just as profitable in the short term.

Looking at the long-term timeline, the average return rate for these projects so far is 286.7%, which is mainly affected by the rising average of Falcon Finance's high yield, which has a short TGE cycle. With the exception of Falcon Finance, the long-term returns of other projects were significantly lower than TGE's daily earnings, but most remained positive.

Overall, Buidlpad's new projects are generally popular, and the short-term wealth effect is obvious, but long-term returns are more dependent on the project's own development and market cycle influence.

It is worth mentioning that BuidlPad recently launched a pre-TGE HODL staking campaign, and the first project is Momentum. The campaign aims to encourage users to earn high profits by providing liquidity, while increasing the qualifications and priorities for participating in new games on the Buidlpad platform, which also drives the TVL growth of the project.

Legion ✖️ Kraken

In September of this year, crypto exchange Kraken announced a partnership with IC0 platform Legion to launch a MICA-compliant token sales business on its newly launched Kraken Launch platform.

Legion has received $7 million through two rounds of financing, and investment institutions include VanEck, Coinbase Ventures, Kraken, Delphi Digital, and Alliance. The platform mainly assesses user eligibility through the “Legion Score” system, which covers it. Dimensions such as social influence, on-chain activity, and developer activity

YieldBasis is Legion's first collaboration with Kraken. In this sale, more than 67,000 people applied, but in the end, only 4,187 people were selected, accounting for about 7% of the total number of applicants. This also means that competition for new games is very intense. YieldBasis's subscription scale exceeds US$195 million, and the oversubscription is up to 98 times, showing the high level of enthusiasm and recognition of the project in the market, and setting the Legion platform's record for the most oversubscribed token sales to date.

Judging from earnings performance, TGE's average return on the first day was about 322.2%, and the overall return was very impressive; up to now, the total return rate has remained at 243.4%. This performance is related to the fact that the project has just been launched, and market popularity supports its strong performance in the secondary market.

MetaDAO

Metadao, the launchpad platform on Solana, has recently become popular. The platform received $2.2 million in funding led by Paradigm last year. Up to now, the cumulative amount of capital raised on MetaDAO is approximately US$9.88 million.

It is important to note that the MetaDAO community issued a proposal to “sell up to 2 million META at market price or premium”, including that Proph3T represents MetaDAO selling up to 2 million META at market price or premium. This portion of the token will be a newly minted token.

Up to now, MetaDAO has carried out many rounds of new activities. Judging from statistics, these projects have generally received market attention, but the scale of participation in different projects varies greatly. In terms of the number of participants, Umbra had the highest number, reaching 10,500, while OmniPair and MTN Capital had 321 and 1931 people, respectively. As can be seen from the data, MetaDAO's ability to reach users and mobilize the community has been significantly enhanced in the latest project, and the market coverage is gradually expanding.

Judging from the subscription scale and oversubscription situation, the popularity of the platform also continues to rise. The average oversubscription ratio for these projects is about 12 times, with Umbra oversubscribing up to 20.6 times, far exceeding other projects. This shows that the brand effects accumulated in early MetaDAO projects are being unleashed, and the financial appeal of new activities has increased markedly.

In terms of earnings performance, TGE's average return for the day was about 525.3%. This average was significantly boosted by Umbra's extremely high return of 1172.3%. The platform's strong growth potential for new projects has greatly increased MetaDAO's attention and discussion in the market.

However, looking at the longer cycle, project prices generally experienced a certain degree of correction after the popularity subsided. Since launch, the average return rate has been around 365.4%. Although it has settled down from TGE on the same day, the overall profit level has remained high. In particular, Omnipair's current reporting rate has reached 902.7%, which has raised the overall average significantly.

Next, Metadao has or is about to launch new activities for Avici, Royal, ZKLSOL, and Paystream projects.

Metaplex Genesis

Metaplex is Solana's decentralized NFT infrastructure. In 2022, the platform completed $46 million in strategic financing, with investment institutions including Multicoin Capital, Jump Crypto, Solana Ventures, and Samsung Next. In July of this year, Metaplex announced the launch of Genesis, an on-chain token issuance protocol.

Metaplex Genesis has launched a number of rounds of new campaigns, and has received widespread attention from the market as a whole. Judging from the speed of fundraising, most projects can complete their fund-raising goals within seconds to minutes. For example, Portals and Goated only took 11 seconds and 13 seconds to complete the subscription, respectively, and DeFiTuna only took 4 minutes, which shows the market's high willingness to participate.

Judging from the subscription scale, compared to other LaunchPads, Metaplex Genesis's projects are relatively modest in size, mostly in the millions of dollars. This shows that at this stage, the platform is still mainly developing new products on a small to medium scale.

In terms of earnings performance, TGE's average return rate for the day was 188.9%, mainly driven by Portals's high return rate of 531.1%. This not only brought significant returns to investors, but also significantly increased the platform's exposure. Looking at the longer cycle, the reporting rate has shown significant differentiation so far, with an average level of about 270.6%. Collector Crypt and Exotic Markets achieved solid returns of 270.6% and 90.8%, respectively, while Portals and Goated showed negative returns. Overall, Metaplex Genesis's short-term market appeal for new projects has strengthened its influence and community appeal.