Analysis of the Gate Launchpad Mechanism: The Innovation Engine in the $4.2 Trillion Bull Run

On August 14, 2025, Bitcoin broke through $124,400, and the total market capitalization of Crypto Assets surged to a historic high of $4.26 trillion. In this capital feast, Gate Launchpad has strongly positioned itself with innovative mechanisms: since its restart in May, the three major projects it has issued, PFVS, PUMP, and IKA, have averaged an oversubscription of 434 times, with the highest increase on the first day reaching 450%, and each project attracting over $348 million, becoming the core asset issuance engine in this bull run.

##Mechanism Revolution: The Precise Design of the Dual-Track System and Financialization of Time Value The core competitiveness of the Launchpad lies in the continuous evolution of the allocation mechanism. Gate achieved a triple breakthrough in three issuances in 2025:

1. Dual-track risk diversion: The IKA project first adopts a dual-pool design of USD1 (80%) + GT (20%). The USD1 pool avoids the price fluctuation risk of GT, providing stability; the GT pool retains arbitrage space (if GT drops, it can reduce subscription costs). The market casts a hedging preference vote with a subscription ratio of 228 million USD1 : 6.59 million GT (nearly 4 : 1).
2. Time Dimension Financialization: Breaking the traditional lottery model, IKA introduces the "Hourly Snapshot + Proportional Distribution" rule - distributing tokens based on the average locked-up share of users per hour, clearly stating that "the earlier you participate, the higher the returns." This move transforms time into a financial variable, suppressing institutional multi-account strategies and leaning towards genuine early participants.
3. Issuance model comparison experiment:

• PFVS (small volume high explosion): supply of 10 million coins, achieved a 450% first-day rise, attracting 35,553 retail investors.
• PUMP (High Circulation Durability): 2.5 billion supply, reaching 306 times oversubscription, with an average daily trading volume of 120 million USD

##Ecological Synergy: The Growth Flywheel of Users, Assets, and Institutional Business The explosive drive of Launchpad forms a closed-loop synergy for the entire Gate ecosystem:

• User and asset expansion: Within three months of the restart, Gate Alpha has launched nearly a thousand on-chain assets, P2P business covers 80 countries with over 50 fiat currencies, and payment channels exceed 450 types, with a month-on-month conversion rate increase of 5.7%.
• Rise of institutional business: The number of institutional users increased by 27% month-on-month, and contract trading volume rose by 33.59%. The total value of platform reserves is $10.453 billion (excess reserve rate of 23.09%) and 100% asset transparency verified by zero-knowledge proof, becoming the core leverage to attract professional funds.
• Product Innovation Linkage: The "Dual Income Plan" launched on August 12 allows users to automatically transfer their staked BTC, ETH, GT, or USDT in Launchpool to a fixed-term account in Yubi Treasure, earning airdrop rewards and up to 4% annualized returns.

As of August 15, Gate's global user base has exceeded 34 million, with its market share jumping to second place globally, confirming that the ecological flywheel effect has taken shape.

##Compliance and the Future: The Ecologization of Stablecoins and Positioning in the Global Incremental Market At the underlying level of mechanism innovation, compliance forms an invisible pillar of growth:

• License network covers more than 10 countries: In Q2 2025, obtained Dubai VASP license, incorporating the Middle East into the service network, while simultaneously advancing compliance layout in regions such as Lithuania and Japan.
• Stablecoin strategy upgrade: IKA subscription triggered a migration of $196 million USD1 funds, pushing Gate's USD1 holdings to become the second largest among global exchanges. In the future, USD1 will upgrade from a subscription tool to an ecological base currency, covering trading pairs (BTC/USD1 spread narrowed to 0.1%), lending collateral, and other scenarios.

The three major evolutionary directions for the future are clear:

1. Mechanism refinement: The dual-track system or upgrade to multi-asset dynamic allocation (such as introducing LST), with time-weighted rules to enhance returns based on the length of the lock-up period.
2. Stablecoin closed-loop ecosystem: Relying on Glassnode's prediction that the exchange stablecoin holdings will exceed $200 billion by 2026, we aim to build a closed financial loop of trading - staking - derivatives.
3. Deepening in emerging markets: Using the Middle East compliance license as a leverage point, combined with localized operations (such as the Dubai SPORT 3 Carnival attracting 110,000 users), to leverage incremental funds.

##Conclusion: Restructuring the Competition Logic of the Crypto Assets Issuance Market As traditional exchanges shrink their Launchpad businesses, Gate breaks through with a single-point mechanism: absorbing stablecoins at the level of 200 million USD for a single project, driving a 44% month-on-month surge in derivatives trading volume (reaching 374 billion USD). Its essence is to transform stablecoins from speculative tools into infrastructure. With an ecological foundation of 34 million users and tens of billions in reserves, Gate Launchpad builds a true moat for the crypto economy with a triple engine of mechanism revolution × ecological synergy × compliant expansion—here, every innovation in token allocation reshapes the global map of capital flow.