In 2025, Gate Launchpad restarted with a strong posture, quickly becoming the core innovation engine of the cryptocurrency asset issuance market. From the launch of the project Puffverse (PFVS) in May, which achieved a 450% first-day increase and a subscription amount of $656 million (over-subscribed by 938 times), to the third phase project Ika (IKA) in July, which adopted a dual-track subscription mechanism with USD1 and GT, triggering a capital migration of $196 million, each of its innovations is reshaping the competitive logic of the industry.
As of August 7, 2025, the number of users on the Gate exchange has surpassed 33 million, with a market share ranking second globally, and total reserves reaching $10.453 billion (an excess reserve ratio of 23.09%). On this solid foundation, Gate Launchpad is constructing the future landscape of encryption economic infrastructure through a triple strategy of mechanism revolution, ecological collaboration, and compliant expansion.
Mechanism Revolution, Dual-Track Experiment and Time Value Financialization
The core competitiveness of Launchpad lies in the continuous iteration of the asset allocation mechanism. The issuance of Gate’s third phase project in 2025 presents a clear evolutionary trajectory, with each step precisely addressing the pain points of market demand.
The PFVS project adopts a small-scale high-explosion model, with a total of 10 million tokens and a unit price of 0.07 USDT, attracting 35,553 participants, validating the feasibility of a "retail-friendly" design. Two months later, the PUMP project switched strategies, with a total of 2.5 billion tokens and an ultra-low unit price of 0.004 USDT, creating an industry record of 306 times oversubscription, proving the enduring vitality of high circulation projects.
The real qualitative change occurs in the third phase of the IKA project. Gate introduces the dual-track subscription mechanism of USD1 and GT for the first time, with 80% of the quota allocated to the stablecoin USD1 and only 20% reserved for the platform token GT. This design achieves a precise diversion of risk preferences:
- USD1 pool provides price certainty, avoiding GT price volatility risk
- GT pool retains arbitrage space (if GT price drops, dynamic pricing may significantly reduce costs)
The market reaction validates the foresight of this mechanism: the final subscription ratio reached 196 million USD1: 5.13 million GT, approaching a funding ratio of 4:1, revealing the current market’s strong risk aversion instinct.
Another breakthrough is the "Hourly Snapshot + Proportional Distribution" rule. The system calculates the proportion of tokens allocated based on the user’s average locked amount per hour, clearly emphasizing that "the earlier you subscribe, the higher the returns." This design endows the time dimension with financial value, but also raises higher requirements for institutions’ multi-account strategies, pushing the distribution rules to tilt towards genuine early participants.
Stablecoin Strategy: From Trading Tool to Nuclear Weapon of Liquidity War
The IKA subscription event reveals a fundamental shift in the competitive logic of exchanges: stablecoins are evolving from a pricing tool to a strategic asset for exchanges. This transformation encompasses two profound changes:
Within 72 hours after the subscription starts, USD1 worth 170 million dollars flowed into Gate’s hot wallet via the BSC chain, pushing its total USD1 holdings to the second place globally, second only to Binance. This deposited capital essentially constitutes a "zero-cost fund pool," which the exchange can freely allocate during the lock-up period before the project goes live:
- Provide depth for spot trading pairs (BTC/USD1 spread narrows to 0.1%)
- Support for collateral in lending business
- perform short-term arbitrage operations
Equivalent to obtaining an interest-free loan.
Glassnode predicts that by 2026, the total amount of stablecoins held by exchanges will exceed 200 billion USD. Gate’s design for the stablecoin entry through Launchpad, which attracted nearly 200 million USD1 for a single project, validates the new paradigm that "the size of the capital pool equals competitiveness," forcing the industry to shift from competition in trading volume to building deep liquidity.
Ecological synergy, building a growth flywheel effect
The success of the Launchpad is by no means an isolated phenomenon, but rather a strong synergy formed with the overall Gate ecosystem, creating a multiplier effect across multiple dimensions.
While the IKA subscription has triggered a major migration of stablecoins, multiple businesses within the Gate ecosystem are simultaneously experiencing explosive growth:
- Gate Alpha (formerly MemeBox) has launched nearly a thousand on-chain assets, attracting hundreds of thousands of trading users.
- Gate P2P business coverage has expanded to 80 countries with over 50 fiat currencies, and payment channels exceed 450 types, with a month-on-month increase in transaction conversion rate of 5.7%.
- The number of institutional business users has increased by 27% month-on-month, and contract trading volume has risen by 33.59%.
The expansion on the asset side is equally rapid. The number of new coins launched on the platform increased by 65% compared to the previous period, while the Launchpad has become a natural testing ground for project selection—from PFVS’s 3D metaverse game ecosystem to IKA’s "fastest parallel MPC network" technology narrative, diversified high-quality assets continue to enrich the exchange’s shelves.
User growth and asset expansion create a positive cycle. As of August 7, the total number of users on Gate exceeded 33 million, with total reserves reaching 10.453 billion USD and an excess reserve rate of 23.09%. The use of zero-knowledge proof technology ensures that user assets are 100% verifiable. This data builds the core competitiveness to attract institutional funds.
Compliance and globalization, the dual engines of future expansion
Behind mechanism innovation and ecological synergy, compliance layout constitutes a key infrastructure support.
In Q2 2025, Gate obtained the VASP license in Dubai, successfully incorporating the Middle East into its compliance service network. Thus, its global compliance landscape now covers more than 10 countries and regions, including Lithuania and Japan, laying the foundation for global user access to the Launchpad.
The upgrade of the risk control system further strengthens the cornerstone of trust. The platform’s anti-money laundering mechanism has been certified by international authoritative organizations. In the context of tightening regulations in various countries, such compliance qualifications will become a key differential advantage for the Launchpad to attract traditional capital.
Global brand activities are advancing simultaneously:
- Collaborating with the F1 Red Bull Racing Team to issue an NFT series, with a minting quantity exceeding 2 million pieces
- Hosting the 12th anniversary celebration of the SPORT3 Sports Carnival in Dubai
- The 7th World Cryptocurrency Trading Competition (WCTC S7) attracted over 110,000 participants
These measures send clear signals of a new emerging market strategy, especially user growth in the Middle East will become a core engine in the future.
Future vision, paradigm innovation of encryption economic infrastructure
Looking ahead to the second half of 2025 and beyond, the evolutionary direction of Gate Launchpad has begun to take shape.
The dual-track subscription mechanism may become a standard feature of the platform, while the time-weighted distribution rules will more finely balance the interests of large and small investors. As the strategic value of stablecoins becomes more prominent, the application scenarios of USD1 within the ecosystem will continue to expand—from trading pair benchmarks to lending collateral, ultimately forming a closed-loop financial ecosystem.
At the industry level, Gate is restructuring the value logic of its Launchpad. While most exchanges still regard platform tokens as the only subscription certificate, Gate’s dual-track system of "stablecoin + platform token" has opened up a new path. This model not only alleviates the selling pressure risk of GT but also enhances the exchange’s financial strength through the stablecoin pool, potentially triggering a wave of imitation in the industry.
The more profound impact lies in the reconstruction of industry standards. As blockchain analyst Yu Jin said, "The war of exchanges has shifted from a competition in trading volume to a contest of capital pool size." In this battleground without gunpowder, Gate’s breakthrough this time has written a new footnote for industry competition.
The logic of the exchange wars is being rewritten by Gate. As platforms like Binance retract their Launchpad business, Gate transforms a regular token issuance into a $196 million capital migration through its dual-track mechanism and stablecoin strategy, single-handedly propelling its USD1 holdings to the second largest in the world.
The future belongs to visionaries who transform stablecoins from speculative tools into financial infrastructure. With Gate’s compliant network covering over 10 countries and regions, an excess reserve ratio with a total reserve value of 10.453 billion dollars, and a continuously iterating issuance mechanism, this platform, which has over 33 million users, is building a real moat.
