As of July 28, 2025, Gate Launchpad’s third project, Ika (IKA), has entered a critical stage of the subscription phase. Since its launch at 13:00 (UTC+8) on July 26, total subscription volume has exceeded $318 million. The USD1 pool has attracted $220 million in subscriptions, while the GT pool has reached $98 million, reflecting growing market enthusiasm. The subscription will close at 13:00 (UTC+8) on July 29, with spot trading for the IKA/USD1 pair set to go live at 18:00 on the same day.
Subscription Mechanism and Rules: Dual-track Dynamic Game
- Dual Fund Pool Design: Users can participate in the subscription through USD1 or GT, with a total issuance of 200 million IKA. Among them:
- 80% pool share of USD1 (160 million IKA), fixed price is 1 IKA = 0.025 USD1;
- GT pool share 20% (40 million IKA), the price is dynamically calculated based on the average opening price of GT from July 24 to 26 (final pricing is 1 IKA = 0.001424 GT).
- Time Weight Allocation Rules: A "Hourly Snapshot + Proportional Allocation" mechanism is adopted: Tokens are allocated based on the proportion of the user’s locked amount each hour to the total pool amount, with earlier participation resulting in a higher share proportion. For example, if the investment in the first hour accounts for 10%, and the total amount in the pool expands by 100 times at the end, its proportion will be diluted to 0.1%.
- Quota and Unlocking
- Individual limit 2 million IKA (USD1 pool 1.6 million + GT pool 400,000);
- No lock-up period, 100% of tokens will be distributed within 4 hours after the subscription ends.
Technical Background: Cross-Chain Breakthrough of the Sui Ecosystem
Ika is positioned as the "fastest parallel MPC (Multi-Party Computation) network," built on the high-performance blockchain Sui, with key technological highlights including:
- Millisecond-level signing speed and 10,000 TPS processing capacity to address the pain points of cross-chain asset signing delays;
- Expand to hundreds of nodes, reducing the probability of single-point malicious behavior to nearly zero through the 2PC-MPC algorithm;
- Provide "second-level trustless channels" for 20 trillion USD cross-chain assets in the Sui ecosystem.
Token Economics: Total supply of 10 billion IKA, this Launchpad releases 2%.
Platform Evolution: Strategic Leap from PFVS to IKA
This issue of Gate Launchpad highlights three major innovations:
- Dual-track risk hedging: USD1 pool locks in costs, GT pool may create arbitrage opportunities due to price fluctuations;
- Scarcity Game: GT pool ratio compressed to 20%, referring to historical data (PUMP project GT pool yield 220% exceeding USD1 pool 150%), competition is more intense;
- Ecological Synergy: Launching exclusive financial products for Launchpad, participating users can enjoy:
- USD1 Flexible Financial Management 10% Additional Annualized;
- GT Flexible Wealth Management 15% Annualized;
- IKA subscription users receive an additional 5% USDT interest voucher.
Participation Path and Market Outlook
- Beginner-Friendly Activities: From now until August 1, new users who register and trade can share a 2000 GT reward pool, and the first order loss will receive a 100% subsidy.
- Trading Risk Warning
- Technical Uncertainty: The MPC network is in its early stages, facing challenges in development and operation;
- Market volatility: Based on the previous two projects, PFVS increased by 450% on the first day, PUMP reached 320%, and IKA may experience increased market volatility;
- Regulatory policies: The global compliance framework for crypto assets is dynamically changing, which may affect long-term development.
Conclusion: Countdown to the Landing of Key Puzzle Pieces in the Sui Ecosystem
As the subscription will conclude on July 29 at 13:00 (UTC+8), the performance of IKA’s spot trading will serve as a touchstone for evaluating the value of the Sui ecosystem’s MPC network. Gate Launchpad, through a dual-track system and time-weighted rules, incorporates early participants, GT holders, and stablecoin users into a dynamic game theory system, evolving the platform from a "project issuance channel" to a "cryptoeconomic experimental field." Investors should closely monitor the IKA/USD1 opening market at 18:00 on July 29 to seize the intersection of technical dividends and market sentiment.
