In May 2025, the relaunched Gate Launchpad kicked off with a bang featuring Puffverse (PFVS): 10 million tokens saw a 450% increase on the first day, with a subscription amount of 656 million USD, oversubscribed by 938 times, attracting over 35,000 users to participate.
Two months later, the PUMP project switched strategies, using 2.5 billion high liquidity design to verify durability, with an average daily trading volume stable at 120 million USD.
The real qualitative change occurred in July. The Ika (IKA) project first introduced a dual-track subscription mechanism with USD1 and GT, allocating 80% of the quota to the stablecoin pool and leaving 20% for the platform currency.
This design triggered a migration of 196 million USD1 in funds, driving Gate’s USD1 holdings to surge by 170 million USD within 72 hours, ranking second among global centralized exchanges, only behind Binance.
Mechanism Revolution, Dual-Track Experiment and the Evolution of Distribution Justice
The core competitiveness of the Launchpad lies in the continuous iteration of the asset allocation mechanism. Gate has demonstrated a clear evolutionary trajectory in its three issuances in 2025.
- Dual-track subscription: The IKA project adopts a dual-pool design for the first time, with USD1 (80%) and GT (20%). The USD1 pool provides price stability, avoiding the volatility risk of GT; while the GT pool retains arbitrage space.
Market reactions validate its foresight: the final subscription ratio reached 196 million USD1 to 5.13 million GT, approaching a 4:1 capital ratio, revealing the market’s strong risk aversion preference. - Time Value Financialization: IKA adopts the "Hourly Snapshot + Proportional Distribution" rule, where the system calculates the proportion of token distribution based on the average locked amount per hour for users, making it clear that "the earlier you participate, the higher the returns."
This design gives financial value to the time dimension, but also raises higher requirements for institutions’ multi-account strategies, pushing the distribution rules to favor real early participants. - Comparative experimental design: From the 10 million small-scale high-explosion design of PFVS to the 2.5 billion high-throughput path of PUMP, Gate has verified the adaptability of different issuance models, laying the foundation for subsequent mechanism combination innovation.
Stablecoin strategy upgrade, from trading tool to capital pool war
The IKA subscription event reveals a fundamental shift in the competitive logic of exchanges: stablecoins are upgrading from a pricing tool to a strategic asset for exchanges.
When IKA launches its subscription, USD1 worth 170 million will flow into Gate’s hot wallet via the BSC chain, and this deposited capital essentially constitutes a "zero-cost fund pool." During the lock-up period before the project’s launch, the exchange can freely allocate these funds:
- Provide depth for spot trading pairs (BTC/USD1 spread narrowed to 0.1%)
- Support for collateral in lending services
- Conduct short-term arbitrage operations
Glassnode predicts that by 2026, the total holdings of exchange stablecoins will exceed 200 billion USD. Gate’s stablecoin entry design through Launchpad has attracted nearly 200 million USD1 for a single project, validating the new paradigm that "the size of the fund pool is the competitiveness."
Ecological synergy, the flywheel effect of Launchpad accelerates
The success of the Launchpad is not an isolated phenomenon, but rather a strong synergy formed with the overall Gate ecosystem, driving multidimensional growth of users, assets, and businesses.
User and asset expansion: Within three months of the Launchpad relaunch, Gate Alpha launched nearly a thousand on-chain assets, attracting hundreds of thousands of trading users; P2P business coverage expanded to 80 countries with over 50 fiat currencies, and payment channels exceeded 450 types, with a month-on-month conversion rate increase of 5.7%.
The Rise of Institutional Business: The number of institutional users has increased by 27% month-on-month, contract trading volume has risen by 33.59%, with an excess reserve ratio of 23.09% and 100% asset transparency verified by zero-knowledge proofs, becoming the core leverage to attract professional funds.
As of August 11, 2025, the user base of Gate exchange has exceeded 34 million, and its market share has jumped to the second place globally, with total reserves valued at 10.453 billion dollars. The formation of this growth flywheel is a direct reflection of the ecological synergy value.
Global compliance infrastructure, an expanding invisible pillar
Behind mechanism innovation and ecological synergy, compliance layout constitutes the underlying support for Gate’s growth.
In Q2 2025, the platform obtained the Dubai VASP license, successfully incorporating the Middle East into its compliance service network. As a result, its global compliance map now covers more than 10 countries and regions, including Lithuania and Japan.
The upgrade of the risk control system further strengthens the foundation of trust. The platform’s anti-money laundering mechanism has been certified by international authoritative institutions. Against the backdrop of tightening regulations in various countries, such compliance qualifications have become a key differentiating advantage for Launchpad to attract traditional capital.
Global brand activities are advancing synchronously: co-releasing an NFT series with the F1 Red Bull Racing team, holding the 12th anniversary celebration of the SPORT3 Sports Carnival in Dubai, and the 7th World Cryptocurrency Trading Contest (WCTC S7) attracting over 110,000 participants.
These measures send clear signals about the emerging market strategy, especially the user growth in the Middle East will become the core engine in the future.
The future threefold evolution direction, the paradigm innovation of encryption infrastructure
Based on the current trajectory, the evolutionary direction of Gate Launchpad is clearly discernible:
Mechanism Refinement: A dual-track system may become a standard feature of the platform, and time-weighted distribution rules will be further optimized, such as introducing more asset types (e.g., LST) or dynamically adjusting ratios.
Stablecoin Ecologization: USD1 will expand from a subscription tool to a base currency within the ecosystem, covering scenarios such as trading pairs, lending collateral, and derivatives margin, forming a closed-loop financial system.
Global Compliance Deepening: Relying on existing licenses in more than 10 countries, focusing on expanding into incremental markets such as the Middle East and Southeast Asia, while simultaneously promoting licensing and localized operations.
At the industry level, Gate is reconstructing the value logic of its Launchpad. While most exchanges still regard platform tokens as the sole subscription certificate, Gate’s "stablecoin + platform token" dual-track system has opened up a new path.
This model not only alleviates the sell pressure risk of GT but also enhances the capital strength of the exchange through the stablecoin pool, which may trigger a wave of imitation in the industry.
Future Outlook
The logic of the exchange war has been rewritten. When Binance scaled back its Launchpad business, Gate transformed a token issuance into a capital migration of $196 million through a dual-track system, propelling its USD1 holdings to the second largest in the world.
Latest data shows that as of August 12, the number of Gate users has exceeded 34 million, with a total reserve value of 10.453 billion USD and an excess reserve ratio of 23.09%.
The future belongs to visionaries who transform stablecoins from speculative tools into financial infrastructure. As the compliance network covers more than 10 countries, this platform with over 34 million users has quietly built a real moat.
