In May 2025, the long-dormant Gate Launchpad made a shocking comeback with the Puffverse (PFVS) project: 10 million tokens recorded a 450% increase on the first day, with a subscription amount of 656 million dollars oversubscribed by 938 times, attracting over 35,000 users to participate.
Two months later, the Ika (IKA) project introduced a dual-track subscription mechanism with USD1 and GT, triggering a migration of $196 million in stablecoin funds, which propelled Gate’s USD1 holdings to surge by $170 million within 72 hours, ranking second among global centralized exchanges.
Revolution in mechanisms, dual breakthrough in capital allocation paradigms
While most exchanges still adhere to a single platform token subscription model, Gate Launchpad has completed a triple evolution of its distribution mechanism in three issuances in 2025.
In July 2025, the IKA project adopted a dual-pool design for the first time with USD1 (80%) and GT (20%), and the market response revealed a profound risk aversion preference. The final subscription amount reached 228 million USD1 and 6.59 million GT, approaching a 4:1 funding ratio.
This design not only avoids GT price Volatility risk further upgrades stablecoins from trading tools to strategic assets. When a large amount of USD1 flows into the Gate hot wallet, it effectively forms a "zero-cost capital pool," allowing the exchange to freely allocate resources to enhance spot liquidity or support lending operations.
In terms of time dimension, IKA’s "hourly snapshot + proportional allocation" rule brings another layer of innovation. The system calculates the proportion of the average locked amount of users per hour to allocate tokens, financializing time value and pushing the allocation towards real early participants.
The early projects PFVS and PUMP serve as a stark contrast: the former achieved a high explosion with a small volume of 10 million tokens, while the latter validated its persistence with a high circulation of 2.5 billion tokens, maintaining a daily trading volume stable at 120 million dollars.
Stablecoin Strategy, the Ultimate Weapon in the Exchange Capital Pool War
The IKA subscription event marks a fundamental shift in the competitive logic of exchanges - stablecoins have officially become a core strategic asset.
Glassnode predicts that the total holdings of exchange stablecoins will exceed 200 billion USD by 2026. Gate has verified the new paradigm of "pool size equals competitiveness" by raising nearly 200 million USD1 through a single Launchpad.
These deposited funds can serve three functions during the lock-up period before the project’s launch:
- Tightening transaction spreads: The BTC/USD1 spread has narrowed to 0.1%, significantly enhancing the spot trading experience.
- Support for loan collateral: providing institutional clients with more flexible leverage tools.
- Short-term arbitrage operations: enhance the utilization rate of the exchange’s own funds.
With BTC breaking through $123,000 and ETH reaching a high of $4,700 on August 14, the strategic position of stablecoins has become even more prominent. In an environment of increased market volatility, investors are more inclined to participate in new asset issuances through stablecoin pools, seeking a balance between risk and return.
Ecological synergy, Launchpad-driven growth wheel
The success of the Launchpad is by no means an isolated phenomenon, but rather a result of the strong synergy formed with the overall Gate ecosystem, driving comprehensive growth in users, assets, and business.
User and asset data show an explosive curve:
- The exchange’s user base has surpassed 34 million, with a market share rising to second globally.
- Total reserves have reached $10.453 billion, with an excess reserve ratio of 23.09%.
- Nearly a thousand on-chain assets have been launched on Gate Alpha, with the number of new coins increasing by 65% month-on-month.
The synergy of business collaboration is also significant:
- P2P business coverage has expanded to 80 countries and 50+ fiat currencies, with over 450 payment channels, and the conversion rate has increased by 5.7% month-on-month.
- The number of institutional users has grown by 27% month-on-month, and contract trading volume has risen by 33.59%.
- The total number of projects launched on Launchpool has reached 290, far exceeding Binance (108) and OKX (11).
Technology empowers a two-way value cycle. Taking IKA as an example, as the "fastest parallel MPC network," it provides second-level cross-chain signatures for $20 trillion in Sui ecosystem assets. Such technology-based projects gain traffic through the Launchpad, feeding back into the diversification of exchange assets.
Global Compliance, the Invisible Pillar of Crypto Expansion
Behind the mechanism innovation and ecological synergy, the 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. By this time, its global compliance landscape has covered more than 10 countries and regions, including Lithuania and Japan.
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 institutions, and in the context of tightening regulations in various countries, such compliance qualifications have become a key differentiated advantage in attracting traditional capital.
Global brand campaign synchronized: Co-branded NFT series with F1 Red Bull Racing Team, held the 12th anniversary celebration of the SPORT3 Sports Carnival in Dubai, and the 7th World Cryptocurrency Trading Competition (WCTC S7) attracted over 110,000 participants.
These measures send clear signals of a new emerging market strategy, with user growth in the Middle East becoming a core engine for the future.
The future threefold evolution direction, reconstructing the logic of cryptocurrency asset issuance.
Based on the current trajectory, the evolution direction of Gate Launchpad is now clearly discernible:
The Path of Mechanism Improvement: A dual-track system will become a standard configuration for the platform, the time-weighted distribution rules will be further optimized, and more asset types (such as LST) or dynamic adjustment ratios may be introduced. The goal is to establish a more precise interest balance mechanism between large and small investors.
Stablecoin Ecologicalization: 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. This will fundamentally change the role of stablecoins in the exchange ecosystem.
Deepening Global Compliance: Building on the foundation of licenses in over 10 countries, with a focus on expanding into growth markets such as the Middle East and Southeast Asia, while simultaneously advancing licensing and localized operations. Against the backdrop of increasing regulatory uncertainty in the U.S. and Europe, expansion into emerging markets holds strategic significance.
At the industry level, Gate is reconstructing the value logic of Launchpad. While most exchanges still see platform tokens as the sole subscription voucher, Gate’s "stablecoin + platform token" dual-track system opens up new pathways.
Future Outlook
As Binance scales back its Launchpad business, Gate’s stablecoin strategy has quietly changed the game. Behind its USD1 holdings ranking second globally is the choice of 34 million users and the backing of 10.453 billion dollars in reserves.
As of August 14, 2025, with BTC breaking through $123,000 and ETH standing at $4,700, the crypto market has entered a high-level consolidation phase, and the triple evolution of Gate Launchpad is paving the way for the next decade of crypto financial infrastructure.
