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Launching a token is one of the most defining moments for any Web3 project. But how you launch can make or break the project’s future.

In our earlier discussions about why projects issue tokens, we established that a token must serve a clear purpose — whether as a utility asset, a governance mechanism, or a reward for value creation. Without that purpose, even the best-designed tokens risk becoming “exit liquidity” — where early insiders sell, prices collapse, and trust evaporates.

Now, the question is shifting from “Why launch a token?” to “How should you launch one?”
And today, two strategies dominate that conversation: the airdrop-first approach and the DEX-first model.

The Airdrop-First Playbook: Big Reach, Short Shelf Life

For years, airdrops have been the go-to strategy for new crypto projects:

• Distribute free tokens to thousands of wallets
• Build early hype and community buzz
• Reward early adopters and testnet users

At first glance, it sounds like a win-win — exposure, engagement, and rapid growth.
But the reality is more complicated.

Recent studies of 2024 token launches show that between 50% and 80% of airdropped tokens lost value within weeks. Only a small fraction — roughly 11% — remained in positive territory after 90 days.

Why? Because most users who receive free tokens don’t feel emotionally or financially invested. They claim the drop, sell for quick profit, and move on. This behavior leads to:

• Sudden sell pressure and price crashes
• Weak community conviction
• Long-term damage to brand and trust

Essentially, the traditional airdrop model trades short-term excitement for long-term instability.

The Rise of the DEX-First Launch: Building With Real Demand

A growing number of projects are turning to a more sustainable model — the DEX-first launch.

Instead of distributing tokens for free, projects create a liquidity pool on a decentralized exchange (DEX) such as Uniswap or PancakeSwap. A smaller, verified group of early supporters or contributors is invited to buy the token directly from the pool.

This creates genuine market activity from day one — and more importantly, it ties early participation to real belief in the project.

Why the DEX-First Model Works Better

1. Early supporters get meaningful upside
Rather than receiving free tokens, contributors buy early at favorable terms. Their commitment — both financial and ideological — becomes part of the project’s DNA.

2. Market-driven pricing replaces speculation
Prices on a DEX reflect real buying and selling activity. Value is determined by demand, not hype.

3. Stronger community alignment
With fewer “farm-and-dump” wallets, communities form around conviction, not freebies.

4. Liquidity grows naturally
Each trade adds depth to the pool, providing sustainable liquidity that benefits both the project and its investors.

Why Founders Are Paying Attention

From a project perspective, DEX-first launches bring tangible advantages:

• Treasury inflows: Initial sales generate actual revenue, not just token distribution.
• Liquidity ownership: The project can retain part of the pool, earning fees and maintaining stability.
• Investor confidence: A transparent market price simplifies future fundraising conversations.

Instead of chasing short-term exposure, founders using the DEX-first strategy focus on long-term alignment and sustainability — values that investors and communities are beginning to prioritize.

The Bigger Picture

Airdrops will always have a place — especially for community bootstrapping or rewarding genuine participation.
But as the Web3 space matures, token launches are evolving from giveaways to governance.

The DEX-first approach reflects this evolution:
It rewards true believers, builds liquidity from real demand, and ties the project’s growth to its community’s conviction.

In the long run, projects that launch with purpose and alignment — not just exposure — are the ones most likely to survive the cycles and build lasting value.

Key Takeaway for Web3 Founders

If you’re planning a token launch, ask yourself:

“Do I want reach — or resilience?”

Airdrops can give you the first.
DEX-first launches can give you the second.
The best projects are learning how to build both.

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ComeUp Startup helps founders stay ahead of trends shaping the Web3 and startup ecosystem — from tokenomics to funding models. Subscribe to our weekly newsletter for insight-driven analysis on innovation, strategy, and market evolution.