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Launchpad

Traditional token sales suffer from major inefficiencies. Presales at discounted rates create immediate sell pressure as early investors look to exit at a profit. Vesting doesn't help because locking up a liquid asset only distorts market prices and creates pent up sell pressure. Meanwhile, large team allocations concentrate supply and reduce liquidity in circulation. On top of that, artificially hyped public sales often result in unsustainable price spikes, followed by crashes when speculative interest fades.

Multiswap’s Launchpad is designed to fix these problems by enabling organic price discovery and gradual liquidity growth without distortions.

The Role of Surplus in Price Discovery​

Rather than conducting a large pre-sale or simply injecting the full token supply into the liquidity pool, the Launchpad introduces a surplus mechanism:

  • Minting into Surplus: Instead of allocating all tokens to reserves, most of the supply is minted into a surplus account.
  • Balanced Reserves: A smaller portion is placed in the pool’s reserve to enable balanced pricing.
  • Gradual Release: When traders buy the token, the tokens are taken from the surplus instead of the reserve.
  • Treasury Capture: Proceeds from surplus sales are directed to the protocol’s treasury.

This approach creates a fair launch while maintaining a liquid and accessible market.

Eliminating Unnecessary Price Impact​

A key innovation of the surplus mechanism is that it does not affect price impact. Whether a token is sourced from surplus or reserve, traders experience the same pricing behavior. This ensures that price discovery remains fair and organic, without artificial distortions or early dumping.

Conclusion​

The Multiswap Launchpad introduces a sustainable, fair, and transparent model for token distribution. By leveraging surplus-based releases and avoiding common pitfalls of presales and inflationary allocations, Multiswap enables projects to launch with strong liquidity foundations and genuine price discovery. This approach not only benefits new token launches but also lays the groundwork for a more efficient trading ecosystem that rewards long-term participation.