Definition
A token launch is the starting point at which a new digital token is officially released and offered to participants for the first time. It marks the moment when the token’s supply, basic rules, and initial distribution are put into effect according to its tokenomics design. The launch defines who gets tokens at the beginning, how many are created, and under what conditions they may later enter the market.
Token launches can involve different distribution methods, such as sales, airdrop-style giveaways, or access limited to a whitelist of approved wallets. The structure of a token launch is usually aligned with the long-term goals of the project, including how value is intended to flow between the project, its community, and other stakeholders. In decentralized finance, the token launch often sets expectations for how the token will interact with protocols, incentives, and governance over time.
Context and Usage
In practice, a token launch is closely tied to the project’s tokenomics, which define allocation, pricing logic, and any mechanisms such as a bonding curve that may influence how the token’s price changes as supply is issued. A launch may also specify vesting arrangements that delay when certain holders, such as team members or early backers, can fully access or transfer their tokens. These design choices shape the early supply dynamics and perceived fairness of the launch.
Token launches can be designed to reward early community members, for example through an airdrop, or to manage demand by limiting participation to a whitelist. In decentralized finance, the details of a token launch are often scrutinized to understand how power, ownership, and incentives are distributed from day one. As a concept, a token launch describes this initial creation and distribution phase, rather than the ongoing trading or later upgrades of the token.