How to Build a Token Launch Strategy: A Complete Guide

Frequently Asked Questions

01.What is a token generation event?

A token generation event, or TGE, is the moment a token is minted and becomes transferable, usually coinciding with its first listing on an exchange or liquidity pool. It fixes the opening circulating supply, the price discovery venue and the first date on which vesting clocks start to run. For an allocator it is the day the capital structure of the token becomes public and tradeable, so every later unlock is measured from it.

02.Why do so many new tokens trade below their launch valuation?

Most launches in 2025 priced a small tradeable float against a large fully diluted valuation, then released locked supply into markets that had no matching demand. Research covering 118 token generation events in 2025 found roughly four out of five trading below their opening fully diluted valuation, and none of the 28 launches that opened at or above a billion dollars were above it (CryptoSlate, December 2025). Supply schedules, not headlines, drove the result.

03.Does MiCA require approval of a token white paper before launch?

No. For crypto-assets other than asset-referenced tokens and e-money tokens, Article 8 of MiCA says competent authorities shall not require prior approval of the white paper. The issuer must still notify it to the home Member State authority at least 20 working days before publication, publish it before the offer starts, and give retail buyers who purchase from the offeror or a placing service provider a 14 calendar day right of withdrawal under Article 13, which does not apply once the token is already admitted to trading.