US crypto token sales to explode this month – 7 yrs after ICOs shut down

Coinbase has launched a new token pre-reserve platform, effectively reopening US retail participation in public token sales seven years after regulators halted the ICO boom. The mechanism features curated projects, fixed sale windows, and algorithmic allocation settled in USDC, with guaranteed listing on Coinbase. Structurally, it imposes a six-month lockup on issuers selling tokens on secondary markets and deprioritizes users who sell their allocations within 30 days, aiming to suppress the "dump-on-listing" behavior common in past cycles. This design contrasts sharply with Binance Launchpad, which gates participation via BNB holdings and lacks system-wide anti-flipping or issuer lockup rules. Coinbase’s bottom-up allocation prioritizes smaller requests, aiming for flatter distribution without exchange token whale advantages. The success of this "IPO-lite for tokens" hinges on regulatory classification—avoiding unregistered securities status—and user discipline, as rational participants might still prioritize short-term gains over future allocation access if early sales yield high multiples. The first test sale is scheduled for November 17 to 22 with the Monad layer-1 project.

(Source：CryptoSlate)