Subscribing to an initial decentralized exchange offering (IDO) appears to be a promising idea, but there is always more than meets the eye. Whale wallets dump their holdings after incredibly short vesting periods, leaving even the most popular launchpads with crumbs. Complex tier systems and insufficient IDO token allocations are common in the traditional launchpad model. Even if an investor can obtain the desired number of tokens, selling pressure from whales frequently causes the token’s price to fall shortly after launch.