Token Gating Models Face Scrutiny as Open-Access Crypto Platforms Gain Traction

Cryptocurrency markets are rallying, with fundraising activity surging alongside rising asset prices. The bullish momentum coincides with regulatory shifts in the U.S. and evolving perceptions of crypto's role in global finance, according to CryptoRank's Q2 2025 report.

Launchpads, critical gateways for early-stage investment opportunities, are facing criticism over token-gating mechanisms. These systems require users to hold platform-specific tokens to access presales or premium features—a model increasingly viewed as restrictive compared to open-access alternatives like CoinTerminal.

The debate centers on accessibility. While token gating theoretically aligns user and platform incentives, it creates capital barriers that may exclude smaller investors. Market dynamics now favor platforms offering unfettered access to emerging projects without native token requirements.