The Public Sale Model Is Broken: Here’s How to Fix It

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For years, public token sales followed a familiar script. Tight allocations, registration hoops, first-come-first-served races, and the promise of certainty before a sale even began. 

For a time, that structure worked. Then scale arrived, expectations shifted, and the cracks became impossible to ignore.

Now, in 2026, it’s clear that many of the mechanics that defined early IDOs are no longer fit for purpose.

More teams are now asking a different question. Instead of “How do we manufacture scarcity?”, the focus is shifting toward “How do we handle demand honestly, at scale, without penalising participants for showing up?”

That shift is already changing how public sales are designed.

From Guarantees to Proportional Allocation

One of the biggest changes underway is the move away from guaranteed allocations. In theory, guarantees provide comfort. In practice, they concentrate access among a small group while pushing everyone into a FCFS competition.

A proportional allocation model flips that logic. Participants commit during a defined window, demand is measured openly, and final allocations are calculated after the sale closes. If demand exceeds supply, excess funds are returned automatically. No hidden rules. No last-minute surprises.

It’s a structure that looks far closer to traditional capital markets than early crypto experiments.

As CEO of ChainGPT Pad Gintare Kairyte explains, the goal is to remove false expectations.

“People deserve clarity. A sale where outcomes are understood upfront builds far more trust than pretending every participant can be guaranteed the same result.”

Why Post-Sale Choice Matters

Another important evolution is what happens after a sale ends.

Historically, participation was binary. Once funds were committed, the outcome was fixed. That rigidity made sense when volumes were small, but it becomes harder to justify as participation scales globally.

Newer models introduce optionality. In some cases, participants can decide after allocations are finalised whether to proceed with their token claim or take a refund under predefined conditions.

That flexibility doesn’t weaken a sale. It forces discipline from both platforms and projects.

Launches Are Infrastructure Now

At a broader level, this evolution reflects a simple reality. Token launches are no longer novelty events. They’re infrastructure.

As Founder and CEO of ChainGPT Ilan Rakhmanov notes, public sales need to be designed for longevity, not spectacle.

“Launches are becoming part of a wider lifecycle. Governance, liquidity, distribution, and long-term participation all depend on getting the mechanics right from day one.”

This thinking is shaping how platforms like ChainGPT Pad are approaching public sales. In 2026, the platform began rolling out a subscription-style public sale model designed around proportional allocation, transparent handling of oversubscription, and clearly defined post-sale choices.

What a Fixed Model Looks Like

Public token sales in 2026 are increasingly defined by a few clear traits:

• Open access gated by compliance, not hierarchy
• Proportional allocation instead of artificial guarantees
• Automatic handling of oversubscription
• Clear post-sale choices rather than irreversible commitments

None of this removes uncertainty from token launches. But it does make outcomes clearer and expectations more aligned.

And in a market where trust has been repeatedly tested, clarity may be the most valuable upgrade of all.