Kraken 360, the crypto exchange's end-to-end protocol launch platform, is making the case that vendor fragmentation is the primary reason token generation events (TGEs) fail, and that the industry needs a single coordinated stack to fix the problem.
Teams preparing to launch a token typically assemble custody, distribution, staking, liquidity and exchange services from separate providers, Kraken 360 said, creating handoffs that require bespoke coordination and leave launches vulnerable to execution errors.
The company illustrated the risk with an example where an exchange listing and vesting releases were both scheduled for 9 a.m., but one vendor used UTC and the other used EST, leaving investor wallets empty while the token began trading and driving immediate sell pressure.
Vendor support channels repeatedly respond with "this has never happened before," the company said.
Data from Arrakis Finance's Practical Guide to TGE in 2026, compiled from 125 real launches and more than 25 founder interviews, underscores the scale of the problem.
The research found that 85% of tokens launched in 2025 ended the year in negative territory, with the median token down 71% from its launch valuation.
A negative first week proved nearly fatal, with only 9.4% of tokens that declined in their opening seven days recovering to positive returns by year-end.
Kraken 360 positions itself as the solution, combining custody, staking, programmatic token distribution, exchange coordination, liquidity strategy, compliance and treasury operations into a single platform built on Kraken's regulated infrastructure.
The platform holds MiCA authorisation across the European Economic Area through Payward Europe Solutions, regulated by the Central Bank of Ireland, and operates a Wyoming Special Purpose Depository Institution (SPDI) charter through Kraken Financial for US institutional access.
Custody services are provided by Payward Financial or Payward Europe Solutions as applicable.
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The company has published an eight-part TGE Readiness Series and a three-part playbook detailing the operational decisions protocol teams need to make months before minting, from entity structure and tokenomics design through to post-launch treasury management and unlock scheduling.
Kraken 360 said the launches that succeed are those where distribution providers, custodians, legal counsel and exchange partners are aligned before mint, not assembled afterwards.
The recap
- Vendor sprawl can misalign token launch systems and cause failures
- 85% of tokens launched in 2025 ended the year negative
- Kraken 360 offers a coordinated custody-to-exchange launch stack
