🚨 Your $1M token raise might be worth far less than $1M

Founders love a “$1M raised” headline. But how much of that money actually reaches your treasury? 👀

One case from a recent launchpad analysis is a serious reality check: CHIPS Protocol had more than $1M in participant commitments across four launchpads. After refunds, unclaimed allocations and launchpad fees, the project received only $37,765. And the launchpad fees alone exceeded $90K. 🤯

So what looked like a seven-figure raise could leave the team with a fraction of the capital they expected. This is why choosing a launchpad in 2026 requires a different mindset. Before signing a deal, founders should look beyond follower counts, “SOLD OUT” banners and gross commitments.

Here’s the key formula:
Settled Net Proceeds = Gross Commitments − Refunds − Fees − Mandatory Costs

And this can completely change the winner.
A $500K refundable sale can leave a project with $45K.
A $300K committed sale can leave $240K.

The bigger headline can deliver dramatically less usable capital. 📉

If you're planning a token sale, this is one checklist worth reading before choosing your launchpad.
👉 Read the full Founder’s Checklist for choosing a crypto launchpad in 2026