Pre-sale
Private token sale before the project's public launch.
Beginner-friendly explanation
A pre-sale is a private sale where a few investors can buy tokens before the public, often at a discounted price.
Example:
A project sells its first tokens at $0.01 during the pre-sale.
Intermediate-level insight
The pre-sale helps raise initial funds, validate market interest, and structure future distribution. It’s often reserved for strategic partners or whitelisted participants.
Example:
Only whitelisted participants access the pre-sale of an NFT project.
Advanced perspective
Pre-sales introduce asymmetric risk: price advantage for early entrants but potential illiquidity or cancellation risks. Conditions (vesting, lock-up) influence post-launch sell pressure.
Example:
A project imposes a 12-month vesting to limit massive sales after its pre-sale.
Cryptocurrencies & Tokens
pre-sale, private sale, tokens, early investment, discounted price, whitelist, vesting, fundraising