Nine tokens launched from Tier 1 launchpads in Q1 2026. Seven lost more than 20% of their value within 30 days of trading. Two held within 5% of their first-week peak.
This is not a collection of opinions. It’s a ranking, built from price data pulled from DeFiLlama across every token that launched via Binance Launchpool, Binance HODLer Airdrops, and CoinList between January and March 2026.
The Launchpad Scorecard tracks two metrics per token. Metric D measures the drop from the T+7 price peak to T+30. It captures how much value evaporated in the first month after initial trading excitement faded. Metric A measures TGE price to T+90. It tells you whether a project built value or just deferred the collapse. Only two tokens in Q1 have complete Metric A data as of publication. The rest will be updated as they hit their 90-day marks in May and June.
Every data point in this report comes from DeFiLlama price feeds, computed from first principles rather than pulled from secondary aggregators.
Here’s the full Q1 2026 performance picture.
The Q1 2026 Launchpad Scorecard: Full Rankings
Before the token-by-token breakdown, the summary view.
| Token | Launchpad | TGE Date | Metric D | Metric A | Confidence |
|---|---|---|---|---|---|
| Flying Tulip (FT) | CoinList | Feb 23, 2026 | -2.61% | Pending (May 24) | HIGH |
| Aztec (AZTEC) | CoinList | Feb 11, 2026 | -3.59% | Pending (May 12) | MEDIUM |
| Midnight (NIGHT) | Binance HODLer | Mar 11, 2026 | -21.44% | Pending (Jun 9) | HIGH |
| Zama (ZAMA) | CoinList | Feb 2, 2026 | -43.36% | Pending (May 3) | MEDIUM |
| Rainbow (RNBW) | CoinList | Feb 5, 2026 | -47.28% | Pending (May 6) | HIGH |
| Opinion (OPN) | Binance Launchpool | Mar 5, 2026 | -47.96% | Pending (Jun 3) | MEDIUM |
| Acurast (ACU) | CoinList | Jan 20, 2026 | -48.39% | Pending (Apr 20) | MEDIUM |
| Immunefi (IMU) | CoinList | Jan 19, 2026 | -56.35% | -71.27% | HIGH |
| Brevis (BREV) | Binance HODLer #60 | Jan 6, 2026 | -66.38% | -73.69% | MEDIUM |
Token-by-Token Breakdown
1. Flying Tulip (FT) — Metric D: -2.61% — HIGH Confidence
Andre Cronje launched his DEX/AMM protocol via CoinList after a public sale (Feb 16–22) that raised $225 million, the largest CoinList raise of Q1 2026. FT’s T+7 peak coincided with its TGE-day price. No late spike, no speculative momentum play. Demand was already there at launch. Thirty days later, the price sat within 3% of that original peak.
The $225M raise wasn’t just a fundraising milestone. It was a signal that large, informed buyers had studied the protocol and committed capital before the token went public. Those buyers don’t sell in 30 days.
Team: Andre Cronje (creator of Yearn Finance, Keep3r, co-creator of Fantom)
Links: flyingtulip.com | @flyingtulip_
2. Aztec (AZTEC) — Metric D: -3.59% — MEDIUM Confidence
The Ethereum privacy L2 launched via CoinList without airdrop farming mechanics or flashy yield incentives. The TGE price peaked on day 3 and declined only fractionally by day 30. No sell-pressure event. No unlock cliff in the first month.
Aztec had years of testnet activity, a clear roadmap milestone, and a technical community that understood what they were holding. When the token went liquid, the holders who stayed were the ones who understood where the protocol was going, not just where the price had been.
Team: Zac Williamson (CEO, co-founder), Ariel Gabizon (Chief Scientist, co-author of PLONK prov…