When you think of IDO launch 2021, an initial decentralized offering is a way for blockchain projects to raise funds directly from the public through decentralized exchanges, bypassing traditional venture capital. Also known as initial DEX offering, it was the hottest way to get new tokens into circulation without going through an exchange listing first. In 2021, every crypto project with a whitepaper and a Discord server tried to do one. The idea was simple: lock liquidity, list on a DEX like Uniswap or PancakeSwap, and let retail investors buy in immediately. No waiting for centralized exchange approval. No gatekeepers. Just pure, unfiltered access.
But behind the hype were real consequences. DeFi token sale, a type of fundraising where users interact directly with smart contracts to purchase tokens during a project’s launch became a battleground. Some teams delivered real products—DeFi protocols that actually worked, games with real players, tools that saved users money. Others? They vanished after the first day. The blockchain project launch, the moment a new crypto project goes live and starts accepting investments from the public was no longer a milestone—it was a race to the bottom. Liquidity pools got drained. Rug pulls exploded. And the people who rushed in hoping to get rich quick? Most lost everything.
What made 2021 different wasn’t just the number of IDOs—it was the speed. Projects went from zero to $100 million market cap in hours. Some tokens doubled in minutes. Others crashed 90% before the first hour ended. The tools changed too: launchpads like Polkastarter, TrustSwap, and DAO Maker became the new gatekeepers. But even they couldn’t stop fraud. You saw teams with no code, no team members, no roadmap—just a fancy website and a Twitter thread. And people still bought in.
Today, you can look back and see which IDOs survived and which didn’t. The ones that stuck around had real users, real utility, and real audits. The rest? They’re ghost towns on Etherscan. The lessons from 2021 aren’t just history—they’re survival guides. If you’re thinking about jumping into a new token launch now, you need to know what went wrong back then. Because the same mistakes are still happening. The names change. The logos get updated. But the playbook? It’s the same.
Below, you’ll find real stories from that chaotic year—some about scams that vanished, others about projects that quietly built something lasting. You’ll see how airdrops got twisted into fake giveaways, how exchanges got shut down for ignoring KYC, and why even the most promising tokens can die if no one uses them. This isn’t nostalgia. It’s a warning. And a roadmap.
HappyFans (HAPPY) ran its IDO in 2021, not 2025. The token had a short rally but vanished soon after. No active airdrop exists today - here's what actually happened.