Fair launches are a term used to describe initial token distribution or genesis distribution events where project insiders are not allowed to obtain more tokens or tokens at a more favorable price than project outsiders. Although not explicitly defined or achievable, fair launches are commonly characterized by certain ideals that are widely understood in the blockchain community.
These ideals include a launch without any development or team incentives, private crowdfunding rounds, discounts, or any other form of preferential treatment for any specific group. Fair launches are also described as having a long duration of token issuance and maintaining price equality for all participants.
While complete fairness in the distribution of tokens may be challenging to achieve due to information asymmetry between earlier and later investors in a free market, fair launches seek to provide a level playing field for all participants. By ensuring that all participants have equal access to tokens at a fair price, fair launches aim to promote inclusivity, transparency, and trust in the blockchain ecosystem.