# kaal:claim:4015908-005

**Claim.** Fair launch tokens outperformed centrally distributed projects during the late 2020 and early 2021 rally: the collective crypto average token launch gained 112.41% over 90 days while fair launch projects gained over 296%.

**Type.** empirical  **Support.** evidenced

**Holds when.**

- digital asset market rally of late 2020 and early 2021
- 90 day window after launch

**Source quote.**

> During the digital asset market rally in late 2020 and early 2021, the collective crypto average token launch over 90 days increased 112.41%, while Fair Launch projects gained over 296%.

**From.** Wulf A. Kaal, *Fair Token Launch* (2022), III.1 Market Performance, page 5

**Cite as.** Wulf A. Kaal, Fair Token Launch (2022). SSRN: https://ssrn.com/abstract=4015908

**Verify.** sha256 of source PDF `e0925afde0c42a16cd5310983789fae3eb3d1f121e2954a72afa64191d00fe37` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20-%202022%20-%20Fair%20Token%20Launch.pdf

**Topics.** economics, empirical-evidence, tokenomics

**Keywords.** fair-launch, market-performance, empirical-data, token-returns

**Canonical form.** This markdown file is the canonical hashed representation of the claim. Its sha256 is the content hash used for attestation.