Launchpad buyers are down 30% with a 2-year vesting period ahead of them.
Espresso, a decentralized rollup base layer, launched its native ESP token this morning at a valuation of roughly $275 million following its token airdrop and distribution.
The token debuted at $0.072 before jumping up to $0.083 shortly after its launch and has reported $115 million in trading volume over its first 7 hours across CoinGecko-tracked platforms.
The protocol is designed to support rollups and appchains with everything they need from a base layer to ensure high performance, including finality, data availability, and real-time interoperability.
Today’s ESP token launch enables the network to transition to proof-of-stake, and the protocol has distributed 10% of the token supply in an airdrop to more than one million eligible addresses.
There was also a Kaito Launchpad sale in July 2025, which sold 1% of the supply at a $400 million valuation, leaving launchpad investors with a 31% loss at current prices.
The ESP token is the latest in a line of ICOs and token sales that are opening underwater, with Infinex and Aztec being two other recent examples.