According to @LexSokolin, CEX launchpads are crypto's biggest innovation killer because they reward flipping and dumping over building and holding (source: @LexSokolin). According to @LexSokolin, these incentives create a broken market structure where projects fail to endure, signaling fragile post-listing performance for launchpad tokens (source: @LexSokolin). According to @LexSokolin, the setup encourages extraction around token generation and centralized exchange listing events, leading to heightened short-term volatility and rapid exit behavior (source: @LexSokolin). According to @LexSokolin, market participants should recognize that launchpad-driven cycles favor short-term flips rather than long-term contribution, which explains why few initiatives last in the current structure (source: @LexSokolin).