Today's @_TalkingTokens pod is with @MolidorShane, founder and CEO of @Forgd_ diving into: - Why TGEs need an overhaul - IPOs vs token launches - Top performing market makers - Their plans to bring more transparent data-driven tools and fairer tools to the market and more. TIMESTAMPS 00:00 – Intro 01:06 – State of token launches months after crypto's all-time highs 02:03 – Structural gaps bull markets hide: who is getting hurt and how 05:23 – Why IPOs are engineered and crypto launches are improvised 06:56 – Should crypto adopt IPO-style book building and will it happen 08:41 – Is now a good time to launch a token? The double-edged sword argument 10:27 – Tools Forgd is seeing increased demand for right now 12:30 – How Forgd's benchmarking tool works: 600 engagements, 35+ market makers 15:43 – How reputation plays into market maker selection and what changes it 17:46 – Why data-driven RFQs are replacing legacy voice brokerage 21:39 – Why Shane built Forgd after running a trading desk and seeing the gap firsthand 26:51 – Top performing market makers on the leaderboard right now 29:35 – How founders say the historical data has changed their decision making 30:43 – Forgd's 2026 roadmap: exchange listing tools, tokenomics simulations, and AI 33:40 – Exchange listing strategy: what the data says about Binance vs OKEx vs Coinbase 39:30 – How institutional demand for new launches has collapsed and what teams are doing instead 42:22 – What the actual solution looks like: rethinking fundraising and book building 44:57 – Final advice: use data, not gut instinct, when selecting market makers Full episode below: