Will the IP tokens be tradable on public exchanges, and if so, what is the expected liquidity and market depth?

Will the IP tokens be tradable on public exchanges?

The press release only details a private‑placement of $120 million worth of IP tokens and does not specify a launch‑on‑exchange schedule. However, the token is being sold to a slate of well‑known crypto investors (a16z crypto, Polychain, Amber Group, etc.) and is being issued as a standard blockchain asset (most likely an ERC‑20 or similar). In practice, tokens backed by such high‑profile backers almost always end up on at least one major public venue—either a leading centralized exchange (CEX) such as Binance, Coinbase, or Kraken, or on a major decentralized exchange (DEX) like Uniswap or SushiSwap—so it is reasonable to expect the IP token to become publicly tradable within the next 3‑6 months once the private‑placement closes and any lock‑up periods expire.

Liquidity & market depth outlook

Because the token’s initial supply is being sold to institutional investors, the early secondary‑market supply will be limited by lock‑up periods (typically 3‑12 months). This will create a thin order‑book and relatively high volatility at first, especially if the token is listed on a CEX where market‑making firms are likely to be invited to provide depth. After the first unlock, a sizeable amount of tokens will enter the market, but the presence of large investors (a16z, Polychain, etc.) and a potential “staking‑as‑utility” model (if the token is used for governance, revenue sharing, or as collateral in the Heritage ecosystem) will help sustain a baseline demand. In practice, we can expect:

• Initial liquidity: modest‑to‑moderate (tens‑of‑millions of USD) on launch, with a narrow bid‑ask spread on the CEX (if market makers are engaged) and higher spreads on DEXs.
• Depth development: as the lock‑up periods unwind, order‑book depth will improve gradually; by 6‑12 months post‑launch, daily volume could reach $50‑$100 M if the token’s utility is activated, providing sufficient depth for institutional‑size trades.

Trading implications

- Short‑term: Expect a “listing‑spike” followed by heightened volatility. Consider waiting for the first 24‑48 hours after the official exchange announcement to gauge price discovery and order‑book depth before entering sizable positions.

- Medium‑term: Monitor the token‑release schedule (the prospectus should detail lock‑up dates). A batch release of tokens often triggers price dips; this can be a tactical entry point for long‑term holders, while short‑term traders might profit from the predictable volatility around each unlock.

- Long‑term: If the IP token is tied to revenue streams from Heritage’s distillery operations (e.g., a share of liquor sales or token‑gated “premium” product access), fundamentals could support a stable price floor, allowing the market to mature with increasing depth and tighter spreads. Keep an eye on any staking‑rewards or utility‑driven demand that could boost liquidity beyond pure speculative interest.