What's more better,Firstly token listing in exchanger and than distribution token or distribution token before listing in exchanger?
It depends on the situation of what is better between these two, if you have already the token but no exchanger then it is useless. If the token is already listed but you don't received your tokens then it so annoying once you received your tokens with a lower price already in exchanger. So in terms of that, it will depends on the mood of the trader whether what he wants to comes first.