Believe, the leading memecoin-launching platform in the SocialFi space, previously known as Clout, has made significant strides towards enhancing user security. The platform has rolled out a series of innovative features aimed at safeguarding its user base from the commonly seen crypto phenomena of rugpulls and scam tokens.
Implementing Security Features
In a proactive move, Believe has implemented an automatic fee block for all new tokens for the initial 24 hours following their launch. This new security measure comes in response to the frequent scenario of immediate sell-offs in the aftermath of new token launches, a practice often associated with rugpulls.
The platform didn’t stop with mere automatic protections though; it has also included a manual fee blocking capability that can be applied to every new token on the platform. To maximize effectiveness, Believe is encouraging the community to report any seemingly suspicious projects promptly. This collective vigilance will contribute significantly to the platform’s overall security.
Standardizing Contract Addresses
Bolstering their platform security and ease of use, all contract addresses related to Believe tokens will now feature the suffix BLV. This will assist users in effortlessly recognizing tokens launched on the platform. This approach mirrors that of other crypto communities, such as the Pump.fun memecoins, where tokens can be distinguished by a ‘pump’ suffix in their contract addresses.
Transparency in Token Health and Earnings
Moving forward, Believe plans to publicly present the token health status coupled with creators’ fee earnings. This is part of the platform’s commitment to maintaining transparency in the memecoin environment. It aims to further optimize the iOS token release process. The success of this operation could propel tokens launched through the platform’s brand-new app from the current 1% to an estimated 100% by the end of the month.
About Believe Platform
Believe creates a convergence of social media, finance, and blockchain technology, offering a unique take on the decentralization narrative. Powered by Web3 technology, Believe allows users to develop and launch their own tokens through social interactions on X, with the platform taking care of token creation automatically when tagged with the required details and launch command in a tweet.
Token Trading
Tokens are initially traded on a bonding curve then transition to Meteora once they reach a market capitalization of $100,000. During the Meteora phase, trading fees are split evenly between Believe and the token creator. Creators can conveniently claim their earnings on a daily basis just by linking their X account to the Believe application.
LAUNCHCOIN’s Success
Given the platform’s popularity, it is no surprise that Believe has been closely examined in the world of crypto currencies. LAUNCHCOIN, originally referred to as the PASTERNAK coin, has maintained a strong connection with its origins. Ben Pasternak, the coin’s creator, also founded Clout, now known as Believe. Although LAUNCHCOIN isn’t an official native coin of Believe, its shared rebranding spurred speculation about its potential role within the Believe ecosystem, resulting in a surge in its value from a $10M market cap to above $240M within a couple of days. However, it has recently retraced to a more sustainable level of $142M.
