Launch Coin on Believe (LAUNCHCOIN) – Project on Solana Network

Team, Founders and Project History

Launch Coin on Believe (LAUNCHCOIN) is the main token of the Believe platform (previously called Clout). The project was initiated by Australian entrepreneur Ben Pasternak, known for a series of successful technology ventures. Still a teenager, Ben developed the mobile game Impossible Rush at age 15 and, at 17, co-founded the video-chat app Monkey, which reached over 20 million users. Later, at age 20, he founded the food startup Simulate (creator of vegan nuggets "NUGGS"), demonstrating a history of innovation before entering the crypto space. Pasternak also participated in the cryptocurrency venture capital sector – he is a co-founder of AllianceDAO, a renowned Web3 accelerator.

In late 2024, Ben Pasternak launched the Clout platform with a SocialFi concept to "transform personal influence into tradable digital assets." The initial idea behind Clout was that reaching a certain level of social media followers would automatically create a token in an influencer's name, making their influence a quantifiable and tradable asset. Ben himself was the first test subject: on January 8, 2025, he posted a tweet saying "Buy me on Clout app" to promote the launch of his personal token $PASTERNAK. Two weeks later, his token reached the funding goal set on the platform and was officially launched as Clout's first token, reaching an $80 million market value within hours. This lightning-fast success was driven by the Solana community and influential investors – Imran Khan, partner at AllianceDAO, publicly supported the project and even launched his own token (becoming the second token on the platform). This involvement from respected community members (AllianceDAO had previously supported projects like dYdX, etc.) generated significant initial FOMO around Clout.

However, the project faced difficulties shortly after the initial launch. With the introduction of the mobile app, serious front-end issues occurred – the interface crashed, and several influencer tokens intended to be released to the external market were not made available as promised. Users who bought tokens within the app became unable to trade or withdraw them, drawing severe criticism. After the peak of activity, the $PASTERNAK token plummeted: although it recorded about $250 million in volume in the first 24 hours, the price dropped the very next day, and within a week, the market value shrank to about 1/30th of its peak, reaching only $180 thousand in March 2025. This early boom and bust tarnished the platform’s initial reputation – many thought Clout would share the same ephemeral fate as other SocialFi experiments.

On April 28, 2025, however, the team executed a strategic repositioning: Clout was renamed Believe and announced a new slogan – “Believe in someone → Believe in something” – signaling a shift in focus from influencer coins to utility-driven project tokens. All old tweets from the project were deleted, marking a fresh start. The next day, the $PASTERNAK token was officially renamed $LAUNCHCOIN, aligning with the new brand (the name Launch Coin matches the account used to launch tokens via X). This change confirmed speculation that Pasternak’s token would become the platform’s official currency.

The project's reorientation toward "believing in something" earned public praise from notable industry figures. Nikita Bier (former product growth consultant at Solana, xAI, and Coinbase) called Believe the "killer viral app" and shared performance data to back up his enthusiasm. Even Anatoly Yakovenko (co-founder of Solana) and other leaders, such as the co-founder of Jupiter DEX, retweeted announcements from Believe, indicating support from the Solana community. With this momentum, LAUNCHCOIN’s market value rose from about $1 million (post-crash) to $22 million within 24 hours after the rebrand, continuing an upward trajectory through May 2025.

Currently, Ben Pasternak remains at the helm of the project, supported by a lean team of developers and collaborators. According to analyses, the core team has extensive experience in social product development and on-chain asset design. No additional cofounder names or developer details have been disclosed yet (besides Pasternak), nor any public information about traditional investment rounds – the project prides itself on a "de-VC-ization" philosophy, i.e., no dependence on venture capital, with growth driven by the community and the token itself. This lean and community-focused profile reflects the project's culture, strongly rooted in crypto-native practices (memes, open participation) and focused on organic growth.

Tokenomics: Supply, Distribution, and Mechanisms

LAUNCHCOIN is a standard SPL (Solana) token with a total supply capped at 1 billion units. Practically 100% of this supply is already circulating in the open market (approximately 999.87 million, or 99.99%, according to May 2025 data). In other words, there were no major portions reserved for the team, private investors, or lock-up periods – the launch followed a fair-launch model, where any participant could buy tokens from the start, without exclusive pre-sales. Indeed, $PASTERNAK/$LAUNCHCOIN was the first token to conduct a kind of public pre-sale on the Clout/Believe platform, achieving 100% of its fundraising goal to unlock external liquidity. This resulted in a wide distribution of tokens among thousands of participants right at the initial launch. Today, LAUNCHCOIN has approximately 24,000 holder addresses, indicating a distributed community.

Distribution and allocation: As mentioned, nearly all tokens were made available to the public. There is no indication of pre-mined allocations for VC funds or the team – this absence of pre-allocation aligns with the proposal to decentralize the launch and avoid concentration (consistent with the de-VC-ization ethos cited by the team). Developers emphasize that token appreciation should reflect community engagement and platform success, with no inflationary mechanisms planned so far. Token burn: At the moment, there is no official burn mechanism in place for LAUNCHCOIN. There are ongoing discussions within the community about adopting some form of deflationary burn or transaction tax – including governance proposals suggesting introducing fees burned during transfers – but nothing has been implemented yet (any such changes would require voting under governance rules).

Staking and rewards: The Believe platform intends to incorporate staking functionalities and participant incentives. The app ecosystem includes mini-staking apps and modules for community governance, along with token minting tools. This suggests that both LAUNCHCOIN and user-launched tokens may eventually be involved in staking or yield farming mechanisms within the app – allowing, for example, token holders to generate returns or receive benefits by locking (staking) their tokens. However, by mid-2025, no formal staking program for LAUNCHCOIN itself, nor regular reward emissions, had been announced. Current incentives are more tied to sharing transaction fees (as detailed below) and the potential return for creators and scouts through trading volumes of launched tokens.

Governance: Believe incorporates an element of decentralized governance to evolve the protocol. LAUNCHCOIN holders can participate in decisions as long as they hold a minimum amount – currently, holding 0.1% of the total supply (about 1 million tokens) is required to submit proposals or vote in the on-chain governance forum within the app. This relatively high threshold aims to ensure that only significantly committed participants ("skin in the game") influence strategic changes. Governance proposals might include, for example, changes to fees, introduction of new features (such as burn mechanisms or token use in partnerships), among other aspects of the ecosystem. New participants interested in learning how can find documentation and tutorials on the official Believe website, which functions as a living whitepaper for the platform – though there’s no traditional PDF whitepaper, the Builder Playbook and official FAQs fulfill the role of guiding users on token rules and platform usage.

Project Revenue and Monetization Model

Believe’s business model is built on an innovative shared transaction fee mechanism and social media-based tokenization. Unlike conventional launchpads, Believe does not charge users for initial launches; instead, monetization occurs as launched tokens begin trading on the secondary market. Each new token created on the platform starts trading in an automated liquidity pool of the bonding curve type provided by Meteora DBC technology. In this model, the token’s price is algorithmically determined by the curve as people buy/sell – starting from very low values and rising progressively as demand increases. This arrangement ensures initial liquidity and a fair price discovery process without the need for human market makers. Believe even provides initial liquidity support for selected projects, injecting up to $10 thousand in initial liquidity into promising token pools, helping attract traders and reduce extreme volatility in early trades.

To prevent manipulation and sniping (automated traders trying to scoop up cheap tokens right at the launch second), Believe employs a dynamic decreasing transaction fee system. When a token is launched, the first trades are subject to a very high transaction tax (up to ~30%), which gradually decreases over time as volume increases, stabilizing at a 2% rate. This approach penalizes those trying to flip the newly launched token immediately and encourages holding until liquidity and price stabilize. Once the token reaches around $100 thousand in market cap, it "graduates" from this initial bonding curve pool to a traditional pool (via Meteora) with normal rates.

The final standardized rate in the Believe ecosystem is 2% per transaction, and the unique feature of this model lies in how this fee is distributed among stakeholders: 1% goes to the token creator (the user who launched the project), 0.1% is distributed to early promoters or “scouts” (people who helped promote or identify the project early), and 0.9% stays with the Believe platform. This split ensures aligned incentives: creators are financially rewarded for the success of their tokens (generating direct revenue that can be used to develop their motivating project), scouts are rewarded for "discovering" and promoting valuable ideas, and the platform earns revenue to sustain its operations and development. Creator and scout earnings are accumulated on-chain and can be claimed anytime within the Believe app – the user just needs to link their Twitter/X account to verify identity, and the system then releases the daily percentage of due fees.

In short, the Believe monetization model skips direct charges from users launching tokens (democratizing access) and capitalizes on active trading of these tokens in the market. The maxim “attention becomes capital” well summarizes the philosophy: projects that genuinely attract attention online generate more volume and, consequently, more fees to be distributed between creator and platform. It's worth noting that this innovative model is also a form of crowdfunding: when launching a token, a founder effectively raises capital directly from the community, and the fees collected function as a kind of immediate return on that fundraising. On its part, Believe gains proportionally to the collective success of launches on the platform, aligning its interest with that of its users. Just two days after relaunching as Believe (end of April 2025), the platform recorded about $140 million in trading volume, generating $2.5 million in fees for involved creators – an indicator of the strength of this shared revenue model when the community engages heavily.

Strategic Partnerships and Investors

The project has drawn significant attention within the Solana ecosystem and from prominent crypto investors, although no official announcement of traditional funding rounds exists so far. Instead, validation has come through strategic partnerships, institutional endorsements, and angel investors acting as evangelists. As mentioned, AllianceDAO was one of the first groups to endorse the project: partner Imran Khan not only publicly supported it but also used the platform to issue his own token, demonstrating confidence in the technology. AllianceDAO itself is known for boosting heavyweight projects (dYdX, etc.), and its support helped give Believe credibility among investors. Ben Pasternak, being a member of AllianceDAO, leveraged this network to attract enthusiasts and experienced advisors during the early phase.

Furthermore, the Solana Foundation and Solana community seem to view Believe favorably. Solana’s co-founder, Anatoly Yakovenko, retweeted Believe announcements after the rebrand, indicating indirect backing from the Solana foundation. Other players in the ecosystem, such as the co-founder of Jupiter (a popular DEX aggregator on Solana), also amplified the launch of Believe across networks. This visibility with the base blockchain’s developers (Solana) is strategic, positioning Believe as a promising SocialFi use case on the Solana network, potentially opening doors for future technical or marketing collaborations.

Regarding individual investors, beyond Pasternak and Imran Khan, figures like Nikita Bier (serial entrepreneur whose history includes selling startups to Meta and Discord) became public advocates for Believe. Nikita, who also worked as a consultant for Solana and other tech companies, praised the platform and shared impressive growth data, even calling it a "killer app." While this type of support isn't exactly a financial investment announcement, it counts as a strategic partnership in terms of increasing the project’s reputation and attracting new users/investors based on trust conveyed.

Regarding formal company partnerships or integrations, Believe is still in early development stages. However, important technological collaborations within the Solana ecosystem are already evident: for instance, integration with Meteora (a dynamic AMM curve protocol) for launching tokens and automated liquidity shows alignment with innovative DeFi projects. The platform also draws inspiration from other SocialFi/Meme concepts such as Pump.fun (memecoin launchpad) and FriendTech (tokenization of social profiles), combining these ideas into its final product. We can consider Believe as positioning itself as a hub where various trends converge, making future collaborations likely – for example, we might see partnerships with lending protocols (DeFi) to accept LAUNCHCOIN as collateral or using the token in governance of other projects, as analysts speculate. For now, however, there are no announcements of investments from traditional funds or companies; the focus has been on organic growth via the crypto community. This stance could change if the platform needs to scale and seeks funding rounds, but for now, token-based monetization largely meets most operational needs, as the appreciation of LAUNCHCOIN and retained fees (0.9% of all transactions) provide working capital.

Official Roadmap and Future Projections

With the rebrand to Believe, Ben Pasternak outlined a strategic shift: rather than simply monetizing fan-influencer relationships (as was Clout's original proposition), the platform would empower projects, ideas, and technologies with practical applications, facilitating fundraising through token issuance. This vision was summarized in the phrase "Believe in Something," indicating a move toward impactful projects, approaching a kind of on-chain Kickstarter for startups and creative initiatives. By the end of April 2025, Believe launched its MVP (minimum viable product) embodying this new philosophy and quickly gained traction, as described.

In terms of an official roadmap, as of mid-2025, the team did not publish a traditional timeline with specific dates, but from founder statements and community materials, we can infer several planned developments:

SDK Launch and Developer Expansion: The team intends to release an SDK (software development kit) enabling third parties to build dApps and services integrated with Believe’s social minting mechanics. With this SDK, token creation functionality could be incorporated beyond Twitter/X onto other social platforms or custom apps. The expectation is that this would multiply use cases – for example, mini-games, tipping apps, or educational modules could utilize LAUNCHCOIN or the logic of "launching tokens via posts" in their own contexts. This expansion is seen as a potential driver of exponential growth, possibly bringing tens of thousands of developers and new tokens to the ecosystem if successful.

Multi-chain Expansion (Cross-Chain): Although Believe is currently exclusive to Solana, there is interest in porting the model to other EVM-compatible chains or integrating them via cross-chain bridges. This could allow tokens to be launched on other blockchains (like Ethereum, Base, BNB Chain, etc.) using the same social media response mechanics. A multi-chain presence would diversify the user base and mitigate dependence on a single infrastructure. However, it presents significant technical and regulatory challenges, so it's likely in research/planning stages of the roadmap.

Burn Mechanisms and Token Stability: The team and community discuss introducing supply control and price stability elements for LAUNCHCOIN in the long term. Among the ideas mentioned are community-approved burn programs – for example, burning part of collected fees to make the token deflationary – or bonding mechanisms that create positive pressure on the price. So far, none of these measures have been implemented, but formal proposals may arise via governance. Any such mechanism would aim to sustain token value and reward long-term holders, making LAUNCHCOIN more attractive as an investment beyond speculative appeal.

DeFi Integrations and Partnerships: In the future, we might see LAUNCHCOIN being used as governance or collateral in external DeFi protocols. This is part of a strategy to add use cases for the token outside the Believe platform itself. For example, integrating it into staking pools on decentralized exchanges, in loan markets (allowing loans using LAUNCHCOIN as collateral), or in yield programs on partner platforms. Such integrations would increase demand for the token and interconnect Believe with the broader crypto ecosystem.

UX/UI Improvements and Mainstream Adoption: To attract users unfamiliar with crypto, Believe plans to continue refining the app experience, making the process of creating and trading tokens as simple and user-friendly as possible. This includes improving the mobile app interface (remembering it's currently available for iOS, possibly listed as “fomo — never miss out” on the App Store) and integrating fiat payments or guided tutorials. The goal is to reduce friction so influencers, artists, or small Web2 businesses can use the platform without needing deep knowledge of wallets or DeFi. If they can deliver improved usability, Believe could transcend its memecoin roots and become a pillar of SocialFi innovation, establishing itself as a legitimate community funding tool.

In summary, the future of Believe involves consolidating the platform on Solana (fixing past bugs and enhancing current features) and expanding its reach, either horizontally (new use cases, SDK, more tokens and users) or vertically (more utility and value for the LAUNCHCOIN token itself). The project stands at a crucial point: if it manages to fulfill these promises and maintain engagement, it has the potential to pioneer a new mode of decentralized funding for ideas and startups. Otherwise, it risks being remembered only as a passing hype memecoin wave. The community and team seem aware of this, and the continuous development engagement (with frequent updates since April/May 2025) suggests a commitment to executing the plan solidly.

Exchange Listings, Trading Volume, and Liquidity

LAUNCHCOIN quickly moved from niche Solana DEXs to gain listings on multiple centralized exchanges (CEXs), reflecting recent high demand. Soon after the rebrand and renewed price rally, exchanges like Bitget added the LAUNCHCOIN/USDT pair to their platforms (in the innovation zone), opening deposits and trading as of May 14, 2025. Today, Bitget ranks among the most active markets for LAUNCHCOIN, with the LAUNCHCOIN/USDT spot pair often moving tens of millions of dollars daily (recently around $39 million in daily volume). Other notable CEXs listing the token include XT.com, CoinEx, Bitrue, and WEEX, all offering trading against USDT or other stablecoins. The presence across multiple exchanges facilitated international investor access and increased global liquidity for the asset.

Beyond spot markets, LAUNCHCOIN derivatives emerged: for example, Bybit launched perpetual futures contracts for LAUNCHCOIN with USDT margin, allowing leverage for interested traders. BitMEX was another exchange to announce a perpetual contract for the token (LAUNCHCOINUSDT) with up to 12.5x leverage. This availability of perpetual swaps indicates the asset has reached sufficient capitalization and interest to justify future markets – a sign of maturity and significant trading community attention. It's worth remembering that operating in these derivative markets involves high risk, given LAUNCHCOIN still exhibits pronounced volatility typical of emerging tokens.

In the decentralized universe, LAUNCHCOIN can be traded on Solana's decentralized exchanges (DEXs). The native launch platform integrates with Raydium DEX (including concentrated liquidity version via Meteora CLMM). There is an active LAUNCHCOIN/SOL pool on Raydium, which at last count held around $1.7 million in total liquidity (approximately $980k in LAUNCHCOIN paired with $780k in SOL in the pool). Users can also swap LAUNCHCOIN for SOL or USDC using Jupiter (Solana liquidity aggregator) routing through the best pools, and via other DEXs like Orca. Liquidity on DEXs was strengthened partly by the Believe team injecting ~$10k initially into some pools, but mainly by the large number of active holders trading. With around 24,000 holders and high activity, the token achieved impressive on-chain volumes: by mid-May, 24-hour volume reached $178 million combining DEX and CEX, a ~28% increase compared to the previous day. These numbers place LAUNCHCOIN among the most liquid tokens in the Solana ecosystem and even compared to medium-sized altcoins in the broader market.

At the time of research, LAUNCHCOIN’s market cap hovered around $200 million, having hit a record-high price on May 15, 2025 (around $0.35, before a slight correction). The practically full circulating supply means diluted cap is similar – around $193 million according to Coingecko.com data – positioning the project among the Top 300-400 globally in market value those days. This meteoric rise (remembering it was worth less than $200k in March) highlighted how LAUNCHCOIN became one of the main focuses of the recent SocialFi/memecoin craze on Solana.

Regarding liquidity, besides the previously mentioned decentralized pools, it's worth highlighting that the Believe platform has an automatic liquidity improvement mechanism: once a token grows beyond the initial stage (> $100k market cap), it migrates to more robust Meteora pools. In LAUNCHCOIN’s case, this has already occurred, ensuring smaller spreads and larger orders without excessive slippage. Depth in order books on CEXs has also increased as more arbitrageurs and market makers enter – for example, on Bitget and XT.com pairs reasonably filled books exist. Still, institutional investors should note it's a relatively new and potentially less stable asset, with aggregated liquidity sufficient for medium orders, but possibly insufficient for extremely large ones without impacting the price.

In summary, LAUNCHCOIN today is easily accessible both for Solana DeFi enthusiasts (via Phantom, Jupiter, etc.) and for traders on major international brokers. The diversity of listing locations and high volume signal strong demand and speculative interest around the project in the short term. Maintaining this liquidity and high volumes will depend on the project continuing to deliver innovations and attract users beyond the initial hype.

Community, Social Media, and Engagement

The community around Believe/LAUNCHCOIN is vibrant and grew rapidly fueled by social networks, especially Twitter (X). Since the product’s mechanics revolve around interactions on X, there was intense buzz in Crypto Twitter since the platform's re-release in April. The announcement tweet reached about 590k impressions in a few days, indicating significant virality in crypto circles. Amid the hype, the topic “LaunchCoin” ranked among the most discussed topics on Crypto Twitter, with community members divided between FOMO (fear of missing out, driving purchases) and FUD (doubts and criticisms about sustainability) – literally half euphoric and the other half skeptical, passionately debating the project’s future. This polarization is common in projects growing explosively, but the important thing is it kept engagement high: every piece of news or rumor triggered immediate reactions in thousands of tweets, forum comments, and YouTube videos.

Believe’s official channels contribute to this active communication. On X, there are two main accounts: @believeapp (the official platform account, formerly @cloutdotme) and @launchcoin (the automated account used to launch tokens via replies). The main account provides updates, announcements, and interacts with users – including Ben Pasternak frequently answering questions and sharing thoughts via his personal profile (@pasternak), providing transparency and a strong public face to the project. These accounts’ follower bases rapidly reached tens of thousands. For example, Believe mentioned receiving a flood of interested founders via messages, and Pasternak publicly celebrated saying “we’re going to revolutionize the entire startup ecosystem,” showing ambition and inciting the community.

Outside Twitter, the community organizes in Telegram groups and official Discord servers, where they discuss new launches, clarify doubts, and share real-time updates. Links to Discord/Telegram are available on the official site and within the app, encouraging users to connect directly with the team and each other. These channels already have thousands of members and practically 24/7 activity, due to the global audience. Reports indicate that soon after the rebrand, many new users downloaded the app and joined Telegram seeking information, prompting admins to manage spam and repeated questions (typical when a project trends so fast). Moderation has emphasized security (guiding against common scams, as fake profiles appeared pretending to be Believe support) and guiding newcomers step-by-step through creating their first coins via tweets.

The general crypto community reception has been mixed but trending positive as the project demonstrates resilience. In the first months, many pointed out the $PASTERNAK collapse as an example of meme coin risks, and there was doubt whether Believe could recover. After updates and improvement in LAUNCHCOIN’s value, sentiment seems to have shifted to moderate optimism – opinion polls on CoinGecko showed about 70% bullish sentiment by mid-May. However, discussions on forums like Reddit and technical groups bring cautious notes about risks (see next section). The Believe community tries to balance this by sharing development progress, successful use cases (some launched projects gaining their own communities), and emphasizing the experimental/innovative nature of the app. The presence of influential figures supporting publicly (retweets from Solana executives, AllianceDAO, etc., as mentioned) also helped legitimize the project in the eyes of many skeptics.

In short, Believe thrives in a social media ecosystem, reflected in the community: highly engaged on Twitter, collaborative on Discord/Telegram, and led by a charismatic founder actively participating in conversations. These are essential ingredients to sustain a SocialFi project. The challenge will be converting all this engagement into long-term value and avoiding community dispersal if hype fades – something the team tries to prevent by maintaining a flow of news and listening to user feedback.

Technical Documentation and Whitepaper

The project doesn’t have a static traditional whitepaper but offers various technical and informative resources to understand its functioning. The official website (believe.app) provides a "Believe Builder Playbook," essentially a detailed guide for anyone wanting to launch a project on the platform. In this playbook (updated constantly, latest May 9, 2025), the principles of Believe are explained, step-by-step instructions on how to "coin" a project, tips to engage the community, and compliance/legal guidelines – e.g., recommending creators be transparent, avoid promising financial returns or investment characteristics, to keep their tokens in utility/entertainment territory and away from regulatory issues. It also clarifies the fee structure (confirming the 50/50 split of trading revenue between creator and platform, as previously addressed) and policies against malicious use.

Besides the playbook, Believe maintains a FAQ and documentation section on the website, with frequently asked questions about the LAUNCHCOIN token, app usage tutorials, Solana wallet integration, etc. For instance, FAQs explain the difference between $PASTERNAK and $LAUNCHCOIN (rebranding) and list where to trade (listing CEX/DEX exchanges), how to mint new tokens via X (simply connect your Solana wallet to the app and post on X with @launchcoin and the token name, respecting daily limits), and coverage of governance and burn already mentioned.

The community itself supplemented technical material: exchanges like XT.com and independent analysts published deep-dive articles (on Medium and news sites) explaining Believe's tokenomics and features in detail. These articles serve almost as informal papers, aggregating information from various sources. For example, the XT.com report summarizes total supply, circulation, absence of locks, and key components of the ecosystem (mint, staking, governance) in its key takeaways. Meanwhile, the educational article on CoinGecko’s site titled “What is Believe? Launching Memecoins via X Replies” breaks down the context behind Believe’s emergence, how it differs from common launchpads, and details the flow of launching a token via X reply. These materials were used as sources for this research and can be useful for readers seeking deeper understanding (full references at the end).

In summary, although there is no academic whitepaper, the project fills this gap with practical and transparent documentation online. The philosophy appears to focus on execution and using agile methods (posts, online guides) to explain changes as they happen, rather than a fixed whitepaper that could quickly become obsolete given the product's rapid evolution. For those wishing to follow, the recommendation is to follow the official Believe website and channels to access these live documents and technical updates.

Reputation, Risks, and Growth Potential

The path of LAUNCHCOIN/Believe so far has had highs and lows shaping its reputation. Initially, after the post-launch collapse of the $PASTERNAK token, the project carried negative fame – cited as another example of unsustainable meme coins leaving many at a loss. This bad impression, combined with technical problems (app crashes), led part of the community to view Clout/Believe with skepticism. However, the team’s ability to react by rebranding and restructuring its proposition won praise and regained credibility. Today, after LAUNCHCOIN has appreciated again and the platform shows stable operation, Believe is seen as a bold and innovative SocialFi experiment, albeit not entirely free of controversy. Reputation is mixed: admiration for the concept and Pasternak's figure (a young founder with a track record of success), but also warnings that it's a highly experimental and volatile enterprise.

On the risk side, several stand out:

Volatility linked to social media: Believe’s model essentially depends on social hype as a value catalyst. This means token prices (including LAUNCHCOIN) fluctuate strongly according to Twitter trends and investor sentiment. If a topic falls out of fashion or social engagement cools, corresponding tokens can lose value very quickly, creating liquidity bubbles (voids) difficult to sustain. This risk of sharp volatility was proven by LAUNCHCOIN’s own history – steep rises followed by equally dramatic drops – and will remain an inherent factor. Investors in LAUNCHCOIN are partly betting on the platform's continued popularity and ability to regularly generate new viral cases.

Unbacked launches: Any user can launch a token on Believe, even without a concrete project behind it – the mechanism is "de-projectification," where ideas or even memes get a token before showing any actual delivery. This implies many tokens born on the platform might be purely speculative and ultra-short-term, without dedicated teams post-launch. Indeed, there were numerous influencer tokens on the Clout phase that practically turned into pump-and-dump schemes, harming late buyers. Although pivoting to “Believe in Something” aims to attract more committed founders, the risk remains: investors in LAUNCHCOIN and app users must understand many listed tokens might fail or vanish within days, which could negatively reflect on the platform if becoming routine. It's a reputation and trust risk: if Believe is perceived as a rug-pull factory, its longevity is threatened.

Technical and Operational Risk: Being a relatively new and complex app (integrating off-chain social data with on-chain deployment), Believe faces technical challenges. It already went through infrastructure collapse once, and new bugs or failures can occur as it scales. For example, relying on Twitter/X API for monitoring posts is a vulnerability – Twitter policy changes or service unavailability could interrupt the business model. The team operates leanly, which allows agility but might limit incident response capacity. Long-term, technical robustness (scalability, security against attacks) will be tested as more users join. Any serious security incident, such as exploits in liquidity pools or account compromises, would be disastrous for trust.

Regulatory Uncertainty: Believe operates in loosely regulated territory – permissionless token issuance by virtually anyone. This could attract regulatory attention if any launch violates securities laws (e.g., someone actually uses the platform to sell disguised "investment"). The platform protects itself by advising users not to promote their tokens as investment or return promise, but there's no guarantee everyone follows. In some jurisdictions, the mere functionality could raise suspicion. Additionally, the LAUNCHCOIN token itself could come under regulatory radar if it grows too big, although for now it's categorized as platform utility. In short, there's moderate legal risk that may manifest if governments decide to crack down on SocialFi initiatives or see resemblance to cases like BitClout (a controversial 2021 project that tokenized profiles without consent).

Despite these risks, Believe carries huge growth potential if it can navigate obstacles. It represents one of the first successful implementations of the idea "fund with likes/tweets," and many see in it a glimpse of what internet capital markets might look like in the future. If the platform successfully fosters real projects (e.g., small tech startups, content creators issuing clear-purpose community tokens, etc.) and some of these take off, Believe could gain powerful network effects: quality founders attracting serious investors, who in turn attract more founders. In this optimistic vision, LAUNCHCOIN would stop being just a speculative memecoin and become an asset with fundamental value representing participation in the growth of a new crowdfunding/social media 3.0 model.

Comparisons can be made with Kickstarter/Indiegogo, but with immediate liquidity through tokens; or with FriendTech, but not limited to person tokens – covering ideas and startups. Believe is testing this convergence of social media and DeFi in a novel way. If successful, it might inspire a whole generation of SocialFi apps and establish Solana (or whatever blockchain it uses) as the hub of this activity. Ben Pasternak and collaborators have expressed ambitious long-term visions, suggesting they see Believe as a new paradigm of decentralized venture capital, a "Silicon Valley on-chain" accessible to all.

To reach that future, the project needs to deliver on roadmap promises (SDK, expansion, etc.) and, most importantly, maintain community trust. LAUNCHCOIN’s recent recovery demonstrates trust can be regained, but also reminds how fragile it is – any slip and the market punishes it. For now, Believe enjoys a moment of enthusiasm and curiosity in crypto space. How it capitalizes on this moment will determine whether it enters history as a SocialFi game-changer or merely a short-term hype experiment. The next few months (and launches) will be crucial in defining this.