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Believe, a SocialFi memecoin launchpad, has introduced new security features aimed at safeguarding users from rugpulls and scams. These updates include automatic and manual fee blocking for new tokens, along with a standardized “BLV” contract address suffix to enhance transparency and trust.

New Security Features to Prevent Rugpulls

The platform has implemented automatic fee blocking for the first 24 hours after a token launch. This measure is designed to prevent immediate sell-offs, a common tactic in rugpull schemes. Additionally, manual fee blocking is now available for any new token, enabling users to flag and report suspicious projects more effectively.

To further improve security, all token contract addresses on Believe now end with the suffix “BLV.” This standardized identifier allows users to easily verify tokens launched on the platform, similar to how other platforms use unique contract address patterns for identification.

Upcoming Features and Platform Optimizations

Within the next 24 hours, Believe plans to roll out new features, including a public display of token health status and creator fee earnings. These updates aim to enhance transparency for users. The platform is also optimizing its iOS token release process, which is expected to significantly increase the proportion of tokens launched through the app—from 1% currently to nearly 100% by the end of the month.

How Believe Works

Believe, formerly known as Clout, operates as a Web3-based SocialFi platform. It allows users to create and launch tokens through social interactions on X (formerly Twitter). Users can create tokens by tweeting details and tagging the platform’s launch command, which triggers automatic token creation.

Tokens launched on Believe initially trade on a bonding curve. Once their market cap reaches $100,000, they graduate to Meteora, a more advanced trading stage. At this point, trading fees are split 50/50 between Believe and the token creator. Creators can claim their earnings daily by linking their X account to the Believe app.

The Role of LAUNCHCOIN

LAUNCHCOIN, originally known as PASTERNAK coin, remains closely tied to Believe through its founder, Ben Pasternak. Although not officially the platform’s native coin, its rebranding alongside Believe has sparked speculation about its future role in the ecosystem.

Following its rebranding, LAUNCHCOIN saw a significant price surge, with its market cap jumping from $10 million on May 12 to over $240 million by May 14. However, it has since retraced to $142 million, reflecting market corrections.

Key Takeaways for Users

For investors and enthusiasts in the cryptocurrency space, the new updates on Believe provide enhanced security and transparency. Here’s a quick summary of what to expect:

  • Automatic Fee Blocking: Prevents immediate sell-offs in the first 24 hours after a token launch.
  • Manual Fee Blocking: Allows users to report suspicious projects quickly.
  • BLV Suffix: Ensures easy identification of tokens launched on the platform.
  • Upcoming Features: Public display of token health status and creator fee earnings for greater transparency.

Whether you’re a beginner or an intermediate investor, these updates offer a safer environment for exploring the world of memecoins and SocialFi tokens.

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