$LAUNCHCOIN plunged over 30% after BelieveApp, the Solana-based token launchpad, announced its migration to a new token, $BELIEVE, with redesigned tokenomics.
The news triggered a wave of panic selling, wiping out short-term gains and sparking heated debate among Solana meme coin traders.
Migration Sparks Sell-Off
The drop followed BelieveApp’s official post on X confirming the migration.
The migration, which is now live and will remain open until Wednesday, October 29, replaces the old $LAUNCHCOIN structure with a new system under $BELIEVE.
According to BelieveApp, the redesign aims to improve long-term sustainability.
But that goal didn’t calm traders. Within hours of the news, $LAUNCHCOIN tumbled more than 30%, reflecting investor uncertainty over conversion mechanics and supply expansion.
From Clout to BelieveApp
Founded by Ben Pasternak, BelieveApp began its journey as Clout, a social experiment that evolved into one of Solana’s most innovative launchpads.
The platform lets users deploy tokens directly through X replies, no wallet setup, no coding.
That simplicity turned BelieveApp into a viral tool during Solana’s meme coin frenzy, dramatically lowering entry barriers and onboarding thousands of new users.
However, that same accessibility brought problems. The original $LAUNCHCOIN design failed to anticipate the long-term needs of an expanding ecosystem.
Speculation spiked during the token’s earlier rebrand from $PASTERNAK to $LAUNCHCOIN, and flaws in its supply mechanism became apparent as liquidity thinned.
The BELIEVE Upgrade
BelieveApp’s team said the BELIEVE migration was a necessary overhaul.
The new $BELIEVE token introduces a redesigned allocation model and supply expansion meant to support ecosystem growth.
- Total Supply: 1.33 billion BELIEVE, a 25% increase from $LAUNCHCOIN.
- Contributors: 17% allocated to current and future contributors.
- Investors: 5% reserved for early backers.
- Foundation: 3% allocated to advance ecosystem initiatives.
Contributor allocations will vest over four years with a one-year lock, while investor allocations are locked for a year.
Foundation tokens enter circulation immediately to fund ongoing development.
At the end of the upgrade, any unclaimed tokens will be permanently burned, potentially reducing supply toward 1 billion BELIEVE.
Meteora-Backed Liquidity and New Fee Model
The migration also introduces deeper liquidity mechanisms via Meteora, Solana’s leading dynamic liquidity protocol.
By aligning with Meteora, BelieveApp expects fairer liquidity injections and smoother fee structures, addressing the volatility that plagued $LAUNCHCOIN.
Developers claim this setup will stabilize the token’s depth and create healthier trading conditions.
Still, the short-term pain is evident.
For existing holders, the migration means uncertainty over conversion ratios, potential slippage, and wallet compatibility.
Community Reaction and Panic
The immediate community response has been mixed.
While developers hailed the move as “long overdue,” many traders viewed it as a red flag.
Discussions on X reflected frustration over the sudden change, with some comparing it to a stealth token reset.
@DefiantNews captured the market’s reaction in real time.
Within hours of the post, liquidity pools saw rapid outflows as holders rushed to exit before migration details settled.
End of LAUNCHCOIN Support
BelieveApp confirmed that once the migration window closes, $LAUNCHCOIN will no longer be supported or maintained.
That means exchanges, dApps, and wallets linked to the token will gradually remove integration.
Holders are urged to review the upgrade details carefully and migrate before the October 29 deadline.
Failure to migrate will leave tokens effectively stranded, with no future redemption or support.
Ecosystem Implications
Inside the Solana ecosystem, this event underscores a familiar truth: meme coin projects live and die by community confidence.
Unlike traditional DeFi protocols, meme-based launchpads rely on viral energy and user participation, both of which can evaporate overnight when structural changes occur.
The migration highlights the thin line between innovation and instability.
While $BELIEVE aims to fix $LAUNCHCOIN’s flaws, the abrupt execution rattled confidence across Solana’s meme launch scene.
Similar projects may now face closer scrutiny, especially those still tied to early liquidity gimmicks or opaque tokenomics.
Short-Term Pain, Long-Term Play
Short term, sentiment across the Solana meme coin sector remains negative.
$BELIEVE’s rollout has sparked caution even among rival launchpads, as traders hedge against further volatility.
But in the long term, if BelieveApp manages to attract fresh liquidity and rebuild trust, $BELIEVE could mark a new phase for decentralized launchpads on Solana.
The inclusion of transparent vesting, improved liquidity design, and active governance gives the project a stronger foundation than its predecessor.
Innovation Meets Risk
The LAUNCHCOIN-to-BELIEVE transition perfectly captures DeFi’s dual nature, rapid innovation matched by rapid risk.
While some see it as a much-needed reset, others view it as a cautionary tale about decentralized governance and investor protection.
The takeaway?
Projects must design tokenomics that grow with the ecosystem, not against it.
And holders must stay alert in spaces where upgrades can reshape entire assets overnight.
As the October 29 deadline approaches, all eyes are on BelieveApp and its ability to turn the crash into a comeback.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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Source: https://nulltx.com/launchcoin-tanks-as-believeapp-migrates-to-believe/
