Believe memecoin launchpad unveils $1M Builders Fund amid declining platform activity

Believe memecoin launchpad has unveiled $1million Believe Builders Fund to back builders and communities through various initiatives.

On June 27, Believe, a Web3 SocialFi platform enabling token launches via social interactions on X, announced the launch of the Believe Builders Fund. The initiative commits $1,000,000 over the coming months to support high-potential builders and communities through fellowship grants, hackathons, and targeted incentives.

This announcement comes amid a sharp decline in platform activity. According to Dune Analytics, token launches on Believe peaked in early May with over 4,000 tokens launched per day. However, activity steadily declined throughout the month and into June, with daily launches dropping below 100 by late June.

This trend suggests the Builders Fund may be a strategic move to reignite developer engagement and restore momentum.

LAUNCHCOIN, the token closely tied to Believe through its founder Ben Pasternak — who created both the platform and the token — has also seen a sharp decline, shedding nearly 50% of its value in the past month. It’s market cap currently stands at $95 million, 70% down from the peak of $312 million on May 15.

The token’s market cap surged from $10 million on May 12 to over $240 million by May 14, driven by hype after Alex Leiman — creator of viral apps like RizzGPT and Astra — launched NOODLE, a crypto token for a game on the Believe platform. The price spike also aligned with Believe’s peak activity, with nearly 5,000 tokens launched on May 13 and 14.

In addition to announcing the Builders Fund to revive developer activity, the platform recently introduced rug protection features to safeguard users from rug pulls and scams. These include automatic and manual fee blocking on new tokens and a standardized “BLV” contract address suffix.