1. Believe
Believe
Believe is a token issuance platform founded by Ben Pasternak. It was formerly known as Clout.me and focuses on the celebrity token issuance model. After the subsequent brand upgrade, the project will focus on the field of social assetization. The core mechanism is that users only need to post tweets with the format of $TICKER+NAME and @launchcoin on X, and the system will automatically evaluate their social influence through algorithms, triggering the decision-making process of smart contract deployment of tokens. The tokens that pass the review will first enter the joint curve issuance stage, and at the same time receive a $10,000 seed fund provided by the platform to support the founding team. When the project market value exceeds the $100,000 threshold, the token will enter the liquidity enhancement stage and obtain deep market-making support by migrating to the Meteora protocol.
According to the official economic model, the platform sets a 2% transaction fee, token creators receive 1% of the creation incentives, community evangelists receive 0.1% of the rewards, and the remaining 0.9% is used as a platform maintenance fund. This tiered income structure not only protects the core rights and interests of content creators, but also builds a community dynamic mechanism for the early dissemination of the project, while providing financial support for the sustainable development of the platform.
Believe Popular Projects
1. LaunchCoin
As the core token of the Believe ecosystem, LaunchCoin is an upgrade of Ben Pasternaks early project PASTERNAK token, which fully carries the brand evolution path from Clout.me to the Believe platform. LaunchCoin set a record of $80 million in market value on the first day of its launch. After experiencing market fluctuations, it started a strong recovery on May 11. It now has a market value of $330 million, a 40-fold increase from the initial issuance, and the number of coin holding addresses has exceeded 27,000.
2. Dupe
Based on the ecological token of furniture replacement search engine Dupe.com, the official Instagram of Dupe platform has 367,000 followers and more than 1 million monthly active users. The market value of the token has reached a peak of 70 million US dollars and currently maintains around 34 million US dollars.
3.Goonc
GOONC tokens issued by Pata van Goon, an engineer from the OpenAI technical team, quickly became popular with the endorsement of technical elites. The market value of the token once soared to a high of 70 million US dollars, and now stabilized in the range of 45.5 million US dollars.
2. LetsBonk.fun
Introduction to LetsBonk.fun
LetsBonk.fun is a meme token issuance platform jointly launched by BONK, the top meme project in the Solana community, and Raydium. It is positioned as the LaunchPad + creator incentive platform of the Solana ecosystem. The platform was officially launched on April 26, and has recently gained popularity driven by meme projects such as Hosico, Useless, and IKUN. Its token issuance mechanism allows users to easily deploy tokens through the one-click token issuance function in the application, but there is a liquidity threshold of ≥ 2 SOL, which can be listed on Raydium for trading after it is met.
LetsBonk.fun Revenue Model
In terms of transaction fees, a 1% handling fee is charged for each transaction on the platform, which is used to develop the fund pool, BONKsol validators, and repurchase and destroy BONK. LetsBonk.fun uses 35% of its revenue to repurchase and destroy BONK to achieve a deflationary model, 30% to purchase and pledge BONKsol to maintain network security and liquidity; 19.2% is allocated to the ecological construction fund, 7.6% is used for strategic reserves, and the rest is allocated to technical development and operations (recruitment/growth and development/integration each account for 7.6%), and 12% is invested in user incentives and promotion, including 4% BonkRewards, 4% marketing, and 4% support for community governance (SBR). From the data trend, from April 29 to May 15, the platforms daily revenue soared from about 2,000 SOL to 24,000 SOL, an increase of more than 12 times, of which the token was close to 50,000 times on May 15 (an increase of 233% over the average level).
LetsBonk.fun Popular Projects
1.Hosico
The prototype of Hosico is a cute cat with 1.8 million fans on Instagram. It was issued on BONK in the style of Ghibli AI. After the token was launched at 4 a.m., the market value reached 10 million U.S. dollars within 1 hour. As the popularity increased, the high point exceeded 60 million U.S. dollars. The current market value is 22 million U.S. dollars.
2.USELESS
USELESS comes from a tweet posted by BONKGUY on X: This is a useless currency and should not be pushed up. With this narrative style of empty ideas and emotional concepts, it quickly became popular. Since BONK went online, its market value has grown to 34 million US dollars and is now 24 million US dollars.
3. Analysis of competing products such as Believe, LetsBonk.fun, and Pumpfun
Believe is unique in that it is based on the X platform token issuance mechanism and the project party cannot make any pre-orders before the token is officially issued. It can only be purchased through secondary market transactions or social tags. Its transaction fees are reasonably distributed and no issuance fee is charged, but a high threshold of about 85 SOL is required, which may slow down the start of liquidity. Letsbonk.Fun supports dual issuance of tokens on the issuance platform and X, and is deeply bound to the BONK token; after the liquidity provider exits, 10% of the fees will be returned to incentivize the deployer. However, its pre-order ratio of up to 80% may lead to an increase in the concentration of token holdings.
In general, these two models have not brought revolutionary innovation to the existing MEME distribution platform in terms of distribution mechanism, but have only optimized the distribution method and additional functions. Although they have recently seized part of Pumpfuns market share in terms of daily MEME distribution, there is still a big gap compared with its overall scale.
Daily new MEME issuance:
IV. Future Development
There are a large number of homogeneous token issuance platforms in the current MEME market. These platforms may seize some of the market heat of PumpFun in the short term, but when the hot money brought by the short-term heat fades, the sustainability of the project is an important indicator for market testing. Judging from the current mechanism and market performance, Believe and LetsBonk.fun have made great optimizations in the issuance method and ecological cooperation respectively. Believes issuance of coins on X has greatly simplified the issuance process of MEME, while LetsBonk.fun is deeply bound to Bonk to form an ecological linkage. As market sentiment gradually cools down, investors enthusiasm will continue to decline and more similar competitors will appear in the market. Whether Believe and LetsBonk.fun can continue to maintain their popularity depends on whether they can come up with new innovations or incubate Meme assets that truly have a wealth effect.
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