#369: Believe and the Proliferation of Token Launchpads

Believe, a token launchpad formerly known as Clout, has seen a surge of interest after relaunching on April 28 with a focus on product-based projects rather than individual creators. Since the relaunch, the article reports 15,973 tokens launched, $2.15B in trading volume, and 257k wallets trading Believe tokens, with about $7.7M claimed in fees over the past 24 hours. The author views Believe as part of a wave of new launchpads that may niche down by use case, and argues that the token model carries tradeoffs, with the risk falling mainly on founders, as seen with the Afterhour founder who pulled support for his token the day after launching it.