@pasternak

Chat is my favorite feature we’ve shipped since Believe launched. Most creators and their communities don’t really know what coins are / what they’re for. To bridge that gap, we need a “one size fits all” model that makes the concept easy to understand. Believe Chat feels like the closest anyone has come to that, and this is only a v1. I’ll be active in the Believe and Pasternak chats on the app. Come talk to me there!

When I launched the original Pasternak coin on Clout (which later was rebranded to Launch Coin) back in January, I had never even purchased a Solana coin before. My belief at the time was that creators should only profit from trading fees rather than selling their own coin. As a result, no one on the team, including me, received supply in Pasternak / Launch Coin at launch. Believe has grown into a serious platform. We’ve done over $6B in volume. At its core, contributors must have incentives that are aligned with holders. Unlike many other companies, there was no massive insider allocation weighing down supply while the protocol searched for product-market fit. We took the opposite approach: we built first, proved traction, and now the ecosystem needs a stronger foundation. A few points to clarify: 1) The new supply is 1.33B, so 333M more tokens than with $LAUNCHCOIN, the 25% figure represents the total new supply allocated across current and future contributors, investors, and the Believe Foundation. This should have been communicated more clearly in our initial post. 2) All lockup timers start today at the earliest, regardless of existing contributions to Believe. 3) The Foundation allocation is unlocked but will be exclusively used to support $BELIEVE. The Foundation will not sell any of this 3%. Its operating runway will be exclusively funded via Believe protocol fees, and any additional $BELIEVE needed for its operations will be acquired on the open market. Both of these are much more aligned models than most other foundations. 4) There is four weeks upgrade to $BELIEVE. It will be extended if necessary. There is no ill intent in expediting the migration, we just want to launch the flywheel ASAP. Our belief is that much of the supply of the old coin is allocated to dead wallets given the complex history of the old coin. A significant portion of existing revenue will be used to buy $BELIEVE onchain. The flywheel will begin at the end of the upgrade period (October 29), which will drive even more revenue into buybacks. I have never been more excited about Believe. Solving this problem was a huge time drain and what some would call “tech debt.” Now that it is behind us, we can focus on what really matters: new features, new launches, new mechanics, and more content / comms. I want to thank everyone who is believing in Believe!

$BELIEVE was created from the ground up to support and advance our ecosystem. The next few weeks are stacked with big moves. Very excited. LFG! I’ll be on X throughout the day answering your questions about $BELIEVE and the Believe ecosystem.

Inspiring story shared by a Believe founder. Broke and living with his parents, faced with the choice of raising venture capital or launching on Believe. He chose Believe, and his latest project has generated $3M in revenue over the past 48 hours. Congrats!

I recommend only supporting Believe projects that you genuinely believe in, meaning ones you could see yourself holding for at least a few months. Rather than rushing to buy in early, take the time to research the founder, who they are, what they have built before, and why they are building this project now. Thank you for your attention to this matter.