Laintcoin, the native token of Believe Launchpad, has skyrocketed after founder Ben Pasternak announced a series of updates surrounding fee distribution and transparency.
Pasternak has revealed a new billing system that will block fees for the first 24 hours of new token launches. The follower team also reserves the right to block new coin charges to discourage fraud and dishonest attempts to launch tokens.
The update also features new initiatives to increase the health of public coins, a display of creator revenues, and a percentage of tokens launched via iOS-compatible applications rather than through social media. According to Pasternak, “Currently ~1% of the coins are on sale via the app, and it’s nearly 100% by EOM.”
Tokens have increased by 35% with a market capitalization of $0.18, or $183 million since the update. It reached a low of $0.1 on June 1st.
Launchcoin Chart – Coingecko
The community sees this move as a step in the right direction. Many participants on Crypto Twitter have requested responses to all fraudulent tokens and a token buyback flywheel mechanism.
This update could significantly address the issue of fraud tokens.
Pasternak is roughly working on request for a token repurchase flywheel, teasing the community with a photo of the winged wheel on May 26th. However, changes in actual talknomics have not yet been implemented.