Launch Coin Falls Over 30% as Developers Abandon Current Token Model

The price of Launch Coin on Believe (LAUNCHCOIN) sank more than 30% on Thursday, Oct. 16, after developers said they were scrapping its original model, calling it too outdated to keep up with the growing demands of the Believe ecosystem.

In an X thread yesterday, the Solana-based token launchpad said that the original design of the LAUNCHCOIN token “didn’t anticipate the long-term needs of the Believe ecosystem,” announcing an upgrade to a new token called BELIEVE.

Per the announcement, under the upgrade plan, LAUNCHCOIN will eventually be phased out after a two-week swap window, ending Oct. 29, though a final claim period remains open until Nov. 12.

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