Editing Launch Coin

**Launch Coin** (ticker **LAUNCHCOIN**) was the native token of Believe, a [[Solana]] token launchpad founded by [[Ben Pasternak]] on which users create tokens by replying to an X account.[^1] It began in January 2025 as **PASTERNAK**, peaked at $0.35 in May 2025, and was replaced in October 2025 by a new token, **BELIEVE**, whose contract is the current one.[^2][^3]

## Lore
Pasternak co-founded the plant-based food company Simulate in 2018, sold it in October 2024 and launched his first crypto token the following January.[^2] On Believe, a reply of "@launchcoin + TICKER" creates a token on a [[Bonding curve|bonding curve]], which moves to a [[Meteora]] AMM pool once its market cap passes $100,000; a 2% fee on each trade is split between Believe and the token's creator.[^1] Believe's documentation said its tokens "must never represent equity".[^1]

LAUNCHCOIN rose from a $12 million to a $344 million market cap between 12 and 15 May 2025, a 2,766% gain in four days, as Believe drew launches away from [[pump.fun]].[^1] Its price peaked at $0.35 that month.[^2]

In October 2025 the team announced a new token design and ticker, and LAUNCHCOIN fell more than 30%.[^4] Holders could swap 1:1 into BELIEVE; MEXC gave the old contract as Ey59PH7Z4BFU4HjyKnyMdWt5GGN76KazTAwQihoUXRnk and the new one as BLVxek8YMXUQhcKmMvrFTrzh5FXg8ec88Crp6otEaCMf.[^3] KuCoin snapshotted balances on 24 October and completed its conversion on 31 October 2025.[^5] By April 2026 the BELIEVE token was down about 99.7% from the May 2025 peak.[^6]

## Timeline
- 2025-01-24: PASTERNAK token begins trading[^2]
- 2025-05-15: market cap reaches $344 million after a four-day 2,766% rise[^1]
- 2025-10-15: migration to BELIEVE announced; LAUNCHCOIN falls over 30%[^4]
- 2025-10-22: MEXC announces 1:1 swap and new contract[^3]
- 2025-10-29: migration deadline for on-chain holders[^2]
- 2025-10-31: KuCoin completes conversion[^5]
- 2026-03-23: class action filed against Pasternak[^2]

## Controversies
A class action, *Lee v. Pasternak*, was filed on 23 March 2026 in the US District Court for the Southern District of New York.[^2] It alleges that Pasternak claimed "zero ownership" of Believe's tokens while collecting creator fees, broke at least 12 public buyback promises, and ran the same scheme across PASTERNAK, LAUNCHCOIN and BELIEVE; it estimates about $6 billion in platform volume and $54 million in fees.[^2] The complaint also alleges that the migration created 333 million new tokens for insiders, diluting holders by about a third, and that the tokens of holders who did not migrate were destroyed.[^6] The claims have not been ruled on; Believe did not respond to requests for comment.[^2]

## See also
- [[Useless Coin]]
- [[Housecoin]]
- [[Chillhouse]]
- [[Comedian]]
- [[Butthole Coin]]
- [[Unipcs]]
- [[LetsBonk]]
- [[Raydium]]

## References
1. [Jito validator tips hit $3.6 million daily as Believe ecosystem siphons activity from Pump.fun](https://www.theblock.co/post/354859/jito-validator-tips-hit-3-6-million-daily-as-believe-ecosystem-siphons-activity-from-pump-fun), The Block, 2025-05-19
2. [Founder of Solana Token Launchpad Believe Arrested on Assault, Strangulation Charges](https://decrypt.co/365292/founder-solana-token-launchpad-believe-arrested), Decrypt, 2026-04-23
3. [MEXC to Support the Launch Coin on Believe (LAUNCHCOIN) Token Swap and Rebranding to Believe (BELIEVE)](https://www.mexc.com/announcements/article/17827791531064), MEXC, 2025-10-22
4. [Launch Coin Falls Over 30% as Developers Abandon Current Token Model](https://thedefiant.io/news/tokens/launchcoin-price-drops-as-developers-switch-to-believe-token), The Defiant, 2025-10-15
5. [KuCoin Has Completed the Token Swap and Rebranding of Launch Coin on Believe (LAUNCHCOIN) to Believe (BELIEVE)](https://www.kucoin.com/announcement/my-kucoin-has-completed-the-token-swap-and-rebranding-of-launch-coin-on-believe-launchcoin-to-believe-believe), KuCoin, 2025-10-31
6. [SocialFi app Believe founder arrested on strangulation charges following rug pull lawsuit](https://www.theblock.co/post/398532/believe-founder-arrested-strangulation), The Block, 2026-04-22
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