Original title: The explosion of Believe platform: mastering the first principle and buying at a low value
Original author: yuyue, crypto KOL
4/29 It has been exactly half a month since I first called @believeapp’s platform coin. Some friends are still not optimistic about Launchcoin because of clout. Friends who don’t know can take a closer look at my four tweets. I wrote down the logic in the tweets. Other scattered thoughts are also posted on Twitter and mentioned in the live broadcast. This is the full path to discovering the value depression
【4/29】First, the most important question is, why does the clout pivot not affect my judgment on Launchcoin, also known as the @believeapp platform?
I mentioned this in my tweet on April 29. The reason why I want to buy PASTERNAK (Launchcoin before it was fully renamed) again is:
"Today's two little golden dogs $DUPE $SUPERFRIEND are both launched on @believeapp's platform, a new meme launcher formerly known as clout me, incubated and supported by @alliancedao. Today, the combined market value of the two golden dogs is 10M, while the platform coin itself is at a high point of 80M, and the current platform coin is only 5M." Yes, I told you clearly from day 1 that its predecessor was clout. The logic of buying again is because group member @0xEdwin999 discovered that it was renamed $LAUNCHCOIN, which obviously looks like a platform coin, but the empowerment is not clearly stated. When the two new golden dogs are casually pulled to almost 10m, and the platform coin is only 6m, isn't this the best opportunity to buy? There is a clear value mismatch, and this is a value depression.
4/29 tweet link: https://x.com/yuyue_chris/status/1917061019802997068…
【5/4】Why did you continue to buy Launchcoin for the second time? It was largely because the meme launched on boop was cut
The core logic is that the middle section of 100 1M is much easier than 1 100M - no need for Long Yi "Think about it, the tokens we buy on letsbonk and boop are basically related to "this is strongly associated with bonkguy" and "this interacts with dingaling", and the degree of centralization is difficult to get rid of in a short period of time. Instead, it will shackle the upper limit of the platform. The initial traffic is good or bad... This is completely different from the current new platform's approach on the market... If @pasternak can attract an AI founder who can operate and handle things, then he is equivalent to digging out the Bole of New Era DK (founder of Luna). Perhaps only this kind of decentralized traffic can open the ceiling of tokens on the platform. "Platform coins are fed back by revenue and Golden Dog income, and non-platform coins create the upper limit of tokens on the platform."
Launchpad, after all, is used to launch projects, and it needs to rely on revenue to effectively support the logic of the platform. People think that pumpfun is awesome not because pumpfun issued coins, but because it unified the measurement and made all the gold dogs come from its platform.
At that time, I also knew that this idea was a slow cook and might not be fully verified by the market. It was a true first-level investment thinking. I directly bought his FDV platform currency with only 6M. Compared with other launchpads, especially the 500M boop that just came out, 6M undoubtedly has nearly 100 times the room for growth. There is a clear value benchmark, which is a value depression.
Since then, Launchcoin has been washed to 2M at one point.
5/4 Tweet link: https://x.com/yuyue_chris/status/1918821240028205271…
【5/12】Internet capital market, Solana core circle and European and American circles want to lead the new narrative surfaced
At this time, from the perspective of platform coins, the first thing I noticed was that "$DUPE went to 20M+". So I emphasized his platform revenue logic again: "This target is very cost-effective, because it is a Launchpad with a current FDV of only 6M - it has a reputation in the crypto circle, is incubated and supported by alliance dao @alliancedao, and the founder can bring in high-quality AI founder resources."
While posting the article, I also found that Solana’s core figure @rajgokal, one of Solana’s co-founders, Solana Labs COO, and the version god in the AI craze @himgajria were all discussing the concept of Internet capital market. BTC has returned to 100,000, but the market is lifeless. Altcoins are rising meaninglessly without fundamentals. This market undoubtedly needs new narratives, new concepts, and new words. At that time, I realized that this new word and new concept might be the new narrative that Solana’s core circle and the European and American circles wanted to lead, exploring a decentralized way to raise funds and put real equity and real assets on the chain. This is similar to the ideas of RWA that I mentioned in recent months and the previous pinned article (Let fair opportunities happen on the chain: AI Agent brings about narrative changes on the chain, transfer of discourse power, positive changes in the industry, and enlightenment of primary market investment). So I even told Li Zhuang that I added an amount when I broke through 20M. At that time, Launchcoin was 22M, and the concept of Internet capital market had just surfaced, so it was still a value trough.
5/12 Tweet link https://x.com/yuyue_chris/status/1921673165056708707…
【5/13】When the new narrative comes, be the first to believe, the cryptocurrency world needs dreamers
“This new platform @believeapp is a decentralized YC incubator, a version of ai16z.”
"The experience of clout, the predecessor of @pasternak's product, was not very good, which led to prejudice against believe. However, the founders did not have to be responsible for issuing a new platform coin for the old coins. When they kept pivoting and exploring new directions, they could still insist on exchanging old coins for new coins. This shows that they are not the type who want to run away after collecting a wave of money." While biased against Launchcoin, don't forget that Virtual @virtuals_io also transformed from pathdao, a blockchain game union, to the current AI Agent Launchpad leader. The market should recommend those who persist, rather than those who keep issuing new plates after the old projects run away. I also came into contact with @everythingempt0 in the earliest stage of Virtual, but I missed the opportunity by mistake. Before the AI craze came, no one thought that FDV 15M could reach 2B today.
When a new narrative comes, be the first to believe. The cryptocurrency world needs dreamers. The rise at this time is more based on the optimism of the big market, the optimism of the new narrative and sentiment. Of course, you can also say that I am blindly fomo, but my cost advantage is already dozens of times. When sharing logic and project updates, the buy button is in your own hands. The price was less than 100M at the time. Whether it is a value depression requires imagination.
5/13 tweet link: https://x.com/yuyue_chris/status/1922197239168172544…
I have mentioned my thoughts on @believeapp platform, what the new platform needs, and other related thoughts in my tweets in the past few days. When the entire path of Launchcoin's outbreak has clear signals and logic, the new narrative created is a kind of conspiracy. Because even if I don't know @alliancedao and the core circles in Europe and the United States, I can still catch a hundred times at a low level through clues, grasp the first logic of assets and revenue, and buy in the value trough.
In any case, investing is all about buying low and selling high.
This article is contributed by a contributor and does not necessarily represent the views of BlockBeats.
