The post Launch Coin Falls Over 30% as Developers Abandon Current Token Model appeared on BitcoinEthereumNews.com. The team behind LAUNCHCOIN announced it is switching to a new token design and ticker, implying that the current asset is outdated. 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sank more than 30% on Thursday, Oct. 16, after developers said they were scrapping its original model, calling it too outdated to keep up with the growing demands of the Believe ecosystem.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. After that, support for LAUNCHCOIN will cease, and all unclaimed tokens will be burned, according to the official Believe website. LAUNCHCOIN price chart. Source: DEX Screener Shortly after the announcement, the token tanked 34%, falling from $0.1089 on Oct. 16 to $0.07189, per data from DEX Screener. The pivot has raised some eyebrows among token holders, with multiple comments criticizing the team’s plan to increase Launch Coin’s current token supply in the switch. According to the Believe team’s X post, the initial supply of BELIEVE will be set at 1.33 billion tokens, which is about 30% higher than LAUNCOIN’s current circulating supply, and 33% higher than its maximum supply, per CoinGecko — the the Believe team described it as “a 25% increase,” as multiple replies to the post pointed out the discrepancy. Under the new plan, 17% of tokens go to contributors with a four-year vesting and one-year lock, 5% to early investors with a one-year lock, and 3% to the foundation, while any unclaimed tokens will be burned to bring… The post Launch Coin Falls Over 30% as Developers Abandon Current Token Model appeared on BitcoinEthereumNews.com. The team behind LAUNCHCOIN announced it is switching to a new token design and ticker, implying that the current asset is outdated. 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sank more than 30% on Thursday, Oct. 16, after developers said they were scrapping its original model, calling it too outdated to keep up with the growing demands of the Believe ecosystem.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. After that, support for LAUNCHCOIN will cease, and all unclaimed tokens will be burned, according to the official Believe website. LAUNCHCOIN price chart. Source: DEX Screener Shortly after the announcement, the token tanked 34%, falling from $0.1089 on Oct. 16 to $0.07189, per data from DEX Screener. The pivot has raised some eyebrows among token holders, with multiple comments criticizing the team’s plan to increase Launch Coin’s current token supply in the switch. According to the Believe team’s X post, the initial supply of BELIEVE will be set at 1.33 billion tokens, which is about 30% higher than LAUNCOIN’s current circulating supply, and 33% higher than its maximum supply, per CoinGecko — the the Believe team described it as “a 25% increase,” as multiple replies to the post pointed out the discrepancy. Under the new plan, 17% of tokens go to contributors with a four-year vesting and one-year lock, 5% to early investors with a one-year lock, and 3% to the foundation, while any unclaimed tokens will be burned to bring…

                                                                               Wormhole’s native token has had a tough time since launch, debuting at $1.66 before dropping significantly despite the general crypto market’s bull cycle.                     Wormhole, an interoperability protocol facilitating asset transfers between blockchains, announced updated tokenomics to its native Wormhole (W) token, including a token reserve and more yield for stakers. The changes could affect the protocol’s governance, as staked Wormhole tokens allocate voting power to delegates.According to a Wednesday announcement, three main changes are coming to the Wormhole token: a W reserve funded with protocol fees and revenue, a 4% base yield for staking with higher rewards for active ecosystem participants, and a change from bulk unlocks to biweekly unlocks.“The goal of Wormhole Contributors is to significantly expand the asset transfer and messaging volume that Wormhole facilitates over the next 1-2 years,” the protocol said. According to Wormhole, more tokens will be locked as adoption takes place and revenue filters back to the company.Read more