Believe Launchpad U-Turns on Listing Rules Following Community Pushback

Believe, the Solana-based meme coin launchpad, recently adjusted its token listing policy, which has drawn significant attention from the community. 

With a trading volume of $3.1 billion and over 400,000 traders, will these changes help Believe capture more market share in the future?

Changes in Believe’s Listing Policy

In its May 22 announcement, Believe stated it would pause automatic token listings on the Launchcoin account. Instead, the platform would shift to manual reviews to ensure project quality. The new policy requires projects to be submitted via Believe’s website and undergo a rigorous evaluation process, similar to the App Store’s model.

Additionally, Believe introduced a “Verified” label to replace the “Featured” tag. This label aims to validate projects built with serious intent, though it does not fully guarantee their legitimacy.

However, two hours later, in a surprising announcement, Believe scrapped the review process, allowing projects to list instantly again. Furthermore, for projects without an active or soon-to-be-active product, or those that appear purely extractive, Believe stated it would block creators from claiming fees.

The platform also announced it would rely on community feedback to enforce this, with plans to integrate this mechanism into the platform in the future.

Believe’s Performance in the Meme Coin Space

Believe’s frequent policy changes reflect its efforts to balance rapid growth with project quality. According to Dune Analytics, Believe has achieved a total trading volume of $3.1 billion, making it one of Solana’s largest meme coin launchpads.

Its share of daily active addresses stands at 22.9%, trailing only Pump.fun (67.8%). This highlights Believe’s explosive growth in the meme coin sector, particularly as the platform has propelled tokens like LAUNCHCOIN to a $200 million market cap. Much of this growth stems from Believe’s unique listing mechanism.

However, these rapid changes also pose challenges. The initial pause on automatic listings aimed to filter out low-quality projects. But the quick reversal after just a few hours suggests pressure from the community and intense competition with rivals like Pump.fun.

Several X users shared their views on these new improvements on Believe. 

“Your second point suggests that your earlier “FEATURED” section was essentially promoting your friends’ projects with maximum bias,” an X user shared.

Some other opinions say that projects listed on Believe are easily “sniped” by a few big investors, making it difficult for ordinary users to have a fair chance to participate. 

“Only good projects gonna get launched now but will also be sniped to shit by 2-3 people. Not much winning in this situation, down to see how it plays out though,” another user posted on X.

Moreover, relying on community feedback to regulate project quality could introduce risks without a clear mechanism, especially in the volatile and manipulation-prone meme coin market.