On June 27, Believe announced the launch of the Believe Builders Fund, aimed at supporting developers and communities with a budget of $1 million over the coming months. The initiative includes fellowship grants, hackathons, and targeted incentives.
Announcement of Believe Builders Fund
Believe, a Web3 SocialFi platform, announced on June 27 the launch of the Believe Builders Fund, which aims to invest $1 million in supporting high-potential developers and communities through fellowship grants, hackathons, and targeted programs.
Declining Activity on the Believe Platform
This announcement comes as platform activity has sharply declined. According to Dune Analytics, token launches on Believe peaked in early May with over 4,000 tokens launched per day. However, daily launches fell below 100 by late June. This trend may indicate that the launch of the Builders Fund is a strategic move aimed at reigniting developer engagement and restoring momentum.
New Security Features for Users
In addition to the Builders Fund, the platform has recently introduced rug protection features to safeguard users. These include both automatic and manual fee blocking on new tokens, as well as a standardized 'BLV' contract address suffix.
The Believe Builders Fund aims to support a growing circle of developers amid declining platform activity. These steps may prove crucial in rekindling interest in Believe and restoring high user activity.
