Believe, formerly known as Clout, has rolled out new security features aimed at protecting users from scams and rugpulls on its memecoin launchpad.
New Security Features of Believe
Believe has implemented automatic fee blocking for the first 24 hours after a new token launch, designed to deter immediate sell-offs that often lead to rugpulls. Manual fee blocking is also available for any new tokens, encouraging users to report suspicious projects promptly.
Standardization of Token Addresses
All token contract addresses created on the Believe platform now end with 'BLV', making it easier for users to identify tokens launched on the platform, similar to how certain memecoins have their suffixes.
Upcoming Platform Updates
In the next 24 hours, Believe also plans to publicly display token health status and creator fee earnings, along with optimizations to its iOS token release process. This is expected to increase the proportion of tokens released via the app from 1% to nearly 100% by the end of the month.
The Believe platform continues to evolve by implementing security features to safeguard users. These innovations could help mitigate risks associated with new token launches.
