I have been very negative about #launchcoin and @pasternak but I do actually quite like it here, especially at these valuations. I'm starting to build a position here again.
My thinking:
@pasternak has 30m + to develop the ecosystem (if he does not spend it all to buy Evelyn brikin bags)
To my surprise, many projects have actually shown support to @pasternak.
Unlike $pump, which is losing its market to $bonk and $gp, @believeapp has a different moat with tech startups. It's very evident that they have a deep tech network. This is the REAL value of the launchpad and is hard to replicate.
Large support from people that matter. Supported by @solana, @alliancedao, @nikitabier. From the latest launches like @grandmaisters, it seems that @alliancedao crypto accelerator projects will be launching via @believeapp, which is very bullish for fees.
Flywheel will eventually come, but unlike startups, it's a very slow process. See below ⬇️
If you have faith Ben will make good on his word and create a flywheel for #launchcoin equal to or greater than that of $GP (7.5% of fees. ~750k-1M a week) these prices are quite literally free. (mathematically)
Launchcoin currently has ~1M in liquidity... even a few 100k a week would be enough to drive this back to ATHs
While things might seem scary on the outside, launchcoin has still managed to generate great volume VIA a number of very good launches this week
If we were to put emotions to the side and think outside of the CT echo chamber, we would realize that volume has been fantastic.
@pasternak has mentioned we are In "the final innings" of the flywheel and that it will be the "gold standard"
Below is a simple comparison of the P/E of Believe, Bonk, PF, GP, and Clankers.
Just like we saw $GP go up only once Tom started buying back with 7.5% of Bonk eco fees, #Launchcoin should follow suit.
If your patient and don't have a weak stomach, from a fundamental perspective, the smart trade is accumulating launchcoin over the coming days/weeks in anticipation for the flywheel. Even if it is a sell the news event, the fundamentals will outpace sellers.
My bag will likely get very heavy the longer we sit in the 60M range
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