Believe Platform Ups Creator Fees in Solana-Only Update – Coincu

Believe, a token issuance platform, announced on June 1st that it will implement an updated fee structure. The new model increases the creator fee share to 70%, with payments to be made entirely in Solana (SOL). The change aims to incentivize community-driven token launches by raising creator earnings and enabling more significant participation in the platform’s growth.

Believe’s fee structure update boosts creator earnings to 70% from June 1st, up from 50%, and mandates payments in Solana rather than mixed currencies. Creators possess full discretion over earnings usage, marking a shift towards empowerment. Additionally, platform operations will retain 0.9% of fees, with 0.1% allocated to ‘Scouts’ who discover and promote tokens. This approach may enhance grassroots promotion and community engagement as token discoverers gain financially.

Solana Adoption and Financial Implications in DeFi Landscape

The revised policy impacts Believe’s token issuance activities significantly. Fees paid entirely in SOL could increase Solana’s liquidity and usage among creators. The redistribution elevates creator incentives, making the platform more attractive. By facilitating token launches and meme coin creation, Believe could expand its market presence in a rapidly growing segment of the industry.

Market reactions remain varied, with increased interest in Solana-related activities likely. While there are no direct statements from prominent figures or regulatory updates, the shift towards creator-favored revenue sharing reflects market trends in DeFi platforms. The approach may boost Solana’s adoption in these circles, emphasized by Believe’s operational focus on the token’s ecosystem.

“The platform has engineered a model that incorporates ‘token discoverers’ into the revenue-sharing system for the first time, greatly incentivizing the community to proactively discover and spread quality ideas.” — Believe Leadership Team, Believe Platform

Solana’s current statistics

Did you know? Believe’s strategy includes “Scouts” sharing revenue for the first time, fostering community engagement and token discovery—uncommon tactics that historically boost participation and create dedicated ecosystems.

Solana’s current statistics, as noted on CoinMarketCap, include a trading price of $157.54 and a market cap of $82.30 billion. The 24-hour trading volume has experienced a decrease of 12.09%, settling at $2.53 billion. In recent months, Solana has shown dynamic behavior, with a 32.94% increase over 60 days, though witnessing a 9.51% drop in the 7-day metric.

The Coincu research team highlights the potential impacts of this realignment on Solana’s position in the decentralized finance sector. By increasing its dominance and encouraging creator-driven content, the shift could result in stronger technological integration into existing systems, enhancing overall functionality and growth prospects within the ecosystem.