Imagine memecoin launchpad has unveiled $1million Imagine Builders Fund to again builders and communities via varied initiatives.
On June 27, Imagine, a Web3 SocialFi platform enabling token launches by way of social interactions on X, introduced the launch of the Imagine Builders Fund. The initiative commits $1,000,000 over the approaching months to assist high-potential builders and communities via fellowship grants, hackathons, and focused incentives.
This announcement comes amid a pointy decline in platform exercise. In keeping with Dune Analytics, token launches on Imagine peaked in early Might with over 4,000 tokens launched per day. Nonetheless, exercise steadily declined all through the month and into June, with each day launches dropping beneath 100 by late June.
This development suggests the Builders Fund could also be a strategic transfer to reignite developer engagement and restore momentum.
Supply: @beincrypto | Dune Analytics
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LAUNCHCOIN, the token intently tied to Imagine via its founder Ben Pasternak — who created each the platform and the token — has additionally seen a pointy decline, shedding practically 50% of its worth prior to now month. It’s market cap at the moment stands at $95 million, 70% down from the height of $312 million on Might 15.
The token’s market cap surged from $10 million on Might 12 to over $240 million by Might 14, pushed by hype after Alex Leiman — creator of viral apps like RizzGPT and Astra — launched NOODLE, a crypto token for a sport on the Imagine platform. The value spike additionally aligned with Imagine’s peak exercise, with practically 5,000 tokens launched on Might 13 and 14.
Along with saying the Builders Fund to revive developer exercise, the platform just lately launched rug safety options to safeguard customers from rug pulls and scams. These embody automated and handbook price blocking on new tokens and a standardized “BLV” contract deal with suffix.
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