Using the @MigrateFun calculator we can determine that at their current migration participation rate of 20% they will recover 97% of SOL in the $LAUNCHCOIN pool.
The 1:80 ratio of liquidity to market cap means they only need a fraction of total supply participation to empty the old LP.
jake
@jakegallen_
10-16
Let's examine @believeapp's migration setup.
Mechanics
◆ Migration open now w/ LP deployed for $BELIEVE.
◆ 33% supply increase for $BELIEVE.
◆ 1:1 token redemptions.
◆ 2 week claim period when migration ends.
◆ All $LAUNCHCOIN sold when claims end.
◆ All unclaimed
It's a pretty interesting set up how they utilize Meteora, Jupiter, and Believe all in this process.
It appears they are using Meteora for a LAUNCHCOIN-BELIEVE 1:1 swap bin.
Then they are using Jupiter as an aggregation path to peg the BELIEVE sale price to that of LAUNCHCOIN.
Finally, they are using BELIEVE as the migration host.
You can see here that 204M LAUNCHCOIN has been accepted into the bin.
Which means 20.4% of all LAUNCHCOIN has been migrated across 675 holders.
From Twitter
Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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