Solana-based memecoin launchpad Pump.enjoyable paused its dwell stream characteristic indefinitely to deal with rampant inappropriate exercise on the platform, according to a Nov. 25 assertion.
Pump. enjoyable’s workforce mentioned that it has been moderating dangerous content material, lately doubled the dimensions of its human moderators, and is investing in automated moderation methods. Nevertheless, the platform s because the platform added:
“As the most well-liked crypto app with user-generated content material, we’re navigating challenges that many different social platforms have confronted throughout their development phases and are taking related steps to handle the core points.”
The assertion famous that the dwell streaming characteristic will return on-line as soon as the moderation infrastructure is able to deal with heightened exercise ranges.
Launched in Might, the dwell video feed operate was energetic for lower than six months.
Group backlash
Pump.enjoyable permits customers to create memecoins with out technical information, and creators use dwell streaming to seize consideration from potential traders. Notably, the choice comes after utilizing the dwell video feed characteristic went to excessive instances.
Creators began presenting challenges to boost token costs, together with the distribution of “not secure for work” materials. One creator began a problem the place he would keep in a rest room till the token worth reached $50 million. One other person launched a token and went so far as to shoot a gun each time the worth elevated.
Moreover, the protection program supervisor for Pudgy Penguins, who identifies himself as Beau, reported {that a} creator was threatening to finish his life if the token worth didn’t attain a selected market cap. On this event, Beau urged Pump.enjoyable’s workforce to show off the dwell stream characteristic.
Memecoin reputation
Pump.enjoyable grew to become well-liked on Solana’s (SOL) ecosystem this yr, with over 3.8 million tokens deployed year-to-date.
In accordance with a Dune Analytics dashboard created by enterprise capital fund Hashed, the token-issuing exercise generated over 1.4 million SOL in charges on the platform.
Since August, Pump.fun-related transactions have represented nearly all of buying and selling exercise on decentralized exchanges (DEX). In November, Pump.enjoyable tokens represented 62.4% of Solana DEX transactions, the best month-to-month exercise associated to the memecoin launchpad.
Nevertheless, along with the backlash obtained by the content material of their now-disabled livestream operate, the platform is normally in comparison with a on line casino, given the low share of profitable tokens launched.
In accordance with a Dune Analytics dashboard by person evelyn233, only one.42% of the over 3.8 million tokens created on Pump.enjoyable reached the market cap essential to get a DEX launch.
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