Pump.enjoyable, the Solana-based memecoin launchpad, has indefinitely suspended its livestreaming performance to fight widespread inappropriate exercise on the platform, ain line with a November 25 assertion.
Pump. The enjoyable staff stated it moderates dangerous content material, lately doubling the dimensions of its human moderators and investing in automated moderation techniques. Nevertheless, the platform added:
“As the most well-liked crypto app with user-generated content material, we’re addressing the challenges that many different social platforms have confronted throughout their progress phases and taking related steps to resolve the elemental points. “
The discharge states that the dwell streaming performance will return on-line as soon as the moderation infrastructure is able to deal with elevated exercise ranges.
Launched in Could, the dwell video streaming function has been lively for lower than six months.
Group response
Pump.enjoyable permits customers to create memecoins with out technical data, and creators use dwell streaming to draw the eye of potential traders. Notably, the choice comes after utilizing the dwell video streaming function grew to become an excessive case.
Creators started presenting challenges to lift token costs, together with the distribution of “not protected for work” materials. One creator issued a problem the place he would keep in the bathroom till the token prize reached $50 million. One other consumer launched a token and went so far as shoot with a gun every time the value elevated.
Moreover, the Pudgy Penguins safety program supervisor, who identifies himself as Beau, reported {that a} creator threatened to finish his life if the symbolic value didn’t attain a particular market capitalization. On this event, Beau urged the Pump.enjoyable staff to show off the dwell streaming function.
Reputation of Memecoins
Pump.enjoyable has turn out to be widespread on the Solana (SOL) ecosystem this 12 months, with over 3.8 million tokens deployed for the reason that begin of the 12 months.
In response to Dune Analytics dashboard Created by enterprise capital fund Hashed, the token issuance exercise generated over 1.4 million SOL in charges on the platform.
Since August, Pump.fun-related transactions have accounted for almost all of buying and selling exercise on decentralized exchanges (DEXs). In November, Pump.enjoyable tokens accounted for 62.4% of Solana DEX transactions, the very best month-to-month exercise associated to the memecoin launchpad.
Nevertheless, apart from the backlash the content material obtained in its now-deactivated dwell streaming function, the platform is often in comparison with a on line casino, given the low share of efficiently launched tokens.
In response to Dune Analytics dashboard in line with consumer evelyn233, just one.42% of the over 3.8 million tokens created on Pump.enjoyable have reached the market cap wanted to launch a DEX.
