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Solana-based memecoin launchpad Pump.enjoyable paused its dwell stream function indefinitely to sort out rampant inappropriate exercise on the platform, according to a Nov. 25 assertion.
Pump. enjoyable’s staff mentioned that it has been moderating dangerous content material, just 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 preferred 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 function will return on-line as soon as the moderation infrastructure is able to deal with heightened exercise ranges.
Launched in Could, 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 buyers. Notably, the choice comes after utilizing the dwell video feed function went to excessive circumstances.
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 bathroom till the token worth reached $50 million. One other consumer launched a token and went so far as to shoot a gun each time the value 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 particular market cap. On this event, Beau urged Pump.enjoyable’s staff to show off the dwell stream function.
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 response to 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 acquired 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 response to a Dune Analytics dashboard by consumer evelyn233, just one.42% of the over 3.8 million tokens created on Pump.enjoyable reached the market cap essential to get a DEX launch.