- Pump.fun pauses livestreaming feature.
- Influencers were doing dangerous stunts.
- Platform to double moderation.
Solana’s memecoins have been dominating trading this year, thanks to Pump.fun. This platform has made it easier than ever to launch memecoins, enabling anyone to do it. However, this does come with its downsides.
Recently, Pump.fun was forced to shut down its short-lived livestreaming feature. While it hoped to give memecoin creators a way to engage with its audience, it faced significant backlash over the content on it. Namely, many streamers engaged in offensive, dangerous, or downright criminal behavior.
Dangerous Incidents on Pump.fun
Pumping memecoins can sometimes go too far. On Monday, November 26, Pump.fun was forced to shut down its livestreaming service indefinitely. The reason for this was the content the streamers created.
https://twitter.com/dumpydotfun/status/1860980871219867804
While much of the content was intended to be humorous, if potentially offensive, some of it was dangerous. For instance, a streamer promoted a nazi-themed token and burned an Israeli flag on-stream. Another streamer shot a gun every time a token is bought. Yet another streamer threatened to shoot a goldfish if players didn’t buy the token.
Still other streamers crossed the line of outright harmful or criminal behavior. In one case, a user threatened self-harm if the token didn’t reach a certain market cap. Another streamer promised to up a school after a certain milestone.
Dangerous Stunts Drive Engagement With Memecoins
Dangerous stunts in memecoin promotion are not new and were an issue before Pump.fun’s livestreams. In May, at the height of the memecoin bubble, one creator set himself on fire to promote a Solana token. He was hospitalized and treated for his wounds.
Memecoin market is one where attention is currency. This is why some creators will do anything to get attention for their projects. Platforms like Pump.fun will likely be unable to stop this without investing more in content moderation.
Pump.fun addressed the latest controversy with a statement, outlining their actions. They explained that there was a 100x surge in daily livestreams, making moderation difficult. They stated they would double the amount of human moderators to remove inappropriate content in the future.
On the Flipside
- Content moderation in decentralized platforms is complex. These platforms lack a centralized authority that can determine which content is acceptable.
- Some advocates of decentralization believe that too much moderation can stifle creativity and free speech.
Why This Matters
Pump.fun’s incidents showcase just how far some creators will go to make money. It showcases that moderation may be the only way to prevent these incidents.
Read more about memecoins stunts:
Disastrous Memecoin Stunt Hospitalizes Solana Dev
Read more about AI poisoning:
Solana Exploit Reveals Risks of AI-Generated Code
