Pump.fun, a memecoin launchpad based on Solana, has decided to disable its livestream feature due to a backlash from the community over inappropriate content being shared. The platform released a statement on November 25, announcing the indefinite pause of the live streaming function in order to address the issues of harmful content.
Despite efforts to moderate the content, Pump.fun has faced challenges with user-generated material, prompting the need for increased human moderation and investment in automated systems. The platform acknowledged that as a popular crypto app, they are navigating issues similar to those faced by other social platforms during their growth phases.
The decision to disable the livestream feature comes after creators on the platform engaged in extreme activities to drive token prices up, including sharing NSFW material and participating in risky challenges. One user even threatened to take drastic measures if a specific market cap was not reached, prompting concerns from the community.
Pump.fun has gained popularity within Solana’s ecosystem, with over 3.8 million tokens deployed this year. The platform has seen significant token-issuing activity, generating substantial fees on the platform. However, despite the high trading activity on decentralized exchanges related to Pump.fun tokens, only a small percentage of tokens launched on the platform have reached the necessary market cap for a DEX launch.
In addition to the backlash over inappropriate content shared through the livestream feature, Pump.fun has also been likened to a casino due to the low success rate of tokens launched on the platform. Despite these challenges, Pump.fun remains a prominent player in the Solana ecosystem, with plans to reinstate the livestream feature once the moderation infrastructure is improved.
Overall, the decision to disable the livestream feature reflects Pump.fun’s commitment to creating a safe and user-friendly environment for creators and investors on the platform. It also highlights the challenges faced by platforms with user-generated content and the importance of effective moderation systems in maintaining a positive community experience.
