Alon Cohen, co-founder of Solana-based Memecoin Launchpad Pump.fun, plans to revive live streaming on the platform five months after pausing functionality after several incidents containing harmful content.
Posting on X on April 4th, Cohen said the feature was returned with “industry standard moderation system and transparent guidelines.” He said it was rolled out to just 5% of users.
sauce: Aron Cohen
The Pump.Fun website describes the purpose of the new live streaming moderation policy as “to nurture pump fun that maintains creativity and freedom of expression, promotes meaningful engagement between users, and encourages illegal, harmful and negative interactions.”
Due to violations of the moderation policy, creators have terminated their livestream and pump.fun accounts.
This policy prohibits certain types of content, including violence, animal abuse, pornography and the dangers of young people. However, it creates ambiguity by claiming that “Pump Fans are not going to universally define which content is “appropriate” or “inappropriate.” ”
“There is an implicit assumption that some content (probably a lot of content) is generally defined as NSFW.
The platform added that it reserves the right to unilaterally determine the appropriateness of the content as needed and to mitigate accordingly.
Live streaming returns occur as Memecoin Market collapses
Pump.Fun removed the live streaming feature last November after getting caught up in extreme content as MemeCoin creators turned into an increasingly shocking tactic to promote their tokens.
It is said that some users were threatening violence and self-harm if the token did not reach their price target.
The platform “unprecedented growth puts a strain on moderators, pausing live streaming capabilities indefinitely and “until moderation infrastructure is ready to deal with the increasing levels of activity” to ensure users are safe.
At the time, Mikko Ohtamaa, co-founder of the Algorithm Trading Company Trading Strategy, said that if Pump.Fun continues to allow live streaming without proper moderation, it will close as soon as mainstream viewers realize what is going on.
“I’m advocating for free speech, but these streams create a practical problem that people are breaking the law with live broadcasts, which causes a shutdown when mainstream media gets caught in the air,” Ohtamaa said.
The decision to reintroduce Pump.Fun’s live streaming capabilities is because interest in Memecoins has been significantly reduced after a series of well-known lag pulls, such as Libra and Melania Meme (Melania). This, coupled with the poor price performance of tokens like Trump (Trump), is over 90% from the January high, according to Coingecko.
Related: Libra Founder: Critics Only “Bigs” When Excluded from Insider Trading
Dune Analytics data showed that the graduation rate for tokens launched in March on Pump.Fun has decreased from about 1.67%, down from less than 1%, the percentage of tokens that achieve market capitalization large enough to be traded in a regular decentralized exchange.
Combined with a sharp drop in the number of tokens on sale on the platform, this has led to a graduation of a total of tokens below 1,500 in March from a high of 5,400 per week in January.
The number of tokens launched on the Solana network has also decreased dramatically overall. According to Solscan, only 31,651 people were released on April 5th, less than a third of the 95,578 created at the Peak of Memecoin Frenzy on January 26th.
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