Solana’s popular meme coin platform, Pump.Fun, has decided to remove its livestream feature. This decision comes after a series of disturbing incidents on the platform. On November 25, the platform faced intense criticism and backlash from the crypto community.
Pump.Fun is a decentralized platform that allows anyone to create Solana-based meme coins. Users can create these coins without any coding experience. The platform also included a livestream feature. This feature let users broadcast the process of creating and promoting their meme coins. However, this feature has now become a source of controversy.
The backlash began when a user streamed a highly concerning incident. Beau, a safety project manager for Pudgy Penguins, shared on X (formerly Twitter) that someone on Pump.Fun threatened suicide. This person said they would take their own life if their coin did not reach a specific market capitalization. Beau urged the platform to take immediate action to disable the livestream and offer support to the individual.
Another alarming incident involved a user who reportedly fired a gun out of a window. This user did this each time their meme coin’s value increased. A child also threatened to harm family members if a token price goal was not met. One of the most distressing reports was a user claiming they would carry out a school shooting if their coin did not pump.
These incidents sparked outrage among the community. Many users labeled the livestream feature as a “pipeline of felonies.” They called for the platform to shut down the feature until better safeguards were in place. One user commented, “Turning on a camera to showcase your own depravity to the world isn’t noble or novel.”
The community’s concerns were reflected in Polymarket predictions. Users were actively betting on whether Pump.Fun would disable its livestream feature by Friday. The prediction market indicated only a 21% chance of this happening. This highlighted skepticism about the platform’s ability to act swiftly.
Alon, the pseudonymous leader of Pump.Fun, defended the platform’s moderation efforts. He acknowledged the community’s concerns and assured users that harmful content was being addressed. “We have a large team of moderators working around the clock and an internal team of engineers dealing with increased scale,” Alon said. He stressed that moderation has been a priority since the platform’s inception.
Despite these assurances, critics argued that the platform’s measures were insufficient given the severity of the incidents. The community continues to demand more transparency and immediate action to prevent harmful broadcasts. However, the platform has not disclosed specific plans for additional safeguards or changes to its livestream feature.
In response to the growing criticism, Pump.Fun decided to remove the livestream feature entirely. The platform issued a statement saying, “We are committed to providing a safe and secure environment for our users. After careful consideration, we have decided to remove the livestream feature to address the concerns raised by the community.”
The removal of the livestream feature is a significant step. It shows that the platform is taking the community’s concerns seriously. However, many users are still wary and want to see more concrete actions. They are waiting to see what additional safeguards the platform will implement.
The Solana ecosystem has established itself as a key hub for meme coins. The launch of Pump.Fun in early 2024 has further strengthened its position in this space. Notable meme coins that gained popularity on Solana include several that were created and promoted through Pump.Fun. These coins have attracted a large number of users and investors.
The removal of the livestream feature may have implications for the future of meme coins on Solana. Some users may lose interest in creating and promoting meme coins without the live interaction. However, others may see this as a positive step towards a safer and more responsible platform.
In conclusion, Pump.Fun’s decision to remove the livestream feature is a response to the community’s concerns. The platform is working to address the issues and provide a safer environment for its users. The crypto community will be closely watching to see what additional steps the platform takes in the coming days.
