The live streaming feature of Solana’s Pump Fun has received a series of backlashes, leading the protocol to halt the service.
The Solana memecoin launchpad Pump Fun has announced the indefinite suspension of its live streaming feature.
However, the decision follows backlash over the misuse of the feature. According to the protocol, this is not a permanent shutdown but rather a temporary suspension.
Pump Fun and User Growth Challenges
In an official announcement, Pump Fun noted that the platform has “experienced unprecedented growth” in recent times, with the number of live streams increasing by 100x in just one week.
However, this rapid growth has been accompanied by reports of misuse. The protocol has actively removed hundreds of problematic streams.
Community updates revealed troubling incidents, including an alleged report of a user committing suicide while using the platform to farm memecoins.
Other alarming cases include a user threatening harm to schoolchildren if a memecoin did not achieve a specific market cap, as well as threats involving animal cruelty and the proliferation of inappropriate content.
To address these issues, Pump Fun has doubled its content moderation team and enhanced its automatic moderation systems to detect unsafe content more effectively.
Despite these efforts, the platform stated it needs more time to refine its moderation mechanisms, prompting the indefinite suspension of live streaming.
The platform also committed to improving transparency regarding its publishing guidelines and ensuring users understand its moderation decisions and processes.
Upside of the Memecoin Craze
Despite these challenges, Pump Fun has benefited from its growing popularity, generating significant fees.
According to a report, the Solana-based platform recently sold off 105,000 SOL as the token’s price surged to an all-time high of over $263.
This success has spurred the emergence of competitors. New launchpads inspired by Pump Fun, such as Sun Pump on the Tron Network and Emojidotfun on Aptos, are beginning to appear, marking a new wave in the memecoin ecosystem.