The Solana memecoin launchpad Pump Fun has announced the indefinite suspension of its live streaming feature. The decision to sunset this service comes after the protocol faced backlash in relation to the abusive use of the live stream feature. Notably, the protocol explained that this suspension is not an outright sunset of the live stream feature.
Pump Fun and User Growth Challenges
According to the official announcement from the protocol, its platform has “experienced unprecedented growth” in recent rimes. It said the number of live streams on the platform grew by 100x in under a week.
With this growth comes some reported abuses. Based on this, Pump Fun said it has stayed active in taking down hundreds of content from the platform. Per community updates, there is an alleged report that a user committed suicide from the use of the platform to farm memecoins.
Besides this, a user allegedly said he will kill school kids if his memecoin does not reach a set market cap. Other dog mutilation threats and NSFW content have grown on the platform.
To address this, Pump Fun said it has doubled its content moderation headcount to take down content. It said it has upgraded its automatic moderation systems that flags unsafe content right away.
However, it claimed that it needs to perfect this system and has decided to halt livestreaming indefinitely. Moving forward, the platform said it plan to be more transparent regarding its publishing guidelines.
In all, the platform said it plans to make its moderation decision known to all its platform users. This will make them understand the process and outcomes.
Upside of the Memecoin Craze
Notably, Pump Fun has enjoyed the benefits of its popularity through massive fee generation. As reported earlier by Coingape, the Solana memecoin launchpad has initiated series of SOL selloffs as the price of the coin jumped to a new high over the past week.
With series of sales recently, Pump Fun sold off 105,000 SOL last week. This selloff comes as the price of the coin soared to its All-Time High above $263.
Many digital currency protocols are now launching their Pump Fun rivals. From the Sun Pump on Tron Network to the Emojidotfun on Aptos, Pump Fun has inspired a new generation of launchpads.
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