After a significant pause, the Solana-based meme coin platform Pump.fun is reintroducing its live streaming feature, aiming to cultivate a more controlled environment through enhanced moderation practices. This move comes several months after the initial suspension of the service.
Addressing Past Challenges
The decision to halt live streaming five months prior stemmed from difficulties in managing a surge of inappropriate and harmful content. As creators of meme cryptocurrencies employed increasingly extreme methods to gain visibility for their tokens, the platform found itself overwhelmed. The rapid expansion, coupled with the inherent challenges of content moderation at scale, necessitated a temporary shutdown to develop more robust oversight systems. Alon Cohen, the co-founder of Pump.fun, announced the feature’s return on April 4th via X, highlighting the implementation of new safeguards.
New Moderation Policies
Under the updated guidelines, content deemed violent, abusive, or sexually explicit is strictly forbidden. However, the platform intends to maintain a degree of flexibility regarding acceptable content, acknowledging the creative nature of the space. Pump.fun explicitly reserves the right to moderate streams as deemed necessary, seeking a balance between fostering user creativity and ensuring platform safety. The revamped feature will initially be rolled out gradually to manage the reintroduction effectively.
Market Context and Platform Performance
This relaunch occurs amidst a noticeable downturn in the broader meme coin market. Several tokens have experienced significant difficulties; for instance, the TRUMP token has seen a dramatic value decrease since January. Other projects, such as those associated with Libra (LIBRA) and Melania Meme (MELANIA), have faced significant setbacks, including accusations of being “rug pulls“.
Data sourced from Dune Analytics paints a picture of decreased activity, indicating a sharp decline in the success rate of token launches originating on Pump.fun. The “reach rate,” which measures the percentage of tokens achieving tradable market capitalizations, has fallen significantly. Furthermore, the overall number of token launches on the Solana network has also seen a substantial reduction, mirroring the wider cooldown within the meme token sector.
By reactivating its live stream service with improved controls, Pump.fun hopes to re-engage its user base while navigating the complexities introduced by previous content issues and the current challenging market conditions for meme coins.
Maxwell Reed is the first editor of Cryptovista360. He loves technology and finance, which led him to crypto. With a background in computer science and journalism, he simplifies digital currency complexities with storytelling and humor. Maxwell began following crypto early, staying updated with blockchain trends. He enjoys coffee, exploring tech, and discussing finance’s future. His motto: “Stay curious and keep learning.” Enjoy the journey with us!