Disturbing 'shock content' videos mirroring the earlier Web1 Internet era have surfaced on Pump. fun, a Solana-based social platform. Users share graphic material, including self-mutilation, animal abuse, and adult content, to pump token prices. This activity threatens both platform stability and Solana's growing social ecosystem.
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Some memecoin creators on Solana's viral Pump.fun platform have been broadcasting videos with extremely dark humor and harmful antics to pump their tokens.
Pump.fun emerged in January 2024 under a pseudonymous team and established itself as Solana's premier decentralized meme coin launchpad. The platform enables token creation with 'fair launch' mechanics for under $2 in initial capital.
By now, Pump.fun ranks as a top revenue-generating application in the industry, leading user engagement metrics across platforms.
Over 3.8 million tokens were launched through Pump.fun since its January debut (Source: Dune Analytics)
Pump.fun revenue annualized (Source: DefiLlama)
Concerns, on the other hand, are generally centered on the possible psychological impact of extremely volatile low-cap alts' markets, where price may swing by over 100% in hours creating stress and inducing anxiety.
The live streaming launched on the platform in August 2024 has since devolved into dangerous spectacles, with participants broadcasting criminal behavior and suicide threats. This has resulted in the token creation website facing significant public backlash on X from shocked users.
Memecoins generally thrive on internet culture, humor, and virality, but the current Pump.fun users' activity is crossing far beyond the borders of harmlessness, attracting negative attention from mainstream media and potentially regulators.
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To clarify, Pump.fun does not control the type of streams users choose to create, but it has maintained an active moderation team since its inception. In response to the current wave of 'shock content' streams, the platform has suspended live streaming capabilities.
Despite these efforts, many questionable tokens have still emerged on the platform, backed by some interesting promoters.
The situation feels like an inflection point for Solana's most viral platform. Despite spawning numerous scam tokens and rug pulls, so far, it has remained under the regulatory radar. However, the latest series of provocative live streams is pushing market watchers to call for regulatory action.
However, whether due to regulatory pressure or market competition, Pump.fun has strong incentives to address this problem quickly.
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