Initially, the live broadcast feature on Pump.fun, a platform for creating memecoins on the Solana blockchain, was intended to promote coins. However, some users “went too far,” representatives of the platform team explained.
For example, one of the developers promised to physically harm himself if his cryptocurrency reached a market capitalization of $25 million. In another stream, the developer threatened to hang himself if his coin did not reach a certain market capitalization. The platform recently removed a stream whose host threatened to shoot his dog if people stopped buying his token.
Pump.fun said it was forced to remove hundreds of streams containing racist and offensive content. The anonymous head of Pump.fun under the nickname Alon claims that the platform’s content is moderated from the very beginning of its launch and around the clock. Alon admitted that moderation on the platform is not perfect.
According to DefiLlama, since March 2024, the platform’s revenue has amounted to more than $215 million. More than 3.8 million memcoins have been created on the site. Recently, Pump.fun recorded daily revenue of $14.3 million.
In October, the developers of Pump.fun presented the Pump Advanced trading terminal for clients and promised to create a native token, but did not specify the timing of its launch.
Source: Bits
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