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Pump Fun has suspended its livestreaming feature indefinitely after explosive growth brought reports of user abuse, including threats and harmful content. The Solana-based platform is overhauling moderation as it faces mounting controversies and a surge in SOL selloffs.
Unprecedented Growth Drives 100x Surge in Livestreams
In recent times, the protocol's platform has "experienced unprecedented growth," as stated in the official release. It claimed that in less than a week, the platform's live stream count increased one hundredfold.
A number of abuses have been documented alongside this growth. According to Pump Fun, it has been actively removing hundreds of pieces of content from the platform. As far as the community is aware, there has been talk of a user committing suicide while using the site to mine memecoins.
On top of that, there was an incident when a user threatened to harm schoolchildren if the market cap of their memecoin didn't reach a certain point. There has been an increase in other threats of dog mutilation and NSFW content on the platform.
Pump Fun Suspends Livestreaming to Strengthen Moderation
Pump Fun has stated that it has increased the number of its content moderation staff in order to remove offensive material. The company boasted that it has improved its automated moderation algorithms to quickly identify harmful content.
But it has chosen to stop livestreaming indefinitely, claiming that it needs to perfect this method. The platform stated its intention to be more forthright about its publication guidelines going ahead.
SOL Selloff Highlights Pump Fun’s Market Impact
All things considered, the platform has stated its intention to inform all users of its moderation decision. By doing so, they will be able to comprehend the procedure and its results.
Pump Fun, being a Solana protocol, has reaped the rewards of the main chain's success.
Massive fee generation demonstrates this. After reaching a new high last week, the price of Solana memecoin (SOL) began a series of selloffs on the launchpad, as reported earlier by Coingape.
Last week, Pump Fun sold 105,000 SOL, continuing their impressive streak of sales. Coin prices have fallen after reaching an all-time high above $263.
Rivals Emerge Amid Pump Fun’s Influence
Rivals to Pump Fun are being introduced by a number of digital currency technologies. Pump Fun has spawned a slew of additional launchpads, such as Tron Network's Sun Pump and Aptos' Emojidotfun.
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