Five months after a dramatic shutdown, Solana-based memecoin launchpad Pump.fun is cautiously restarting its live-streaming platform, with limited initial access for only 5% of users. This reintroduction comes following last year’s tumultuous period marked by harmful content and an emergency halt to the feature.
Alon Cohen, Pump.fun co-founder, confirmed the relaunch on April 4th, emphasizing the implementation of “industry standard moderation systems” and “transparent guidelines.” However, the platform hasn’t abandoned its commitment to maintaining a controlled environment. New rules specifically target violence, animal abuse, pornography, and content posing risks to minors.
While new policies are in place to ensure compliance, Pump.fun allows for some creative leeway. The platform acknowledges that not all “potentially NSFW” content will be outright banned. It seems the company aims to preserve the edgy spontaneity that initially attracted a dedicated user base, albeit under stricter scrutiny.
Pump.fun’s initial live-streaming shutdown in November stemmed from the chaotic behavior of creators during the memecoin bull run. Some streamers resorted to shocking tactics like threats of violence or self-harm if token prices didn’t meet targets, overwhelming the platform’s moderation capacity.
Industry voices, including Mikko Ohtamaa, co-founder of Trading Strategy, warned about the potential fallout without appropriate safeguards. “I advocate for freedom of speech,” he acknowledged, but also emphasized the need to prevent potential legal issues arising from live broadcasts.
As the memecoin market cools down following a series of rug pulls and declining interest in meme-tokens, Pump.fun’s fortunes are mirroring this trend. Interest in tokens like Trump has plummeted nearly 90% since its peak in January.
Data reveals that token graduation rates on Pump.fun have significantly declined – the rate at which tokens grow large enough to be listed on decentralized exchanges now hovers below 1%. The number of weekly launches has also dropped drastically, from 5,400 in January to under 1,500 in March.
Even the broader Solana network is impacted; just 31,651 tokens were launched on April 5th, a stark contrast to the 95,578 peak recorded at the start of the year.
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