In a significant development for the memecoin community, Pump.fun, a launchpad for Solana-based memecoins, has announced the return of its live streaming feature. This decision comes five months after the platform suspended the service due to incidents involving harmful content. Alon Cohen, co-founder of Pump.fun, shared the update on X (formerly known as Twitter) on April 4, highlighting that the feature will now include ‘industry standard moderation systems’ and a phased rollout to just 5% of users.
Pump.fun’s commitment to fostering a positive social environment is evident in its new live streaming moderation policy, which aims to preserve creativity and encourage meaningful user engagement while mitigating illegal and harmful interactions. The moderation policy outlines strict prohibitions against specific types of content, including violence, animal abuse, pornography, and youth endangerment. However, it also includes a degree of ambiguity, stating that the platform will not uniformly define what is considered ‘appropriate’ content. This raises questions regarding the potential for inappropriate content to appear in live streams, emphasizing the need for robust content moderation strategies.
The reintroduction of live streaming comes at a time when the memecoin market is facing significant challenges. Last November, the platform removed its live streaming feature after reports of extreme content and troubling user behavior. Users were allegedly resorting to threats of violence or self-harm to influence token prices. This led Pump.fun to pause live streaming indefinitely to ensure user safety and enhance its moderation capabilities to handle increased activity levels.
Mikko Ohtamaa, co-founder of the algorithmic trading firm Trading Strategy, previously raised concerns that without appropriate moderation, live streaming could attract negative media attention and potentially lead to the platform’s downfall. He emphasized the importance of maintaining a responsible environment for content creation.
The timing of Pump.fun’s decision to revive live streaming is notable, as interest in memecoins has diminished following high-profile incidents of ‘rug pulls’ and the poor performance of tokens like Trump (TRUMP), which has seen a staggering decline of over 90% from its January peaks.
Data from Dune Analytics further highlights the state of the memecoin market, revealing that the graduation rate for tokens launched on Pump.fun—indicative of those reaching sufficient market capitalization for trading on decentralized exchanges—has plummeted to below 1%. This decline is echoed by a significant drop in new token launches, with only 1,500 tokens being introduced in March compared to approximately 5,400 in January. The Solana network itself has also experienced a drastic decrease in token activity, with only 31,651 tokens launched on April 5, a stark decline from its former peak.
As Pump.fun navigates these challenges, the reintroduction of live streaming will be closely monitored by users and industry stakeholders alike, especially in light of the implemented moderation policies designed to ensure a safer and more enjoyable experience for the community.
