The relaunch of the livestreaming service by Pump.fun, a Solana-based platform, has been met with a mix of anticipation and caution. This development comes after the feature was initially pulled down in November due to controversies related to the misuse of the platform by traders. The feature is now available to all users, complete with a more stringent moderation policy designed to mitigate harmful conduct.
The livestreaming feature was initially disabled following a series of extreme stunts pulled by traders in a bid to outdo each other for attention. A notable example involved a trader known as NoHandsNoRug, who, despite showing no hands on camera, surprised viewers by revealing his hands and abruptly selling the token’s liquidity live on stream. Other users went to alarming lengths, threatening harm to themselves, others, or their pets to persuade traders to purchase their Pump.fun memecoins.
To prevent a recurrence of such instances, the updated moderation policy now includes clauses against violence, harassment, sexual content, and illegal activities. Therefore, most of the dangerous stunts that were pulled in November would now be in violation of these policies. While offensive content is not outrightly prohibited, the policy also contains a clause that explicitly bans the promotion of terrorism and violent extremism.
The ease of launching memecoins on Pump.fun has led to an increase in competition, making it more challenging for projects to gain recognition. In one day alone, users launched a staggering 16,000 memecoins on the platform. This intense competition has led to memecoin pumpers resorting to attention-grabbing tactics, albeit under the revised rules to avoid potential bans.
The livestreaming feature was initially reintroduced on April 5, albeit discreetly, and was made accessible only to the top 5% of users. The reintroduction saw traders resorting back to attention-grabbing stunts, this time under the watchful eyes of the stricter moderation policy. The full rollout on April 11 was a litmus test of the efficacy of the updated policies.
As the dust settles after the relaunch, it remains to be seen whether the stricter moderation policy will curb the unbridled behavior that led to the initial shutdown of the feature. For now, the platform is under scrutiny as users, traders, and observers alike await to see how this popular feature will fare under the new rules. One thing is certain, however: the stakes are high, and the future of livestreaming on Pump.fun hangs in the balance.
