Pump.fun, built on the Solana blockchain, has removed its livestream feature from its platform. Following severe backlash from its users over violent actions, the platform had taken this step to protect user privacy. Known for improving the trading of game tokens and boosting active engagement, the platform said it was stopping this practice in order to avoid any negative impact on the DeFi industry.
The platform was designed to create a streamlined trading experience for users and encourage interaction. It enables the creation of tokens on a personalized basis and engages in dynamic trading challenges. With a low transaction fee and leveraging the high speed of Solana, the platform entertained both experienced and amateur traders.
On Monday, Pump.fun released an official statement via their social handle, indicating concern over such activities. Considering stiff competition in trading, several users are taking drastic steps to acquire success. The halting enables a momentary look at the platform format besides the formulation of procedures to address unhealthy behaviors.
Pump.fun Alleges Insider Role in $1.9M Bonding Curve Attack
This move comes in wake after a user under the pseudo name Beau stated in his X handle that someone was using the live stream feature on the platform to self-harm themselves. According to Beau, some Pump.fun users threatened to hang themselves if their coin didn’t reach its target. Following up on his post, another user called Chris stated that a Pump.fun user was willing to shoot down his pet dog if the market cap didn’t touch $11M.
In regard to such incidents, ethical standards need to be made more stringent within the crypto community. Although the decentralized platforms and blockchains retain users’ authority to make their own choices, they are also accountable for the consequences of uncontrolled trading. Some platforms are already giving importance to users’ health and safety measures, which may render social media platforms like Pump.fun a better model for crypto’s long-term growth.
