Alon Cohen, the co-founder behind the Solana-based memecoin launchpad Pump.fun, is preparing to reinstate live streaming on the platform — five months after halting the feature due to multiple incidents involving harmful content.
On April 4, through a post on X, Cohen announced that the live streaming capability has returned, equipped with “industry-standard moderation systems and transparent guidelines.” He noted that the feature is currently accessible to only 5% of users.
The updated policy on Pump.fun’s website presents the intention of its new live streaming moderation framework as fostering a social atmosphere that nurtures creativity and freedom of expression while promoting meaningful interactions among users, devoid of illegal, harmful, or negative behavior.
Any violations of this moderation policy could lead to the termination of both the creators’ live streams and their Pump.fun accounts.
The policy explicitly bans specific types of content, such as violence, animal cruelty, pornography, and endangerment of youth. However, it adds some ambiguity by stating that “Pump.fun does not aim to define what content is ‘appropriate’ or ‘inappropriate’ universally.”
The moderation policy further notes that there may be an implicit expectation for some content, often categorized as NSFW, to be present on Pump.fun.
The platform asserts its right to “determine the appropriateness of content as needed and to moderate accordingly.”
### Live Streaming Resumes Amidst Memecoin Market Decline
Pump.fun had initially removed its live streaming feature last November after the platform became inundated with extreme content, as memecoin creators resorted to increasingly shocking tactics to market their tokens.
Reports indicated that some users were allegedly making threats of violence or self-harm if certain tokens did not reach specific price targets.
The platform explained that its rapid growth had overwhelmed its moderation team, prompting an indefinite suspension of the live streaming function to ensure user safety until the necessary moderation infrastructure could be established to handle the increased activity levels.
At that time, Mikko Ohtamaa, the co-founder of an algorithmic trading firm, remarked that if Pump.fun continued to host live streams without adequate moderation, it would face shutdown once mainstream audiences became aware of the situation.
“I support freedom of speech, but these streams are creating real issues with people breaking laws during their live broadcasts. This will lead to a shutdown when mainstream media catches wind of it,” Ohtamaa commented.
Pump.fun’s move to bring back live streaming comes as interest in memecoins has considerably diminished following a string of notable rug pulls, including Libra (LIBRA) and Melania Meme (MELANIA). This decline is further compounded by the poor performance of tokens like Trump (TRUMP), which, according to CoinGecko, has plummeted over 90% since its January peaks.
Data sourced from Dune Analytics indicates that the graduation rate for tokens launched on Pump.fun—reflecting the percentage of tokens that attain sufficient market capitalization to be traded on a regular decentralized exchange—has dropped to below 1%, down from approximately 1.67%.
In tandem with a noticeable fall in the number of tokens launched on the platform, the volume of tokens graduating has decreased drastically from around 5,400 per week in January to under 1,500 in March.
Overall, the total number of tokens deployed on the Solana network has also seen a sharp decline. Only 31,651 tokens were launched as of April 5, according to Solscan, which is less than one-third of the peak figure of 95,578 recorded during the height of the memecoin craze on January 26.