Pump.fun, a meme token launch platform, has experienced extraordinary growth in user numbers and protocol revenue amid the booming meme token market. Data reveals that Pump.fun generated $5.31 million in revenue within 24 hours, ranking second in daily income after USDT issuer Tether.
Since March, Pump.fun has seen a steady rise in user activity. To date, the platform has accumulated over $250 million in revenue and deployed more than 3.8 million tokens, with growth trends continuing upward.
Attention Economy Sparks Chaos
Pump.funs live streaming feature, launched in August, has recently surged in popularity. While this blockchain-based live streaming model has drawn substantial user participation and generated significant economic benefits, it has also fostered chaos within the ecosystem.
Meme tokens, as a hallmark of the attention economy, have exacerbated the situation. Many projects employ controversial tactics to quickly garner attention, raising concerns from regulators over legality and ethical boundaries.
To boost attention and drive token valuations, Pump.funs live streams have reportedly featured violent, disturbing, and explicit content. Growing numbers of users have called for the platform to disable its live streaming functionality, stating that the situation is spiraling out of control.
Pump.fun Disables Live Streaming Feature
Pump.fun addressed the controversy in a community announcement, reaffirming its commitment to curbing inappropriate activities. The platform has taken actions such as removing non-compliant token images, names, descriptions, and comments, as well as flagging NSFW content, to maintain a safe and respectful environment.
Pump.fun noted unprecedented growth on its platform, with daily live streams increasing over 100-fold in under a week. Hundreds of streams are being removed daily to ensure the content remains safe and compliant.
To guarantee absolute user safety, Pump.fun has indefinitely suspended its live streaming functionality until its moderation infrastructure is equipped to handle high levels of activity. Moving forward, the platform plans to publish clear guidelines to make its rules and regulations more transparent and to provide creators and users with greater visibility into moderation decisions. These efforts aim to ensure that all stakeholders understand the processes and outcomes, fostering a more trustworthy and secure community.