In a shocking turn of events, the crypto space has been flooded with a resurgence of early internet-era shock videos as token issuers on the popular Solana-based platform Pump.fun resort to extreme measures to pump their memecoin values. From self-harm to animal cruelty and explicit sexual content, the desperation to make a quick buck has pushed some to unthinkable lows.
Pump.fun Becomes Hotbed of Controversial Content
Pump.fun, a runaway hit application on the Solana blockchain, allows anyone to issue a token for less than $2. Users choose the number of tokens, theme, and accompanying meme picture. When a token’s market cap reaches $69,000, a portion of liquidity is deposited to the Solana DEX Raydium and burned.
The platform’s popularity has exploded, becoming the biggest revenue generator across all Solana user apps. However, the addition of a live streaming feature last week has opened the floodgates to a tidal wave of shocking content.
Extreme Acts Aim to Go Viral
Some memecoin creators are live streaming disturbing videos in an attempt to make their tokens go viral and pump the price. Scenes have included:
- A man locking himself in a cage
- Individuals killing hens on camera
- A person refusing to leave their toilet until their token hits a certain market cap
- Self-harm, such as people cutting themselves or playing with fire
- Fetish videos and softcore pornography
The shock factor appears intentionally aimed at sparking outrage and morbid curiosity to draw more viewers and potential investors. Most of these “dark” tokens lack official channels or explanations from their issuers regarding the controversial tactics.
Community Backlash and Moderation Woes
The wider crypto community, particularly on X (formerly Twitter), has largely condemned the use of shock content to promote tokens. Influential accounts are urging Pump.fun to crack down on the disturbing streams.
There is currently someone using your livestreams to threaten to hang themselves if the coin does not reach a set marketcap. Absolutely heinous and it needs to come down + see if you can get them help. Shut down the livestream feature. This is out of control.
– @beausecurity on X
Pump.fun has stated it actively moderates illicit content, including images, videos, live streams, and comments. Founder @a1lon9 emphasized their commitment to free speech while still removing clearly repulsive or dangerous content.
However, the sheer volume of activity appears to be overwhelming their moderation capabilities. In response, Pump.fun announced it is indefinitely pausing the live streaming functionality until moderation infrastructure can handle the heightened activity levels.
Market Rejects Dark Meme Tokens
Despite the attention-grabbing antics, most of the tokens associated with the darkest content fail to gain significant traction. The majority struggle to surpass even a $50,000 market cap, a far cry from the $1 million+ valuations that viral meme tokens with positive themes regularly achieve on the platform.
This suggests that while shock content may spark brief viral interest, most investors are unwilling to seriously put money behind tokens using such blatantly unethical marketing ploys. The crypto community still largely values humor and cuteness in meme token themes.
Reflecting on Pump.fun’s Wild West
The swift rise of controversial content on Pump.fun highlights the challenges decentralized platforms face in balancing free market dynamics with basic ethical standards. As one of the top Solana apps, the tone Pump.fun sets could have ripple effects across the wider ecosystem.
While pausing live streaming is a step to rein in the most egregious abuse, it’s clear Pump.fun will need to proactively evolve its platform rules and moderation capacity to foster a healthier community as it continues to grow. The Solana ecosystem as a whole must also reflect on what baseline norms should exist in its defi Wild West.
Meme coins may be about pushing boundaries, but the line has to be drawn somewhere before harmless fun descends into nihilistic depravity. As the saying goes, the integrity of a society can be judged by how it treats its most vulnerable. Even in the lawless frontiers of crypto, humans are still very much responsible for the worlds we create.
