Introduction
Pump.fun, the Solana-based platform known for launching thousands of memecoins, is once again in the spotlight after reactivating its livestreaming feature. On April 4, co-founder Alon Cohen announced that the feature, which had been disabled due to widespread abuse, is returning with stronger moderation. For now, only 5% of users can access livestreaming. The question is: will these new tools be enough to avoid the platform’s past issues?
Project Overview
Pump.fun became popular as a memecoin launchpad on the Solana blockchain, giving users the ability to create and list tokens with minimal restrictions. Its ease of use, fast onboarding, and viral community-driven nature helped it explode in popularity. In January 2025, the platform hit a peak with over 95,000 tokens launched in a single day.
Unlike crypto projects focused on utility or long-term development, Pump.fun embraces the fast-moving, unpredictable world of memecoins. This made it appealing to influencers, speculators, and online communities. But the open nature of the platform has also led to major risks, including pump-and-dump schemes, high volatility, and disturbing behavior tied to its livestreaming feature.
Event Details
The livestreaming feature was originally pulled in November 2024 after multiple troubling incidents. Some users resorted to threatening violence or self-harm on camera in attempts to boost attention for their tokens. At that time, Pump.fun lacked the moderation systems necessary to prevent such harmful behavior, prompting the platform to take the feature offline indefinitely.
Now, five months later, livestreaming is being reintroduced, but only to 5% of users in a test phase. Cohen stated that the platform now uses "industry standard moderation systems" and has released new guidelines aimed at improving safety. These rules prohibit content involving violence, animal abuse, explicit material, or threats to minors.
Despite these new safeguards, the moderation policy allows significant discretion. Pump.fun reserves the right to determine what content is acceptable and can remove streams or suspend user accounts for violations. However, the policy also acknowledges that much of the content will likely still be labeled “not safe for work,” indicating a continued focus on creative freedom.
This update comes during a difficult time for both the platform and the memecoin market. A series of scams and declining token performance - including projects like TRUMP and MELANIA - have cooled public interest. Data from Dune Analytics shows the graduation rate for new tokens (those that reach sufficient market cap to be traded on regular exchanges) dropped below 1% in March. Weekly token launches also fell sharply, from over 5,000 at the start of the year to under 1,500 in recent weeks. On April 5, only 31,000 new tokens were created on Solana, a dramatic drop from January’s peak.
Potential Impact
Bringing livestreaming back may help revive engagement on Pump.fun, giving creators new ways to promote their coins. However, it also brings serious risks. If the moderation system fails again, the platform could face renewed legal and reputational pressure. Crypto communities are closely watching to see if this cautious rollout avoids past issues. If successful, it might slow the current decline in user activity and rebuild trust.
(Disclaimer: This article is not financial advice.)
Conclusion
Pump.fun’s decision to bring back livestreams is both bold and risky. While the platform has promised better protection and clearer rules, it remains to be seen how well these will work under pressure. For memecoin creators and investors, livestreaming offers a new way to engage - but also serves as a reminder of how quickly things can go wrong in an unregulated and fast-moving space.
