Pump.Fun co-founder says no plan to launch token, speaks out against basic promoted meme-mint

Solana-based meme coin Launchpad Pump.Fun’s co-founder has been pushed back against the controversial automatic Germint token experiment of Coinbase’s Layer 2 Network Base, making it clear that his platform has no plans to follow.

“There is a reality where what the basis did in a few years is normal but it is certainly not today and that has resulted in pain”, co-founder Alon Cohen tweeted Thursday.

The post was a direct answer to the “The basis is for everyone“Token, which was automatically beaten via Onechain Social Platform Zora made of a post made by the official X account of BASE.

Within a few minutes a token tied to act on the mail, which rather rose to a market capitalization of $ 17 million crashes more than 90%activating accusations of a Heim meme Launch as an analysis on the chain unveiled The top three portfolios held almost half of the stock.

Basic previously confirmed to Decrypt that the network “not sold token, nor in any way was official.”

“Do not expect any coins from me or @pumpdotfun or employees (also no ‘stealth launch’,” the Pump.fun Co-founder wrote, after the crash of token.

Pomp.Fun is also involved in itself controversyFaced with a recoil last year about live stream stunts with threats of self-harm, unsafe behavior and the short appearance of illegal content on his platform about token prices.

‘Social responsibility’

Despite the disclaimers on the Zora site that it was actively unofficial and offered ‘no expectations’, both traders and builders felt blinded.

“If you launch a currency and have social influence, it will come with responsibility,” Cohen said, criticizing the lack of guardrails in the rollout.

Cohen also said that while his platform “will continue to experiment at the intersection of social media and tokenization”, they will do their best to ensure that “we are tailored to our core user base.”

Basically, his part defended the creation of Token as part of his push to ‘bring content onchain’, “” proverb That the tokens are not official assets of basic or coinbase and will never be sold.

“If we want the future to be onchain, we must be willing to experiment in public,” said the network, while Jesse Pollak, maker of Base, also took Xsay they “build a global onchain economy.”

In the midst of the chaos, Cohen warned that influence in crypto with unwritten responsibilities is delivered and it is noted that builders are expected to “stick to the social standards of this space on a tee – launch or Shill no other coins, sets no high expectations, does not talk about the price”, especially about the price, “”

He added that such standards are not top-down mandates, and note that they are “not dictated by myself, pump. Fun, Coinbase or the president”, but instead formed by “the users who are in the trenches every day”.

Although it crashed hard, the automatically beaten token has been reflected somewhat, with around $ 16.5 million in market capitalization, Dexscreener data to show.

Edited by Sebastian Sinclair