In the midst of the Fallout of the scales -Memecoin -Crash, Pump.Fun’s founder has called for stricter crash barriers on token launching paths to protect users against insider -lighting and manipulative token launches.
According to a February 18 Xsaid the pseudonym of the Solana-based meme Coin Launcher that he was “disgusting” by the events around Libra and the impact it had on the crypto ecosystem.
“The people behind this project have made considerable personal profit at the expense of many users, the ecosystem and even an entire country. I hope that the responsible people get what they earn. ‘Alon wrote on X.
He criticized the involvement of intermediaries such as “development teams” and “market makers” in the launch of the scales, and claimed that creating a memecoin should be a simple process, so that “everyone can do it” without trusting such actors, who can benefit from such actors, who can benefit the process.
Alon also defended Pump.Fun’s model and said it was built “to explicitly tackle some of the problems exposed” in the Fallout scales by standardizing and automating the token creation process.
In the future, he called for launch platforms to implement better protection to “ensure that users are as safe as possible while they meet their requirements”. He outlined three important areas where improvements are needed – education, onboarding and user protection.
Alon emphasized that while Pump.Fun launching Meme Coins made it easy, what happens after a coin has been made is largely not addressed. As such, he argued that users should be better trained about ethical token launches, including setting expectations, managing delivery, dealing with snipers and understanding when it is appropriate to take a profit.
“Users must be able to make their own decisions and take responsibility instead of trusting third parties,” he added.
He also pointed out that onboarding must be more accessible to new traders, and emphasizes that professional traders will always find ways to take advantage of opportunities in a free market. According to him, platforms, influencers and ecosystem players must ensure that users are led based on their level of trading experience.
Finally, Alon called for stronger user protection measures at the ‘interface level’. Although no permissionless platform ‘Poor results in the chain’ can prevent completely, he believes that interfaces can create a safer environment by limiting the visibility of tokens with suspicious trading activities and ensuring that functions such as slippage settings are reasonable.
Libra, launched on February 15, attracted a lot of attention after the Argentinian President Javier Milei had briefly shared it, it as the official sign of Argentina. The approval led to a frenzy and pushed the price from scales to a peak of more than $ 4 before he crashed under 50 cents within a few hours.
Accusations of market manipulation emerged after several portfolios were said to have drained more than $ 107 million in a single sided liquidity, so that the pole of the token was drained. Shortly thereafter, Milei removed his function and the market capitalization of the scales collapsed in just six hours by $ 4.4 billion.
Milei has claimed that he endorsed it and said that his intention was only information about the token and not encouraging people to invest in it.
