Amidst the decline from Libra Memcoin crash, pump. Fun founder has asked for strict railing on the token launchpad to protect users from internal formula scams and manipulation token launch.
By 18 February X postThe founder named Chhadam of the Solana-based Meme Coin Launcher said that it was “disgusting” by influencing the events around Libra and its impact on the crypto ecosystem.
“The people behind the project made sufficient personal gains at the cost of many users, ecosystems and even an entire country. I hope that those responsible will get what they deserve. Alon wrote on X.
He criticized the participation of middlemen like “development teams” and “market makers” at the Libra launch, arguing that making a memecoin should be a simple process so that no one can do it without trusting such actors ” Can take advantage Process.
Alon also defended the pump. Fun’s model stated that it was “made” to the token manufacturing process “to deal with some issues exposed” in Libra Fallout “.
Moving forward, he called the token launchpads to implement better security “to ensure that users are as safe as possible when meeting their demands.” He underlined three major areas where improvement is required – education, onboarding and user safety.
Alon insisted that the pump. Fun made meme coins easier, what happens after making a coin, it is largely uncontrolled. As such, he argued that users should be better educated at moral tokens, including determining expectations, managing supply, treating snipers, and being suitable for taking profits.
“Users should be able to take responsibility instead of making their decisions and relying on third parties,” he said.
He also stated that onboarding needs to be more accessible for new traders, saying that professional traders will always find ways to take advantage of opportunities in a free market. According to him, players of the platform, affected and ecosystem should ensure that users are directed on the level of their business experience.
Finally, Alon called for strong user safety measures at “interface level”. Although no permitted platform can completely stop the “chain on bad results”, they believe that interface can create a safe environment by limiting the visibility of the token with suspected trading activity and facilities like slipping settings It is appropriate to ensure.
Libra, launched on 15 February, attracted a lot of attention after Argentine’s President Xavier got, which was briefly shared on X, branding it as Argentina’s official token. Endorsment triggers a frenzy, pushing the price of Libra to a high level of more than $ 4, crashed below 50 cents within hours.
After several wallets, allegations of manipulation in the market were reported, allegedly a token pool was dried at a distance of more than $ 107 million in single-sided liquidity. Shortly thereafter, Miley removed her position, and the market cap of Libra fell by $ 4.4 billion in just six hours.
Miley denied the claims that he supported the token, saying that his intention was only to share information about the tokens and not encouraged people to invest in it.
