Solana neighborhood members and the cryptoecosystem condemned the latest rise of inflammatory memecoins on March twenty second.
Unknown events lately used Solana’s token creation characteristic to introduce 1000’s of memecoins with racist and anti-Semitic terminology of their names, with some tokens additionally containing anti-Chinese language descriptions and different broadly offensive materials.
Solana founder and CEO Anatoly Yakovenko bucked the pattern on X, simply stating:
“F’ these anti-Semitic racist incels.”
DEX Screener responds
DEX Screener, a preferred third-party service that displays tokens on varied blockchains, together with Solana, he mentioned will evaluation its coverage following a excessive fee of offensive memecoin releases in latest days.
The corporate mentioned:
“We’re not going to be the gatekeepers of what is going on on within the chain, however we’re positively not right here to unfold hate.”
The platform’s documentation states that every one information is at present dealt with in real-time “with none human moderation or intervention”.
As of press time, the pattern has decreased barely. Nonetheless, it’s unclear whether or not DEX Screener has taken motion towards him.
Molly White of web3isgoinggreat advised that offensive tokens initially populated the DEX Screener, few of that are at present trending on the platform’s foremost web page. Moreover, memecoins representing resistance to dangerous content material are trending, together with “Cease Racism on Solana” and “F-DEX Screener”.
Memecoin Insanity
The crypto trade has been gripped by the memecoin frenzy for a number of months, fueled primarily by the surge in worth seen by BONK and WIF, amongst others.
Solana’s low prices and quick transactions have positioned it as a significant supporter of the rise in memecoin buying and selling, with a major proportion of buying and selling quantity occurring on the community.
SolanaFM lately reported that greater than 20,000 new tokens are created on the community every single day. Solana’s rising variety of tokens is offset by its comparatively low transaction charges, making the creation of recent tokens extra inexpensive than on different blockchains.
For instance, whereas Ethereum’s common transaction payment is over $9.00, Solana transactions sometimes value a fraction of a cent – though the precise transaction prices on every chain can fluctuate.
Over the previous 24 hours, all however 5 of the 50 hottest cryptocurrencies on DEX Screener have traded, not less than partially, on Solana.
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