Members of the Solana neighborhood and the crypto ecosystem denounced the latest surge in inflammatory memecoins on March 22.
Unknown events lately took benefit of Solana’s token creation characteristic to introduce 1000’s of memecoins with racist and antisemitic terminology of their names, some tokens additionally contained anti-China descriptions and different broadly offensive materials.
Solana founder and CEO Anatoly Yakovenko spoke out in opposition to the pattern on X, merely stating:
“F’ these anti-Semitic racist incels.”
DEX Screener responds
DEX Screener, a well-liked third-party service that displays tokens on numerous blockchains, together with Solana, mentioned it will evaluate its insurance policies following the excessive charge of offensive memecoin launches in latest days.
The corporate mentioned:
“We gained’t be the gatekeepers of what occurs on-chain, however we’re undoubtedly not right here to unfold hate.”
The platform’s documentation signifies that every one information is at the moment dealt with in actual time “with none human moderation or intervention.”
As of press time, the pattern has barely diminished. Nevertheless, it’s unclear whether or not DEX Screener has taken motion in opposition to it.
Molly White of web3isgoinggreat instructed that the offensive tokens initially stuffed DEX Screener, few of these tokens are at the moment trending on the platform’s essential web page. Moreover, memecoins representing backlash in opposition to the dangerous content material are trending, together with “Cease Racism on Solana” and “F— DEX Screener.”
Memecoin frenzy
The crypto business has been gripped by a memecoin frenzy for months now, pushed primarily by the blistering surge in worth seen by BONK and WIF, amongst others.
Solana’s low cost prices and quick transactions have positioned it as the principle benefactor of the surge in memecoin buying and selling, with a big proportion of the buying and selling quantity occurring on the community.
SolanaFM lately reported that greater than 20,000 new tokens are created each day on the community. Solana’s rising token depend is accommodated by its comparatively low transaction charges, which make creating new tokens extra inexpensive than on different blockchains.
For instance, whereas the typical Ethereum transaction payment is above $9.00, Solana transactions sometimes value a fraction of a cent — although precise transaction prices on every chain might fluctuate.
Over the previous 24 hours, all however 5 of the 50 high trending cryptos on DEX Screener circulated, a minimum of partially, on Solana.
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