Alekey retweeted
if you think #BOYCOTTPUMPFUN is some bullshit
Letās revisit each time attention shifted away from PumpFun
we get some of the biggest runners in the trenches
ā¢ CASHCAT
ā¢ AI
ā¢ STONK
ā¢ ZCAT
ā¢ MASK
ā¢ BONER
ā¢ PONS
ā¢ MARSCOIN
to name a few
Even ZC on Ethereum reached $50M before the team rugged on a random launchpad
Meanwhile Kimchi one of PumpFunās biggest promotional pushes, couldnāt even take his own coin to $50M despite his massive reach and backing and āauraā
At some point you have to question the ecosystem youāre participating in
PumpFun has built a model that thrives on:
ā¢ Constant new launches that pnd
ā¢ Influencers incentivized to promote PF tokens
ā¢ Liquidity continuously rotating between new pairs
ā¢ Trading volume regardless of whether anyone actually makes money
Think about the incentives
PumpFun profits from trading activity, not from your bags appreciating
A token going to $100M and establishing a strong holder base isnāt nearly as important to their business model as thousands of traders constantly rotating between new launches spamming volume
And the people promoting these launches have financial incentives that arenāt necessarily aligned with yours
Yet traders keep following the same accounts into the same launches, expecting different results .. like please wake up
Some of the best opportunities weāve had came when liquidity and attention escaped this absolute hell of an ecosystem
Maybe the problem isnāt that the trenches are dead or that nobody wants to buy memecoins anymore
itās because weāre just directing all our liquidity towards an ecosystem that benefits more from extracting it than growing it
Prioritise robinhood coins
Prioritise stonk coins
Prioritise BNB coins
Just try to stop feeding this fucking machine defined to drill us otherwise known as @Pumpfun
Alekey retweeted
I think the people deserve to know ansem's relationship with pump fun
šØLAWSUIT CLAIMS PUMPFUN INTERNAL CHATS SHOW IT WAS BUILT TO MAXIMIZE ADDICTIVE TRADING!
In an ongoing class-action lawsuit against Pump.fun and related parties, plaintiffs allege that roughly 5,000 internal team messages reveal the platform was deliberately designed to maximize addictive engagement and fee revenue.
According to the complaint, leadership discussed slot-machine style mechanics and acknowledged the product was built around users continuing to trade even when most lose money.
The claims come from whistleblower materials cited in the amended complaint.
Alekey retweeted
Imagine a casino where nearly 100% of customers lose money.
Now imagine that instead of acknowledging the odds are stacked against its customers, the casino markets itself as a revolutionary platform for creating wealth.
Would you celebrate that business? Would you praise its success? Would you encourage more people to participate?
Or would you start asking why an ecosystem continues to funnel billions of dollars into a machine that leaves almost everyone poorer?
Thatās my fundamental issue with @Pumpfun .
A platformās success should not be measured solely by how much revenue it extracts from its users. At some point, we need to ask how much value it actually creates for them.
When the house keeps winning and virtually everyone else keeps losing, thatās not financial innovation.
š«” From the depths ā
The White Whale š
Alekey retweeted
People are mad & theyāre (justifiably) the easiest target to blame it on. Giving millions to kolās to suck your dick while the coins flounder & die, hosting a competition for the already rich to get richer (while the coins all die), giving money to a millionaire to partner with & shilling a hard rug (while the coins die), giving 50$ to new sign ups & 50k to already rich people who get 1000 referrals (while the coins die), introducing trading fees to your app (while the coins die)
Alekey retweeted
People are not mad at pumpfun for being a Launchpad.
People are made at pumpfun for:
1) Doing nothing to enable fair launches, with no bundling.
2) promoting KOLās with hold times less than a minute and rewarding them heavily for these ācallsā, such KOLās nuke the chart too.
3) Promising an airdrop ( making nearly a billion dollars ) and never doing said airdrop.
4) Covering it up with a ātrading competitionā which with the way the platform runs will go to multi wallet KOLās whilst they make the money back and more.
This is an extractive setup with a negative affect on all of crypto, not just memecoins.
Alekey retweeted
Alon, do you want to address the big fat fucking elephant in the room?
WTF happened with the $KIMCHI token that you reposted?
Is Kimchi still partnered with you guys? The lil nigga removed @Pumpfun from his bio
This is the BIGGEST competition we've ever hosted on the Pumpfun app!
$2,500,000 will be paid out to 3 Squads who achieve the highest PNL after 2 weeks.
$1,500,000 for 1st, $750,000 for 2nd and $250,000 for 3rd.
Winners are decided based on PNL + uPNL after the competition ends.
Every member gets paid based on what they contributed to their Squad: pull your Squad to victory? Receive the biggest prize. Pull your Squad down? Receive lower prizes.
The competition starts Monday, so you have 3 days to get your Squad onto the Pumpfun app and sign up in the Squads tab
Alekey retweeted
We need a trading platform that:
- doesn't allow to bundle coins
- doesn't allow to track wallets to avoid sheeps
- doesn't allow multiple tickers with the same name
Who is gonna make it?
Alekey retweeted
Pumpfun is lowkey going down the same path Fortnite did.
Fortnite pushed updates no one liked and started trying to become the next Roblox by heavily incentivizing ācreatorsā into creating creative maps.
Pumpfun is doing the same now, theyāre trying to become the next big retail app by heavily incentivizing creators over traders.
Both led the industries they were in, but both eventually started moving in a direction their core players didnāt like, or were straight up damaged by.
Instead of first and foremost taking
care of the people who were there from the start, they both decided to shift focus from their core audience to a new one
For Fortnite, that was by getting Roblox kids to rotate over, and for Pumpfun itās bringing in āretailā traders.
Both of those audiences can be good, but the problem was how they made the switch
