Solana CEO Anatoly Yakovenko denounces inflow of racist and offensive memecoins

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Members of the Solana group and the crypto ecosystem denounced the latest surge in inflammatory memecoins on March 22.

Unknown events lately took benefit of Solana’s token creation function to introduce hundreds 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 towards the pattern on X, merely stating:

“F’ these anti-Semitic racist incels.”

DEX Screener responds

DEX Screener, a well-liked third-party service that screens tokens on varied blockchains, together with Solana, mentioned it will assessment its insurance policies following the excessive fee of offensive memecoin launches in latest days.

The corporate mentioned:

“We gained’t be the gatekeepers of what occurs on-chain, however we’re positively not right here to unfold hate.”

The platform’s documentation signifies that every one knowledge 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 towards it.

Molly White of web3isgoinggreat steered that the offensive tokens initially stuffed DEX Screener, few of these tokens are at the moment trending on the platform’s fundamental web page. Moreover, memecoins representing backlash towards 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 primary benefactor of the surge in memecoin buying and selling, with a big share 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 rely is accommodated by its comparatively low transaction charges, which make creating new tokens extra inexpensive than on different blockchains.

For instance, whereas the common Ethereum transaction payment is above $9.00, Solana transactions usually price a fraction of a cent — although precise transaction prices on every chain might differ.

Over the previous 24 hours, all however 5 of the 50 prime trending cryptos on DEX Screener circulated, at the very least partly, on Solana.

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