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Solana CEO Anatoly Yakovenko denounces inflow of racist and offensive memecoins

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

Unknown events not too long ago took benefit of Solana’s token creation characteristic 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 in opposition to the pattern on X, merely 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, stated it will evaluate its insurance policies following the excessive price of offensive memecoin launches in latest days.

The corporate stated:

“We received’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 each one knowledge is presently 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 steered that the offensive tokens initially stuffed DEX Screener, few of these tokens are presently trending on the platform’s principal 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 trade 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 major share of the buying and selling quantity occurring on the community.

SolanaFM not too long ago reported that greater than 20,000 new tokens are created day by 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 common Ethereum transaction price is above $9.00, Solana transactions sometimes price a fraction of a cent — although precise transaction prices on every chain could range.

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

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