Solana CEO Anatoly Yakovenko denounces influx of racist and offensive memecoins

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

Unknown events lately 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 towards the development on X, simply stating:

“F’ these anti-Semitic racist incels.”

DEX Screener responds

DEX Screener, a well-liked third-party service that screens tokens on numerous blockchains, together with Solana, said it might overview its insurance policies following the excessive price of offensive memecoin launches in current days.

The corporate mentioned:

“We won’t be the gatekeepers of what happens on-chain, but we’re definitely not here to spread hate.”

The platform’s documentation signifies that each one knowledge is at present dealt with in actual time “without any human moderation or intervention.”

As of press time, the development has barely diminished. Nevertheless, it’s unclear whether or not DEX Screener has taken motion towards it.

Molly White of web3isgoinggreat suggested that the offensive tokens initially stuffed DEX Screener, few of these tokens are at present trending on the platform’s fundamental web page. Moreover, memecoins representing backlash towards the dangerous content material are trending, together with “Stop 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 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 recently reported that greater than 20,000 new tokens are created every day on the community. Solana’s rising token rely is accommodated by its comparatively low transaction charges, which make creating new tokens extra reasonably priced than on different blockchains.

For instance, whereas the average Ethereum transaction fee 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 prime trending cryptos on DEX Screener circulated, a minimum of partly, on Solana.

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