Tokens created on PumpFun and LetsBonk platforms are largely controlled by automated bots. Coinbase executive Conor Grogan found that new tokens are launched every three minutes.
Bot Dominance in Token Creation
According to Conor Grogan, executive at Coinbase, a significant number of tokens on PumpFun and LetsBonk are created by bots. This situation raises questions about token legitimacy and market sustainability.
Impact on the Solana Ecosystem
Grogan noted that intensive bot usage significantly impacts the Solana ecosystem, where each token is launched on average every three minutes. The total bot activity has reached 18,000 new tokens, generating $3.8 million in profits.
Unregulated Risks and Regulatory Responses
The absence of regulation in this area exacerbates the risks associated with rapidly unfolding bot activities, reminiscent of previous memecoin booms. Discussions about enhancing the stability and effectiveness of current models continue to be relevant within the crypto community.
The issue of bot control over tokens on PumpFun and LetsBonk raises doubts about the future of tokens in the Solana ecosystem, prompting discussions on the need for new regulatory measures and a better understanding of token launch mechanics.
