At 4am today, pump.fun co-founder @a1lon9 conducted a live voice interview on the Twitch channel of crypto KOL @notthreadguy .

Before the live broadcast, some people in the English circle joked that this was the "FOMC" of the cryptocurrency circle. From the results, this live broadcast did have a profound impact on the price of the currency. $PUMP fell by nearly 15% during the live broadcast, and the single-day decline was close to 20%, and once fell below the market value of 3 billion US dollars.

For Pump.Fun, this interview with Alon was undoubtedly a public relations disaster.

What did alon say during the live broadcast?

About $PUMP Airdrop

threadguy ：Will there be another $PUMP airdrop? If so, when?

Alon : As we promised when we announced TGE, $PUMP will have an airdrop. We will keep our promise and reward the airdrop to the community that has helped us grow over the past year and a half. We hope that the airdrop can be well executed and can drive the transaction volume of the entire ecosystem and allow the ecosystem to develop in the long run. This is very important to us. We are now also focused on bringing attention and hype back to pump.fun. However, the airdrop will not happen soon (in the immediate future).

There are many rumors about $PUMP airdrops, such as the airdrop standard is like this, the airdrop activity is like that, but I think there are no more than 5 people on earth who know how the $PUMP airdrop is planned. Therefore, all the rumors you can see are not credible. We take airdrops very seriously and hope to ensure that the airdrops are worthy of the community.

threadguy ：How much of $PUMP will be used for airdrops?

alon : I can’t reveal it now, but I will do my best to be worthy of the community.

threadguy : How to solve the selling pressure after the airdrop?

Alon : I can't reveal any specific mechanisms right now, but we will seriously consider it.

About $PUMP Buyback

threadguy ：Will you continue to buy back $PUMP from the open market?

Alon : I can’t fully reveal the specific plans, but the actions on our chain will answer this question.

threadguy : Can you tell us how much $PUMP you have repurchased in total since TGE?

Alon : We bought back about $20 million worth of $PUMP at the beginning, and about $550,000 in the past 4 days. (After hearing $550,000 in the past 4 days, threadguy said twice, "You have a lot of money!")

About the competition from Bonk

threadguy : Why do you think Bonk was able to surpass pump. fun in terms of trading volume and market share in such a short period of time?

Alon : Of course there is a lot of short-term hype and short-term competitive strategies, but we always focus on the long term. What I mean is that in the past few months, the products that people use have not changed substantially, and the market has not grown substantially. If you want this field to continue to grow 10 times or even 100 times, some substantial changes are needed.

While the long term is important, the short term is equally important for long term development. We will inject a lot of liquidity into our ecosystem and interact with the communities that are working hard to build in our ecosystem to ensure that these communities have the best chance to succeed.

threadguy : How does pump. fun regain its absolute lead in the "Launch Pad Wars"?

Alon : In the short term, we need to support the active communities in the current ecosystem. It is the active communities that have brought us to where we are today. But if we extend the timeline, in addition to the success of the tokens launched by our own platform, we also need more major product improvements. I think everyone still remembers the hot market at the end of last year and the beginning of this year. Although cryptocurrencies are cyclical, our current downturn is not only due to cyclical factors, but also requires change.

We need a better ecosystem and mechanism to more effectively coordinate the community, creators, traders and other forces; we need a better way to integrate outsiders into this field; we need to ensure that memes always have more new and interesting narratives instead of always the same group of people repeatedly hyping things that everyone is tired of. For the first point, we have invested a lot of time and energy to promote it. For the second point, the pump. fun mobile app was born for this purpose. For the third point, we need to continue to invest resources to introduce better creators.

But let me say it again: focusing on the short term and getting resources flowing back into the pump. Fun is essential to long-term development.

threadguy : You have been buying 1 pump.fun ecosystem meme coin every day recently. Will this strategy be effective and feasible in the long run?

alon : This is just a small step in our plan.

About meme market

threadguy : Do you think the meme market will return to its previous peak?

Alon : Of course, if I didn't think the market could grow 10 times or even 100 times, I wouldn't be here. The market still has a lot of potential to grow, it's just a matter of time and specific actions. But I think we need a more sustainable way to attract users. A surge is indeed very attractive, but a plunge after excessive enthusiasm may make new users leave again, or even leave because they leave a bad impression.

Achieving sustainable growth will require many drastic changes.

threadguy ：So what exactly will you do?

Alon : First of all, we are not building a single launch pad product, but a large Pump.Fun ecosystem, so we need an excellent team. The current team is already very good, but we will continue to recruit talents, even strategic acquisitions like Kolscan announced earlier. We will continue to observe the market and look for opportunities to expand the market, whether in the social field or other fields.

Then I have been talking about major changes, one of which will be PumpSwap 2.0. I can't reveal too many details, but the fee structure will be completely different, designed to incentivize teams that can produce more interesting meme coins to join and build for the long term. The CTO incentives we updated a week ago have laid the foundation to incentivize creators to build within the existing meme coin community.

Whether it is creators, anchors, artists or startup founders, we try to attract them into our ecosystem. It is not just about attracting them to deploy a token and hype it for a few days, but to be able to motivate them to build something sustainable. We still need to do a lot of efforts and iterations to achieve such an effect.

Mobile apps are very important. Although our user numbers have fluctuated recently, the number of users and activity of the app are setting new records almost every day, and the way for new people to get in touch with and become familiar with this circle can be improved.

Live streaming is also a point we are very concerned about. How can the spread of information be determined by the market rather than by algorithms controlled by social media companies? This is also our long-term vision.

Threadguy also asked some other questions, such as how pump.fun can avoid becoming the OpenSea of the meme coin track, whether it will sign non-crypto anchors, etc.

But these issues are not critical, because the final effect of this live broadcast was to once again ignite the players' anger towards pump. fun, resulting in a drop of nearly 20% in $PUMP.

Why is this a PR disaster?

Alon may think that this is not a "PR" for the recent dissatisfaction with pump. fun, but a "propaganda" for a wider audience, so he chose to accept the live interview with threadguy on Twitch. However, the final result is that even his failure to accept the interview on his own live broadcast platform has become a vent for the players' dissatisfaction.

After TGE, $PUMP briefly rose and then began to fall, which made the players who originally stood on the side of pump. fun speechless. What's even more outrageous is that Alon openly bought 5 pump. fun ecological meme coins with orders, and 4 of his positions have already suffered losses.

When Alon first bought the meme coin $neet from the Pump.Fun ecosystem, the token had a market value of $30 million, with a 1-minute bullish candle of 365%. Everyone thought this would be a good start, especially the players on Pump.Fun who always believed that Pump.Fun still had the most interesting meme coin culture, and these narratives would definitely get better. But in the end, Alon did not continue to pull the market, and the buying based on emotions quickly ran out. $neet has returned to the market value level when Alon bought it, and the order-carrying effect of the tokens that Alon bought later has become weaker and weaker.

This makes Alon’s statement on the live broadcast that “a large amount of liquidity will be injected into the ecosystem” seem very hard to believe and ironic. This even became free advertising for competitor Bonk:

Before the live broadcast ended, Bonk announced that it would use 1% of the platform’s revenue to support its own top meme coin.

The fact that $PUMP airdrop will not happen in the near future has once again ignited the anger of players. Even gainzy, one of the biggest streamers on pump. fun, made a "complaint" on the live broadcast:

Some people make money, but others lose money. Like Hyperliquid, giving loyal users a 6-digit or even 7-digit airdrop, they are happy and recover their losses, and will continue to trade on Hyperliquid. Especially when Bitcoin hits a record high, everyone needs more money, even if the airdrop is a little smaller, it is better than dragging it out. If the airdrop is not satisfactory, pump.fun will be under greater pressure and it will be more difficult to end.

Who in the trenches cares about the streamers and creators? It is the trenches that make pump.fun a lot of money. You have to make these people rich. This is not a difficult thing to understand.

In addition, Alon's answers throughout the interview were full of things like this cannot be disclosed, and that cannot be disclosed. When players' trust in Pump. Fun was almost completely gone, this gave everyone a deeper sense of distrust - is it that it cannot be disclosed, or do you not care at all after getting $1 billion?

Conclusion

If the determination expressed by Alon in the live broadcast can still wait for time to verify, then one thing may be that it really can't wait any longer - Pump.Fun, which has a billion US dollars, really needs a better public relations team.