[ai16z Co-founder: Pump.fun’s contract bytecode is publicly available on-chain; calls on project teams to open-source] Gold财经 reported on October 30 that ai16z co-founder Shaw tweeted that he believes smart contracts exist as on-chain bytecode, accessible via Solana RPC nodes without requiring any terms agreement. He stated that he did not obtain the project’s source code, that the generated code is entirely original, and that reverse engineering was conducted for public interest, not for profit. He added that he will respond to Pump.fun’s allegations and remove any content that may violate terms.
It believes that depositing funds into closed-source contracts carries extremely high risk, resulting in approximately $40 million in user funds being stolen over the past year. It also emphasizes its commitment to legal compliance but insists that smart contracts should be publicly auditable. The ideal outcome would be for Pump.fun to open-source its contracts, as increased code review by more users would enhance security.
Previously, on October 29, Pump.fun's parent company, Bracket Company Inc., sent a cease-and-desist letter to Shaw through the law firm Brown Rudnick.
ai16z Co-Founder Calls on Pump.fun to Open Source Smart Contracts
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Summary
ai16z co-founder Shaw called on Pump.fun to open source its smart contract, noting that the bytecode is already visible on-chain via Solana RPC nodes. He emphasized that the code was created for the public good, not for profit, and highlighted that closed-source smart contracts have resulted in $40 million in stolen user funds over the past year. Pump.fun’s parent company sent Shaw a cease-and-desist letter through Brown Rudnick on October 29. The incident has reignited discussions about the need for smart contract audits and greater transparency in blockchain projects.
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