It has been a month since the start of the Pons journey, and we have already done nearly $2,500,000,000 volume, had over 290,000 tokens launched, and paid out over $15,000,000 in token creator rewards, all while dedicating 80% of protocol revenue to buying back the $PONS token - over $9,000,000 in $PONS has been burned to date. That's nearly 30% of the total $PONS supply.
Time moves at lightspeed in crypto. It’s easy to get lost in the moment. We want to use this article to digest the last month and be transparent about the positive course we are setting ourselves on for the future: It is clear to us that Robinhood is here to stay and compete with other leading chains, and Pons is committed to being at the helm of the launchpad space.
Robinhood chain’s aggressive growth has not only been exciting to us, but has reignited a fire onchain. We see the emergence of Robinhood as a sort of onchain renaissance - Uniswap v4 has been proven superior to other AMMs, NFT collections have launched and paired with tokens, and new ways of pairing tokens with RWAs are taking hold. Traditional finance is coming onchain.
Our last article "Communitymaxxing" showcased our dedication to alignment with the Pons community, and we have since taken action to improve our ability to improve on this alignment: the Pons family has grown with the hiring of a new developer an incredible designer who will give the Pons brand the definition deserving of all the support the community has given us. We’ve kept our social media presence limited to spotlighting user metrics, partnerships, and feature updates, and will be rolling out new Pons Ecosystem updates this upcoming week. The goal with the Pons Ecosystem account is to inform the community of exciting developments and stories from the community, and will follow a transparent model for selecting featured projects.
NFTs, More RWAs, and CTOs
To put it simply, we are bullish on NFTs and their utility when it comes to pairing with tokens (RWAs, Memes, Creator Tokens, etc.) and rallying communities, whether they be existing or new. There is not much we can release regarding our plans at this time, but we want you to know that it is undergoing development with two incredible partners.
RWA volume on Pons was up and to the right when we released Pons v2, and we’re working with liquidity providers and issuers to increase the amount of onchain RWAs we facilitate for pairing on Pons.
CTOs have been at the top of our minds and list of priorities for weeks now, so let’s dig into them. We made the decision to fully move to Pons v2 launches and deprecate new v1 launches last week as v2 offers more flexibility at launch. This does not take anything away from existing v1 tokens, and most v1 tokens have no reason to migrate to v2 - we have not made any effort to migrate $PONS from v1 to v2 and will not.
We plan to enable migrations for those who want to CTO v1 coins and those who plan to migrate from Solana to Robinhood using Pons.
If you are trying to CTO a Pons v1 token, but a rogue deployer is dumping their bags on you, then migration makes sense. It is important to remember that as liquidity is locked on Pons v1 tokens, the migration process could potentially slow momentum if a relaunch is be required. For larger tokens, relaunching is difficult and requires coordinating hundreds if not thousands of holders. A migration through relaunch should be seen as a last resort.
Our relaunch approach forces holders to burn and mint tokens on a new contract, and will be accessible via cto.ponsfamily.com. There is another route, though, which is much easier to implement. We call it a “Soft CTO”. As the Pons deployer receives fees from every swap as TOKEN/WETH, we hold quite a bit of each Pons v1 token. Our “Soft CTO” approach would involve the Pons Treasury putting up TOKEN in a 0.3% Uniswap v3 pool to dilute the original LP and decrease the fees any rogue deployers receive while the new LP funds CTO teams with LP fees.
Pons v2 migrations and CTOs are much simpler than either approach and only require the filling out of a form at cto.ponsfamily.com. Not sure if your token is Pons v1 or v2? Look for a “v2” badge on the Pons website.
Pons App
Testing is underway for the Pons App on iOS, and we will unlock beta testing for those who sign up on our Testing Portal. More on this later.
Thank you for your trust and patience as we continue building Pons. We have lots of updates to push over the next few weeks and months.
Let's keep winning.
-Ozzy & Team.
