PONS founder says buyback burns are automated, with fund claims moving to a 7-day cycle

News Editor

2026-10-03 09:15:53

PONS founder Ozzy responded on Oct. 3 to community criticism over the project’s buyback-and-burn mechanism, apologizing for earlier misunderstandings in prior communication. The questions raised by user yyy focused on whether escrow funds still had to be moved manually into the buyback distributor, why funds had not entered the distributor for more than five days, whether the current burn pace was about $120,000 per day, and whether the previously promised automatic claim function for escrow funds had actually gone live. Ozzy said some of those concerns were valid. He acknowledged that the buyback-and-burn rate has not yet been adjusted and that the claim step had not previously been fully decentralized. According to Ozzy, the team is upgrading the contract so the new mechanism will claim funds once every seven days, then use those funds for buybacks and burns over the following seven days in a repeating cycle. He added that all buyback and burn operations are now automated, that anyone can trigger the bot to execute them and receive a small reward, and that future buyback funds will be shown in two sections: the Active Buyback Vault and funds reserved for the next cycle.

BlockBeats reported on Oct. 3 that PONS founder Ozzy (@MEADGod) responded to community questions about the project’s buyback-and-burn mechanism and apologized for misunderstandings in earlier communication.

User yyy had previously challenged several parts of the mechanism, including whether funds in the escrow account still needed to be transferred manually into the buyback distributor, why funds had not entered the buyback distributor for more than five days, whether the current buyback-and-burn pace was about $120,000 a day, and whether the previously promised automatic claim function for escrow funds had been implemented.

Ozzy acknowledges some of the concerns

Ozzy said some of the criticism was valid. He stated that the buyback-and-burn rate has not yet been adjusted, and that the claim step had not previously been fully decentralized.

He said the team is upgrading the contract. Under the new design, funds will be claimed once every seven days, and those claimed funds will then be used for buybacks and burns over the next seven days on a recurring basis.

What has already been automated

According to Ozzy, all buyback and burn operations have already been automated. Anyone can trigger the bot to carry out the related actions and receive a small reward. He said the main item that still needs adjustment is the buyback-and-burn rate.

Ozzy added that the previous buyback rate was set at 2e per hour. Combined with roughly 950,000 in the Splitter fund-routing contract and the seven-day cycle arrangement, he said that rate matches the current size of the funds.

How funds will be displayed

He also said fund claims will be executed automatically once every seven days. In the future, buyback funds will be displayed in two sections: the Active Buyback Vault, which is used for the current buyback execution, and the funds reserved for the next cycle.

Ozzy thanked community members for the feedback and again apologized for responding before fully understanding the issue. User yyy later accepted the apology and said that a more decentralized and automated claim and buyback-burn mechanism is an important foundation for building trust in the community.

This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan.

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