PONS slipped below the $450 million market cap mark, with GMGN data showing a current valuation of $424 million and a 24-hour decline of 20.12%. From its peak market cap of $990 million, the token is down about 57.17%.
On the same day, PONS founder Ozzy responded to community questions about the project’s buyback and burn mechanism. He said the buyback and burn process has already been automated, and any user can trigger the bot and receive a small reward. According to Ozzy, the only parameter that still needs adjustment is the pace of buybacks and burns.
He added that the previous buyback rate was set at 2 ETH per hour. Based on roughly 950,000 in funds currently held in the Splitter contract, that pace was designed to match a seven-day cycle. Fund claims will also be carried out automatically once every seven days. Going forward, buyback funds will be split between a treasury for current execution and a reserve for the next cycle.
GMGN market data shows PONS has fallen below a $450 million market cap, with its current market value at $424 million. The token is down 20.12% over the past 24 hours.
From its peak market cap of $990 million, PONS has declined by about 57.17%.
PONS founder Ozzy addressed community questions on Friday about the project’s buyback and burn mechanism. He said the buyback and burn process has already been automated, and any user can trigger the bot and receive a small reward.
Ozzy said the only item that still needs adjustment is the buyback and burn rate. The previous rate was set at 2 ETH per hour. Based on about 950,000 in funds currently held in the Splitter contract, that pace was aligned with a seven-day cycle.
He added that fund claims will also be processed automatically once every seven days. Future buyback funds will be divided into two parts: a treasury for current buyback execution and funds reserved for the next cycle.
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