PONS, the platform token of token issuance platform Pons, has posted another sharp rally as meme coin activity on Robinhood Chain continues to draw traders. GMGN data cited in the report showed PONS market capitalization rising from $60 million to a peak of $400 million in one week, before slipping back to around $300 million.
The report linked that move to a rapid increase in Pons’ token issuance volume and trading share on Robinhood Chain. According to Dune data cited in the article, Pons issued more than 12,000 tokens on Aug. 27, surpassing Flap and returning to the top spot among token launch platforms on Robinhood Chain. It has stayed in first place by daily issuance since then and has gradually widened the gap with Flap and other platforms.
The article said that yesterday Pons recorded more than 22,000 token launches, equal to 66% of daily token issuance on Robinhood Chain. Trading generated by newly issued tokens launched through Pons accounted for 78% of the chain’s daily new-token trading volume.
Pons revenue and the buyback structure behind PONS
Higher trading activity has also lifted protocol revenue. DefiLlama data in the report showed Pons generated $930,000 in revenue over the past 24 hours, ahead of Jupiter at $800,000 and Polymarket at $660,000. That placed Pons seventh in protocol revenue rankings, according to the article.
Pons is a token issuance and trading platform built around Robinhood Chain and operated by Pons Labs. The report said it is not an official Robinhood product. Users can create and trade tokens on the platform, with all actions signed through personal wallets. Pons does not custody user assets.
Each new token on Pons currently has a fixed total supply of 1 billion tokens. Creation costs 0.0005 ETH, and the platform charges a 1% trading fee. A creator only needs to provide a token name, ticker, image, and social links to complete issuance.
The report said the platform’s appeal is not just the low barrier to entry but also the way fees are distributed. Under official documentation cited in the article, trading fees for tokens issued through Pons’ new contract are split 70% to creators and 30% to the protocol. Of the protocol share, 80% is used to buy back PONS on the market and burn it, while the remaining 20% goes to infrastructure and team operations. On Aug. 28, an official update said 29% of PONS total supply had already been burned.
About $740,000 in buyback demand over 24 hours
Using the most recent 24-hour data in the report, DefiLlama showed users spent a total of $5.02 million in fees on the Pons platform. Most of that was distributed to token creators and other participants, leaving about $930,000 in protocol revenue attributable to Pons.
Based on the current 80% allocation rule, roughly $740,000 of that amount would be used to buy back and burn PONS, while about $190,000 would go to team operations.
The article described this as a reinforcing loop. Each trade on Pons generates revenue for creators and also feeds protocol income that turns into PONS buybacks. Higher creator revenue can attract more issuance. More token launches can increase trading volume and fees. Higher protocol revenue can then support more PONS repurchases. If PONS rises, the platform may gain more attention and draw in additional creators and traders.
Three variables the author is watching
The report said PONS market capitalization has climbed from less than $40 million a month ago to around $300 million, with a peak gain close to 10x. To judge whether the token can keep rising and for how long, the author highlighted three factors.
The first is how long the current meme coin momentum on Robinhood Chain can last. Over the past week, discussion on X around Robinhood Chain memes has picked up, and on-chain meme trading volume has risen with it, sending more token issuance and trading demand to Pons. If that attention fades and traders described in the article as 「P 小将」 move to another ecosystem, PONS could lose outside buying support while buyback strength also weakens if protocol revenue falls.
The second is whether Pons can keep its lead among token launch platforms. Continued attention on Robinhood Chain does not automatically mean Pons captures the benefit. The key question is where new issuance and trading demand ultimately goes. The report noted that when Flap’s daily issuance exceeded Pons in an earlier stretch, PONS market capitalization traded in a range of $30 million to $40 million. More than the absolute number of tokens launched, the author said Pons’ market share on Robinhood Chain is the metric worth watching.
The third is whether the platform can produce a meme coin that breaks out beyond its existing circle. The report said that for PONS market capitalization to move toward $500 million or $1 billion, Pons may need a meme coin that can keep attracting capital and discussion. What the platform currently lacks, in the author’s view, is a high-market-cap meme coin with lasting attention. If a token launched on Pons quickly reaches a $50 million or even $100 million valuation, the article said the wealth effect on the platform could strengthen and PONS could see another wave of FOMO.
The report was written by Asher and published by Odaily, then carried by PANews.