Pons: 20% of the PONS Token Supply Has Been Burned

BlockBeats News, July 21st, Robinhood Chain's native token issuance platform Pons announced that 20% of the PONS token's supply has been burned in just the past 8 days, and Pons will continue to use platform revenue to burn PONS.

According to GMGN monitoring, the market capitalization of Robinhood Chain's ecosystem token PONS briefly exceeded $39 million today, reaching an all-time high. It is currently trading at $33 million, a 24-hour increase of 105%, with a trading volume of approximately $13.7 million during the same period.

PONS is the platform token of Pons, the native coin issuance platform of Robinhood Chain. The platform supports the creation and issuance of fixed-supply tokens and uses the collected WETH fees to repurchase PONS and directly burn the collected PONS fees. It is seen by some in the community as Pump.fun on the Robinhood Chain.

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BlockBeats Note: On-chain token trading is highly volatile, heavily influenced by market sentiment and speculative concepts, with no actual value or use case. Investors should be aware of the risks.