A TRADER DOWN OVER $6M ON A $PONS SHORT JUST LAUNCHED A ZERO-FEE CLONE ๐จ๐๐
Whale trader Loracle built a massive short position between $16M and $20M against $PONS on Hyperliquid. When the price kept rising, he was left sitting on over $6M in unrealized losses, facing forced liquidation near $1.90. ๐ธโ ๏ธ
Instead of closing his position, Loracle launched an aggressive counter-move. He used an AI model to code and launch PEZ, a zero-fee clone of the Pons launchpad on Robinhood Chain. ๐ ๏ธโก
While Pons takes platform fees, PEZ charges 0% fees so coin creators keep 100% of trading fees. The plan was clear: pull creators away from Pons, drain its protocol fees, and stop the buybacks that support the token price. ๐ฏ๐
Traders called the tactic "inverse bagwork", building a competing app just to save a short trade.
The strategy immediately ran into heavy market resistance. While PONS dipped initially, buyers quickly bought the dip. Within 1 hour, the token recovered its losses and rebounded by about $70M in market cap as traders attempted to squeeze the short position. ๐๐
https://pez.family
Would you trade on a zero-fee launchpad? ๐
#Crypto #DeFi #Hyperliquid #Memecoins
Whale trader Loracle built a massive short position between $16M and $20M against $PONS on Hyperliquid. When the price kept rising, he was left sitting on over $6M in unrealized losses, facing forced liquidation near $1.90. ๐ธโ ๏ธ
Instead of closing his position, Loracle launched an aggressive counter-move. He used an AI model to code and launch PEZ, a zero-fee clone of the Pons launchpad on Robinhood Chain. ๐ ๏ธโก
While Pons takes platform fees, PEZ charges 0% fees so coin creators keep 100% of trading fees. The plan was clear: pull creators away from Pons, drain its protocol fees, and stop the buybacks that support the token price. ๐ฏ๐
Traders called the tactic "inverse bagwork", building a competing app just to save a short trade.
The strategy immediately ran into heavy market resistance. While PONS dipped initially, buyers quickly bought the dip. Within 1 hour, the token recovered its losses and rebounded by about $70M in market cap as traders attempted to squeeze the short position. ๐๐
https://pez.family
Would you trade on a zero-fee launchpad? ๐
#Crypto #DeFi #Hyperliquid #Memecoins
