Pons’ buyback and burn intensity has clearly dropped by an order of magnitude. Currently, it only burns the equivalent of about $350 worth of crypto every 15 minutes.
Don’t panic—this doesn’t mean the protocol’s buyback ammunition has run out. It’s because the team hasn’t replenished the buyback distributor with funds yet.
Pons’ buyback mechanism isn’t fully decentralized and follows a two-step process:
Step 1: The team transfers funds from the custodial ledger (protocol revenue) to the buyback distributor;
Step 2: The buyback distributor automatically executes the TWAP program to buy $PONS and send it to the burn address.
There is currently about $1.65 million in the custodial ledger, with 80% intended for buybacks. But the buyback distributor only has $127,000 left—this is why $PONS is burning noticeably more slowly right now. Just wait for the team to top up the buyback distributor, and the firepower will increase.
Time to get to work, Oz.
#robinhoodchain $PONS
Don’t panic—this doesn’t mean the protocol’s buyback ammunition has run out. It’s because the team hasn’t replenished the buyback distributor with funds yet.
Pons’ buyback mechanism isn’t fully decentralized and follows a two-step process:
Step 1: The team transfers funds from the custodial ledger (protocol revenue) to the buyback distributor;
Step 2: The buyback distributor automatically executes the TWAP program to buy $PONS and send it to the burn address.
There is currently about $1.65 million in the custodial ledger, with 80% intended for buybacks. But the buyback distributor only has $127,000 left—this is why $PONS is burning noticeably more slowly right now. Just wait for the team to top up the buyback distributor, and the firepower will increase.
Time to get to work, Oz.
#robinhoodchain $PONS
