$PONS | October 11 Data Update
PONS platform metrics continue to hit new lows.
It feels like a frog slowly boiling in water: a little more decline every day, and no idea when this trend will finally stop.
Over the past 24 hours, trading volume on Robinhood Chain DEX was around $800M, roughly unchanged from yesterday.
PONS platform metrics continue to slide
Trading volume: $43M → $37.6M (-12.6%)
Platform fees: $574K → $460K (-19.9%)
Protocol revenue: $74K → $60K (-18.9%)
New token launches: around 2.3K, roughly unchanged
Holders: 103,272 → 103,437 (+165)
The burn rate has actually picked up
Around 600,000 tokens were burned the day before yesterday, followed by another 800,000 PONS yesterday.
The cumulative burn ratio rose from 32.13% to 32.21%. There is still around $1.3M in the buyback pipeline that hasn't been used.
But keep in mind that these burns don't necessarily mean platform revenue is improving; they may mostly be coming from buyback funds accumulated earlier.
What can we look at next?
Honestly, I'm starting to feel numb to PONS's daily metrics.
Trading volume, fees, and revenue keep falling, and burns alone are unlikely to change the situation.
At this point, whether PONS can bounce back may well depend on whether Robinhood Chain can bring in new users and trading volume.
I'm still keeping an eye on it, but I don't want to keep coming up with comforting explanations for these numbers.
If you still hold PONS, are you cutting your losses and leaving, or holding on and waiting for a rebound?
PONS platform metrics continue to hit new lows.
It feels like a frog slowly boiling in water: a little more decline every day, and no idea when this trend will finally stop.
Over the past 24 hours, trading volume on Robinhood Chain DEX was around $800M, roughly unchanged from yesterday.
PONS platform metrics continue to slide
Trading volume: $43M → $37.6M (-12.6%)
Platform fees: $574K → $460K (-19.9%)
Protocol revenue: $74K → $60K (-18.9%)
New token launches: around 2.3K, roughly unchanged
Holders: 103,272 → 103,437 (+165)
The burn rate has actually picked up
Around 600,000 tokens were burned the day before yesterday, followed by another 800,000 PONS yesterday.
The cumulative burn ratio rose from 32.13% to 32.21%. There is still around $1.3M in the buyback pipeline that hasn't been used.
But keep in mind that these burns don't necessarily mean platform revenue is improving; they may mostly be coming from buyback funds accumulated earlier.
What can we look at next?
Honestly, I'm starting to feel numb to PONS's daily metrics.
Trading volume, fees, and revenue keep falling, and burns alone are unlikely to change the situation.
At this point, whether PONS can bounce back may well depend on whether Robinhood Chain can bring in new users and trading volume.
I'm still keeping an eye on it, but I don't want to keep coming up with comforting explanations for these numbers.
If you still hold PONS, are you cutting your losses and leaving, or holding on and waiting for a rebound?