Publier
@chani
$PONS is down hard from its peak, but the bigger question is: has the fundamental story actually broken?
📉 Fees/revenue have fallen sharply, and trading activity is much weaker than during the September hype.
🔥 But the buyback mechanism is still active:
Fees → Protocol share → 80% Buyback → $PONS → Burn
The real risk isn’t just the price drop — it’s whether volume and fee generation keep declining.
If activity rebounds, buyback pressure can recover.
If revenue continues falling, the burn
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