PONS, the token associated with the Pons token-issuance platform on Robinhood Chain, has risen sharply alongside a surge in new token launches and trading activity on the network. Dune data shows Pons has become Robinhood Chain’s leading venue for daily token creation, while DefiLlama places its recent protocol revenue above that of Jupiter and Polymarket.
PONS moved from an estimated market value below $40 million a month ago to nearly $300 million, after briefly reaching about $400 million during the past week. The token was valued near $60 million only a week before that peak, underscoring how closely its market performance has tracked the platform’s growth in launches and trading.
Pons, operated by Pons Labs, is an independent application built on Robinhood Chain rather than an official Robinhood product. Users create and trade tokens through wallet-signed transactions, with the platform stating that it does not take custody of user assets.
pons takes the lead in daily launches
Dune data shows that Pons issued more than 12,000 tokens on Aug. 27, overtaking Flap to become Robinhood Chain’s largest platform for daily token launches. The venue has retained that lead in the days since, expanding its advantage over competing launch platforms.
On the latest day included in the Dune dashboard, users created more than 22,000 tokens through Pons. That represented 66% of all daily token issuance on Robinhood Chain, giving the platform a dominant position in the network’s fast-moving market for newly created assets.
Trading activity has concentrated even more heavily on tokens launched through Pons. Tokens created on the platform accounted for 78% of Robinhood Chain’s daily trading volume for newly launched tokens, according to the same Dune data.
The combination of issuance and trading dominance gives Pons a larger base from which to collect fees than rival launch venues. It also leaves the platform exposed to the volatile economics of token-launch activity: a sustained decline in new creations or speculative trading would directly reduce the fees feeding its revenue model.
The scale of the recent expansion has been substantial. Pons has processed roughly 290,000 token launches from about 86,000 unique creators since mid-July, according to figures provided by the project. Those numbers point to a platform driven by high-frequency, low-cost token creation rather than a small number of large launches.
revenue climbs with trading fees
DefiLlama recorded $930,000 in Pons protocol revenue over the past 24 hours, placing the platform seventh in its protocol-revenue ranking. Jupiter recorded about $800,000 over the same period, while Polymarket recorded roughly $660,000, according to DefiLlama.
The data platform also showed $5.02 million in total fees paid by users on Pons during that 24-hour period. Fees and protocol revenue measure different parts of the platform’s economics: total fees represent the amount paid through the application, while protocol revenue is the share retained by the protocol after its fee arrangements.
Pons charges a 1% fee on trades, according to its documentation. Under its updated contracts, 70% of trading fees goes to token creators and 30% goes to the protocol. The design gives creators a financial reason to direct activity toward Pons, particularly when their tokens generate sustained turnover after launch.
The project said total fees generated on the platform had surpassed $34 million, with more than $20 million distributed to creators. That creator-focused split may help explain why activity moved rapidly toward Pons after competing venues had established earlier leads.
Pons requires creators to provide a token name, ticker, image and social links. Each token begins with a fixed supply of 1 billion units, while the stated creation cost is 0.0005 ETH. The low launch cost and standardized token setup reduce the operational barrier to deploying an asset, though they also make the platform’s activity dependent on continued appetite for highly speculative new tokens.
buybacks connect revenue to PONS supply
Pons’ tokenomics direct 80% of the protocol’s fee share toward purchasing PONS on the market and burning the acquired tokens, according to the platform’s documentation. The remaining 20% is allocated to infrastructure and team operations.
Using DefiLlama’s reported $930,000 in daily protocol revenue, the stated allocation would direct about $744,000 toward PONS buybacks and burns, with roughly $186,000 reserved for operations. The actual amount used for purchases can vary with contract execution, revenue timing and the platform’s accounting, but the formula means higher protocol revenue would increase the funds designated for buybacks.
Pons reported on Aug. 28 that 29% of PONS’s total supply had been burned. The burn mechanism does not automatically remove PONS every time a new project launches. Instead, launches and subsequent trading can generate fees, and the protocol’s designated revenue share is then used to buy PONS before taking those tokens out of circulation.
That distinction places trading volume at the center of the model. A large number of token launches alone does not necessarily produce substantial buyback activity; those tokens must attract enough trading to generate fees. Pons’ current 78% share of Robinhood Chain’s new-token trading volume therefore carries more weight for its token economics than launch counts alone.
Blockworks Research has described PONS as trading at a price-to-revenue multiple of about 0.7, based on its revenue calculations. Such comparisons can shift quickly for platforms built around short-term token speculation, because both fee generation and token valuations can change sharply from day to day.
competition remains a central risk
Pons’ rise followed a rapid change in the competitive landscape on Robinhood Chain. The earlier market leader, Noxa, stopped new token mints on July 11, creating room for activity to move to other venues. Flap later emerged as a leading competitor before Pons moved ahead in late August, according to the Dune launch data.
That history shows how quickly launch-platform market share can change when a competitor alters its rules, fees or product availability. Pons now holds a strong lead, but its revenue engine depends on retaining creators and traders who can move to another venue with relatively little friction.
The immediate indicators to watch are Pons’ share of daily token issuance, its share of new-token trading volume, and the protocol revenue reported by DefiLlama. Those figures determine whether the current level of fee-funded PONS buybacks can continue, while the platform’s creator payouts remain a major incentive for projects deciding where to launch.
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