PONS tags new all-time highs overnight; protocol revenue north of $1M a day
Buybacks approaching 30% of supply; revenue multiple compresses as price lags the fee print
The PONS protocol revenue tracker — over $1M in the last 24 hours, mid-stream.
The token tagged new all-time highs overnight and nearly hit the five level before retracing. Daily revenue sits near a million dollars with protocol revenue north of $1M in 24 hours and buybacks approaching 30% of supply — and because price has lagged the growing fee stream, the multiple has actually declined. 'If this continues for another day or when these numbers get published, I wouldn't be surprised if we take another leg higher.'
OSF put $200K into Boner, the meme coin paired with HIMS stock — instantly down $26K, but he calls it the best meme of the lot and his Fartcoin flashback: the coin did 14% of HIMS's NYSE volume on just its second day, and the top holder (an Ethereum ICO participant, by his own bio) published a thesis on FOMO. He compares it to CASHCAT at $250M and the AI/NVIDIA pair at $200M, and expects other stock pairs to reach $100M+ as trad-fi press picks them up.
The game launched yesterday and a full day of data already shows a pattern: almost the entire top 50 are momentum apes (chase breakouts, pyramid winners), and DJ Entai — who owns 100-150 of the traders — holds all top three spots on levered-long PONS and wrecked trades. Only 47 liquidations so far, with one trader's final act a pyramid-ad short on Moodeng. Leverage has stepped from 2x to 6x, heads to 15x next and maxes at 250x; OSF expects the run to finish Sunday.
On 'when does Wrecked go to $1B?': the token is down 2% today in a gap-up-on-buyback, drift-lower pattern, and he thinks a staking program would move it — but badly timed staking just creates a short squeeze plus emissions, so they're holding it. He ruled out routing protocol revenue to NFT holders as a security risk, and is weighing ERC-6551 real-money trading bots (fund your trader's wallet with $100, let it trade on-chain) once custody questions are solved. 'Three or four ideas on paper' for the flywheel.
Asked about Binance ecosystem coins, OSF said he sold his entire New Lie position at local highs for a six-figure profit ('felt like Robin Hood had more of the tailwind') while MARSCOIN is up 100% today. He flags Stockfon as the closest Solana analogue to PONS — strong revenue, but only 60% of fees buy back the token versus PONS's 80%, and he saw it at a $2M cap before it ran to ~20. He generally avoids Solana coins after repeated bad experiences, and notes Binance Life peaked near $500M as the comp to watch.
ISM manufacturing came in slightly below expectations without moving markets much: stocks are a touch lower but off the lows, rates a bit higher. GoPro ripped on a big short squeeze and an announced AI-merger into the data-center space — OSF had it up this morning planning a punt and didn't pull the trigger. Bitcoin is hovering at the 77-78K level, and he hopes it holds: 'That will stop the fun for us a little bit' if it breaks down.
OSF started the day up $150K, drifted to down-on-the-day, then caught a bid from memory stocks: Micron and the complex are up, so he's green on the day. He's watching Moo — a $10M meme-stock pair he calls an interesting trade, worth a starter into a weekend squeeze, though he doesn't own it yet. On new-launch hygiene, he notes Uniswap v4 hooks can offer anti-snipe/anti-bundle mechanics but admits there's no real defense against bad actors who control supply.
Wrapping up, OSF repeated his conviction that DGN activity and tokenized stocks are the start of the next wave, that staying locked in every day is how you build the confidence to go hard when the next big thing lands — 'you'll get in other PONS for sure, you'll get another CASHCAT.' September and the end of the year should be busy, and four-year cycle believers get better markets next year. He still prefers owning the casino (PONS) to owning the coins on it.