$PONS is a useful example of why I refuse to call every buyback figure recurring earnings. DefiLlama shows $20.38m of user fees over 30 days, $3.07m of protocol revenue and $3.88m of holder revenue. Holder revenue exceeding same-window protocol revenue is not proof of an impossible business model. Buyback timing, accumulated balances and accounting boundaries can make these series diverge. The real audit is the funding transaction, the destination wallet, the token burn and the date each leg settled. Until those reconcile, annualizing the larger number would be misleading.
We saved these words the moment we read them. They can't be changed here.
$PONSStamped with the block it was said at, and the coin's price right then. It can't be moved later. at block100,500,461market cap then$194.81Mnow−21%best1.00×1h−3.1%24h−23.4%- price read from Uniswap v3 pool 0x10cc6b…26ba at block 100500461
- ETH priced in USDG at Uniswap v3 pool 0x52e65b…71ca
- 328,130,593 PONS at burn addresses not counted in supply