Author | Asher (@Asher_0210)
After NOXA ceased issuing new tokens, Flap was the first to capture the token issuance traffic from Robinhood Chain. On July 14, Flap created over 11,000 tokens in a single day, accounting for more than 35% of all tokens issued on the chain that day, with Bankr, Klik, and trench.today also absorbing a portion of the traffic.
Two weeks later, the chaos has yielded a clearer outcome.
Dune data shows that on July 15, Pons issued over 15,000 tokens in a single day, rising to the top of Robinhood Chain’s token issuance platform for the first time. Since then, Pons has consistently maintained the highest daily token issuance volume and has gradually widened the gap with platforms like Flap.
In addition to the daily coin issuance, the trading volume of tokens on the Pons platform also began to grow rapidly from mid-July. On July 18, Pons achieved a single-day trading volume of $40.7 million, surpassing NOXA’s $37.4 million for the first time, and has since maintained the top position. To date, the cumulative trading volume on the Pons platform has exceeded $1.5 billion.
On July 26, Pons accounted for 77.1% of the total trading volume on the Robinhood Chain token issuance platform, while the second-place NOXA accounted for only 6.6%. Pons is not only the platform with the most token issuances but also dominates the majority of trading volume on the Robinhood Chain token issuance platform.
From Flap stepping in to meet the demand left by NOXA's exit, to Pons surpassing it in both token issuance volume and trading volume, a new leader has emerged on the Robinhood Chain token issuance platform.
No bonding curve, no migration required—Pons slashes the token launch process to its shortest possible duration.
Pons is a token issuance and trading platform built specifically around Robinhood Chain, operated by Pons Labs and not an official Robinhood product. Users can create and trade tokens on the platform, with all actions signed by individual wallets; Pons does not custody user assets.
Currently, each new token on Pons has a fixed total supply of 1 billion, with a creation cost of only 0.0005 ETH, and the platform charges a 1% fee on trades. Creators can complete issuance by simply entering the token name, symbol, image, and social links.
Unlike the common bonding curve model used by Pump.fun and Four.meme, the current version of Pons deploys the token contract and Uniswap V3 liquidity pool in a single transaction, locking liquidity immediately. Once the token is launched, it trades directly with WETH, eliminating the need to wait for the bonding curve to sell out or any subsequent migration to an external DEX.
Once the paired WETH in the trading pool reaches the default threshold of 4.2 ETH, the token is marked as "graduated," but the original trading pool remains unchanged, allowing users to continue buying and selling within the same pool. Pons also implements a protection period for the first two blocks after a new token listing, limiting individual wallet purchase volumes and holding ratios to reduce the risk of concentrated buying by a few addresses during the opening phase.
Pons' mechanism has no complex innovations; its advantage lies in its simplicity. Creators don't need to provide initial liquidity or worry about migration after the bonding curve ends; traders can discover, buy, and sell tokens on the same platform.
In the early stages of Robinhood Chain, numerous projects and traders sought low costs, fast issuance, and instant trading. Pons compressed the path from token creation to trading openness into a single on-chain transaction, laying the foundation for its rapid attraction of token issuers, bots, and short-term capital.
Surged over 15 times, PONS drove increased platform popularity
Pons has been able to distinguish itself from other platforms in a short time, and apart from product and data growth, the sharp rise in its platform token, PONS, may be a key driver.
According to GMGN data, on July 16, the market cap of PONS was under $5 million, then rapidly surged to a peak of over $67 million, achieving a stage gain of more than 15 times. Since then, the price has pulled back and is currently around $40 million in market cap.
Currently, transaction fees for tokens issued through the new Pons contract are distributed between the creator and the protocol at a ratio of 70% and 30% (the old contract distributed them at 90% and 10%). Of the protocol’s share of fees, 80% is used to repurchase and burn PONS on the market, while the remaining 20% supports infrastructure and team operations. On July 28, the official team stated that 22% of the total PONS token supply has been burned.
Compared to the daily issuance of tens of thousands of new tokens, PONS is more likely to become the unified asset recognized and traded by the market for the Pons narrative. As the price of PONS continues to rise, more capital begins to focus on its underlying issuance platform and enters the Pons ecosystem to discover new projects; the growth in platform trading volume generates additional fees and buyback funds, further reinforcing PONS’s price performance.
For Pons, PONS is not just a platform token, but also a key entry point for attracting new capital and users.
From Meme to RWA, Pons V2's positioning upgrade
What truly distinguishes Robinhood Chain from other blockchains is stock tokens and on-chain finance. Pons’s upcoming V2 is also beginning to extend in this direction. According to official disclosures, the platform will soon support transaction fee payments to token creators and CTO operators using ETH, USDG, or RWA assets.
Pons initially attracted a large user base and trading volume by issuing platform-native meme tokens; V2 aims to connect this issuance mechanism with Robinhood Chain’s stablecoin and RWA assets. For Pons, this means its positioning is evolving from a purely token issuance platform to one that supports a broader range of asset types and revenue settlement scenarios.