Trader Loracle Launches Zero-Fee Pons Fork to Counter Long Position

Huo Xing Cai Jing reports that on September 6, according to TradingBeats monitoring, as the PONS token continued to hit new highs approaching a $1 billion market cap, trader Loracle has consistently increased their PONS short position, currently holding a short value of approximately $23 million, with an average entry price of $0.65 and a liquidation price of $1.82, resulting in an unrealized loss of about $7 million. Amid deep losses on the short position, Loracle unveiled a strategic move, posting on X that they have launched a forked version of the Pons token platform using the Fable 5.1 AI model, named pez「.」family, which is now live, with platform fees set at 0%. The crypto community speculates that Loracle’s public launch of this zero-fee, open-source fork of Pons aims to undermine PONS’s narrative by copying the competitor and engaging in a price war, hoping to demonstrate that the Pons platform is easily replicable and thereby rescue their short position.