new product by @TheIndexFi which will fit nicely on @ponsdotfamily - it deployed couple hours ago so you've never seen this link/screenshots/etc before. everyone benefits: > pons - new product on top of existing infra > creators - new narrative, attention > users - dividends > index - new cash inflow and its nice v4 case study. so how this works? tldr - token creators will be able to pay their token holders with dividends in stocks just like Index doing themselves with their holders. so every coin gets a treasury. details: > a creator picks a basket of tokenized stocks > chooses how much of the remaining fees go to holders > gets a deterministic treasury address before deploying the treasury > launches the coin on @PonsEcosystem and sets creatorFeeRecipient to that address > $pons escrow starts accruing fees immediately > the keeper binds the coin and each payout round buys one stock for that coin's holders so creators are buying a product for their own bagholders: recurring $NVDA, $SPY, $QQQ, $AAPL or a custom stock basket, paid from the coin's own trading fees. whatever share the creator does not send to holders stays claimable by the creator Indices clips a fixed 10% of everything routed through the treasury. receiver split(): > 50% buys $INDEX through the canonical pool and sends the bought tokens to DEAD > 50% becomes USDG and goes to the existing USDGBuyerDistributor > that distributor buys tokenized stocks and pays them pro rata to $INDEX holders > the buyback itself crosses the existing 3% INDEX hook, adding another stock-buying stream so the flywheel is: pons coin volume → creator fees → stocks for that coin's holders → 10% Indices cut → 50% $INDEX buyback + burn → 50% stock rewards for $INDEX holders this is how $INDEX rewards stop living off organic $INDEX volume alone. every opted-in pons coin can become an external revenue source all of this shipped today: > 19:34:57 UTC - early factory deployment > 21:23:27 UTC - current IndexTreasuryFactory deployed > 21:51:23 UTC - protocol receiver deployed > 21:51:24 UTC - receiver wired into the factory > 21:56:14 UTC - the current TLS certificate for became valid > 23:07:15 UTC - first treasury deployed > 23:10:29 UTC - first treasury funded with 0.1 ETH > 23:32:33 UTC - frontend redeployed again while I was tracing it contracts: > factory: 0x3450cEdfDD7F1082D766c8B8998C326D3696E8Df > implementation: 0x6bDc8993Dc922DC32E33A9c654b795AF53005C8e > protocol receiver: 0x0f5A32F791f536482d5BA27A58749F02c8b0cBbC > stock distributor: 0x2459DedB3012d1E929EdD17DF26620120bDF11bf > first treasury: 0xFACA543C31693d504B598222DEafaA59F720C978

$HYPE looks like a buy again soon at the $40 - $50 levels > currently retesting the 1W 21 EMA > governing trendline from lows ~$50 > retest of prior Sep highs > VRPV block around $50 > 55 EMA ~$43 fundamentals still up and to the right, will love to get this entry tbh

market still pricing $PONS as if revenue is unsustainable; fair enough only time will tell xRev (mcap/ann.Rev) chart has been quite useful so far > above 1x seems to result in quick selloffs > chart has been putting in higher lows my read is 1x + = market thinks its too long before mcap is paid back; i.e. participants do not believe in persistence of the protocol to stay relevant to earn back its mcap in 1 year+ but whenever xRev drops to a level where the market deems it sustainable, price bounces hard. higher lows so far shows that the market is slowly buying the revenue story

seeing some takes for $PONS v2 launch to be "priced in" sure, some aspects of price action could be attributed to speculation but main data point to track is still rev/day if revenue keeps rising w v2, your priced in thesis will quickly be proven wrong w buybacks

Amidst all of the "Base is struggling" rhetoric when compared to Robinhood chain, the onchain numbers don't lie. Been relatively steady across revenue, app revenue, stablecoin supply, and TVL throughout this entire bear market. Feels very silly to make any claims about one chain being in trouble due to another's success, but we've all been there before...