Literally feels like @RobinhoodCrypto chain revived the trenches. Spent the weekend digging through the ecosystem and it's the interesting experiments and ideas that got me, (not the charts tbh). The numbers are ofc insane (ngl, even for the robinhood tag). $2.66m in app revenue in 24h on aug 31, past ethereum ($1.27m) and hyperliquid ($1.7m), only solana is ahead. On a two month old chain. i would not have believed it crosses $ETH on fees this fast. @gmgnai, @ponsdotfamily and @Uniswap are like ~90% of that. ( and ofc @Uniswap v4 powers like everything underneath). So, ethereum:0x07f5b6823751c2e2cd4560f28af75ff887102241 is the engine. Over $260M mcap, 36.9k holders, $46m+ in lifetime launchpad fees. And v2 is where it gets even more interesting: tokens paired against tokenized equities instead of a gas coin. $NVDA, $AAPL, $HOOD. BTW gotta say CT folks are insane with experimentation, @RuneCrypto_ recently shared he took 37.4% of a $4.8m NASDAQ listed stock to pair with a memecoin and short squeeze the bears ig. not sure how it's gonna play out, but that it is def rise of next meta with memes. I follow @AvgJoesCrypto for research ofc, but also for some of his early calls. And he was early to PONS. Recently saw his $FOMO app posts on @ponstrategy and went looking. The mechanic took me a minute to appreciate. > The strategy is a contract whose only job is to convert the fees it earns into another asset and hand that asset to whoever holds it. > $PONSTR points 100% at ethereum:0x07f5b6823751c2e2cd4560f28af75ff887102241 and distributes every four hours, to every wallet, creator take zero. > The treasury is immutable and one-directional. nothing withdrawable, nothing new issued, no claim on a pile. The asset arrives straight to the user wallet. The factory that kinda generalises this went live 3 august on uniswap v4 hooks: 2% fee per token, treasury takes the majority, baskets of up to five whitelisted tokens. IIRC, $PONSTR was the first to implement it (IIRC, midd july). @anger_trading called it the "Microstrategy" of ethereum:0x07f5b6823751c2e2cd4560f28af75ff887102241 and @bfresh called it the "Index of PONS". TBH both kinda land. Now the crazy part, @ponstrategy has active 39 days in: 204 drops, 271k pons out, worth $14.2k on the days it dropped, over $100k now. 8.29% of supply burned. About 900 unique holders. Market cap ~$200k. roughly 2x what it has already paid out. If we look at similqr models and compare the value distributed back to holders vs the market cap, it feels strange. $INDEX: ~$1.5m distributed, ~$29m mcap, ~20x. $PONSFOLIO: ~$70k airdropped, ~$1.28m mcap, ~18x. similar constructs, wildly different multiples. Ofc, as always, NFA. But def looks like the trenches are so back.