Uniswap Acquires PONS Token on Robinhood Chain

Uniswap Labs has acquired the PONS token from the memecoin launchpad Pons, which has seen significant growth on the Robinhood Chain. The amount of the investment has not been disclosed. This acquisition is surprising as Uniswap and Pons are direct competitors, with Uniswap launching its own launchpad, Pools.trade, on August 5. The PONS token has increased by 37.61% in 24 hours, reaching $0.763, with a market capitalization of $543.58 million. Over seven days, its growth is 457.80%, and over 2600% in a month. Pons generated $5.95 million in fees in 24 hours, surpassing Pump.fun on Solana. About 80% of the fees are used to buy back PONS, resulting in the burning of 29.34% of the total supply. This move has sparked debates in the crypto community, with some seeing it as a weakness of Pools.trade, while others consider it a pragmatic strategy by Uniswap.