Uniswap Buys Stake in PONS, Token Skyrockets to New All-Time High

Uniswap Labs has strengthened its partnership with PONS by purchasing a stake in the protocol. The move sent the PONS token to a new all-time high of $0.75, with prices surging over 40% in the last 24 hours and more than 507% in the past week.

The partnership comes as PONS reported rising activity on its platform, with more than 63% of Robinhood Chain launchpad volume passing through the protocol in the past 24 hours. Uniswap Labs' purchase gives both projects long-term alignment, according to a statement from PONS.

PONS has implemented deflationary mechanics since launching, burning over 29% of its total supply and using 80% of protocol fees for buying back and burning tokens.