Uniswap Labs Buys PONS as Token Fees Surge to $5.95M Daily

Uniswap Labs has acquired PONS, a token that generates significant fees on Robinhood Chain. The token, used in Uniswap V4 liquidity pools, reached an all-time high of $0.5242 and generated $5.95 million in daily fees over the past 24 hours.

PONS traded at $0.5013, up 17.5% from the previous day, according to CoinGecko. The token's market capitalization climbed to $357.1 million, placing it 118th among cryptocurrencies by market value.

Uniswap Labs' purchase of PONS was described as a 'deepening of the relationship between the two projects.' However, neither party disclosed the size or price of the transaction.