Mobee Research gives PONS a rating of NEUTRAL with medium risk, a score of 2.8 out of 5.
This article summarizes the basis for that assessment: how Pons generates revenue, why its token structure is actually safer than many new projects, and the single figure that makes its valuation highly fragile.
Key Points
- Pons is a no-code meme token launchpad on the Robinhood Chain network
- Its protocol revenue is real and can be publicly tracked via DeFiLlama
- A portion of the revenue is used to automatically buy back and burn PONS tokens
- The entire token supply is already in circulation, so there is no risk of delayed unlocks
- The biggest risk is the highly volatile daily revenue, which once dropped 82.7% in two weeks
- The project was only about two months old when this report was compiled, so its track record is still very short
What Is Pons (PONS)?
Pons is a launchpad, a platform that makes it easy for anyone to issue their own tokens.
What sets it apart is that users do not need to know how to code. Simply define a name, ticker, and image, and the token is issued with a fixed supply. The platform is also non-custodial, meaning it does not hold user assets.
New tokens use a bonding curve mechanism in the early stages. Once sufficient liquidity is reached, the token graduates to a Uniswap V4 liquidity pool.
Pons runs on the Robinhood Chain and has been the dominant launchpad on the network since mid-July 2026, after its competitor Noxa stopped accepting new token launches. It should be noted that information regarding this competition comes from unofficial channels and has not been cross-confirmed.
On Mobee, PONS is available via the PONS/IDRpair.
How Pons Generates Revenue
This is what sets PONS apart from typical meme tokens.
Every trade on the platform incurs a fee. A portion of that fee goes into the protocol, where it is used to buy back PONS tokens from the market and burn them.
The process is simple: the more people launch and trade tokens on Pons, the more fees are collected, and the more PONS is burned.
Since the burn is permanent, the token supply decreases over time. This is verifiable: the circulating supply recorded today is slightly lower than it was when the report was compiled three days earlier.
All of these fee flows are recorded on the blockchain and can be publicly tracked via DeFiLlama. This means the revenue claims are not just statements from the project team.
A technical note from the report: the ratio of protocol revenue to total fees remains consistently in the 17.5 to 18.7 percent range, regardless of whether the platform is busy or quiet. This consistency indicates that the business model is mechanically stable.
A Rare Token Structure
Most new crypto projects share the same problem: a large portion of tokens are still locked and will be gradually released into the market over the next few years. These releases increase supply and often put downward pressure on the price.
PONS does not have that problem.
The entire supply is already in circulation. There are no major unlock schedules in progress, and there is no special allocation for the team or investors separate from the community.
This is why two out of the five factors in the Mobee Research score received high marks.
The scoring pattern is clear. The token structure is strong, while the price action is what drags the value down.
Valuation Compared to Competitors
Because Pons is not a DEX or lending protocol, the metric used is annual revenue rather than TVL.
PONS trades at about half the multiple of its competitors.
This discount can be interpreted in two ways, and the report intentionally avoids labeling it as cheap. PONS has a much shorter history, the Robinhood Chain ecosystem is still much smaller than Solana's, and its daily revenue has just seen a sharp correction.
There are also limitations to the methodology that should be understood: this comparison uses only one benchmark. With a single data point, the median figure does not reflect the sector average. The conclusion is indicative, not definitive.
Three 12-Month Scenarios
All figures below use the report's reference price of US$0.5955 as of September 21, 2026.
The combined expected value is approximately 6.5% below the market capitalization at the time the report was prepared. This is worth noting: the weighted average is negative, not positive, because the bear case carries more weight than the bull case.
Also note that the bull scenario places the price above the all-time high of US$0.9710. The report explicitly highlights this.
Key Risk: Highly Volatile Revenue
This is the most important figure in the entire report.
Pons daily revenue peaked between September 5 and September 6, 2026. If annualized, that peak level is equivalent to US$750.8 million per year.
The current level is equivalent to US$162.85 million per year.
This means revenue has dropped by approximately 78% from its peak in just a matter of weeks. The report notes that daily fees once plummeted 82.7% from the peak within two weeks.
Because valuations are calculated based on revenue, fluctuations of this magnitude cause target figures to swing wildly. The bear scenario uses the baseline from the quiet period of August 16 to August 23, 2026, which is equivalent to an annual revenue of just US$26.0 million.
The gap between US$26.0 million and US$750.8 million is nearly 29-fold, and it all occurred in less than two months.
As a stress test, the report also calculates a scenario where all factors move pessimistically at the same time. The result is a market capitalization of US$26.0 million, or a 93.7% decline. This figure is presented as a stress test, not as a base case scenario.
Other Risks to Consider
Centralized smart contract control. There is a role for a protocol owner or trusted operator who holds centralized control. The report emphasizes this risk outside a score of 2.8, and depends entirely on the project team's governance practices. Important note: the 2.8 score only measures market and tokenomics factors.
Very young project age. With a data history of about two months, almost all ratios used are temporary and could shift significantly as the project matures.
Incomplete ownership data. The distribution analysis only covers 10,000 of the 95,940 recorded addresses. Conclusions regarding ownership concentration are therefore still indicative.
Limited liquidity. The market depth factor only received a score of 2 out of 5. For assets with these characteristics, understanding liquidity before entering is far more important than understanding the targets. The explanation is in Crypto Liquidity.
Extreme volatility. This factor received the lowest score, 1 out of 5. The price rose more than 1,500% in 30 days before correcting by about 35%. The nature of these movements is discussed in What Is Volatility.
Recent Price Notes
The report was compiled on September 21, 2026, with a reference price of US$0.5955.
As of September 24, 2026, PONS is trading at around US$0.635, up about 6.6% from that reference price, although it has fallen sharply in the last 24 hours. Its market capitalization is approximately US$434.8 million. You can check the current price in rupiah on the PONS/IDR.
This movement shifts the target positions:
- Target Base US$0.60 is now slightly below the market price
- Target Bull US$1.049 is about 65% above the market price
- Target Bear US$0.096 is about 85% below the market price
This extremely wide range is not a flaw in the model, but an honest reflection of a two-month-old asset with revenue that can fluctuate dozens of times over in a matter of weeks.
Conclusion
Pons has something rarely seen in meme-themed projects: real revenue that anyone can track, and a token structure that is fully circulating with no threat of delayed dilution.
However, those strengths rest on an untested foundation. A two-month track record, revenue that has swung 29 times between its low and high points, and a valuation comparison based on only one competitor.
A NEUTRAL rating with a score of 2.8 reflects that balance. Before considering an asset with these characteristics, understanding how to size your position according to your risk profile is far more critical than guessing the price direction, as discussed in How to Choose Assets.
Frequently Asked Questions
This report is intended for reference purposes only and does not constitute financial advice. Always conduct your own research before making investment decisions. Crypto assets carry high risks and their prices can fluctuate at any time.
