Matthew Kaner | Will Travel For Wine edited by Cheef Huuzit for compliance purposes.
In what arena do community leaders making donations to valued creators who often go under-appreciated? Only in Crypto 2.0: a new paradigm for cryptocurrency, instituted by Jeremy Cahen AKA @Pauly0x.
Pauly0x with a team of developers created a decentralized cryptocurrency exchange (DEX) called Pond0x. The DEX has only been in existence for 173 days at the time of writing this article. Since its launch Pond0x has been responsible for $564.1million in volume of it’s native coin $PNDC, and the second coin launched by the protocol, $PORK. The energy of Pond0x first took shape from the swell of popularity around the $PEPE memecoin that launched in Spring of 2023, centered around Pepe the Frog, a famous meme based on the character created by Matt Furie. Matt has been chronicled in multiple documentaries, including the 2020 film Feels Good Man.
In 2023 Pauly0x and the Pond0x team first donated $1,000,000 in $PEPE to Matt Furie in a revolutionary move, showing appreciation for the work Furie has done for the space and as a token of their love for Pepe’s value as the most famous and noticeable meme on the internet.
In an earth shattering turn of events on February 21st the Pond0x DEX sent a donation of 2,159,368,814,685 $PORK, with a value of just over $1,000,000 at the time of the donation. The gravity of this kind of move cannot be overstated—there are simply no other movements in the cryptocurrency space showing appreciation to this level to one individual who has given the community so much joy and provided a character with the meme value as with Pepe the Frog.
What sets Pond0x apart from any other DEX is how they use their designed flywheel to redistribute fees back to the community of protocol swappers and holders of $PNCD & $PORK. In most crypto transactions users pay fees for blockchain use but also to the protocol users are making the transaction through, such as Uniswap. Those feels are collected by the DEX and used however they see fit. Crypto 2.0 is all about the users. The wins go to the users. They are not lining the pockets of Venture Capitalists and project founders. Since Pond0x’s inception 173 days ago at the time of writing this article, the protocol has redistributed 1,584 Ethereum (around $5,000,000 value at the time of writing this article) to users of the protocol’s Pond Water rewards.
Pond Water can be collected when holders of $PNDC lock up their holders into a “stream” for a duration as short as one week or as long as 49 weeks. There is a 7 day vesting period, at which time users are eligible to claim their pond water, which is calculated by the amount of $PNDC a user has locked and the duration for which it was locked.
For full disclosure Matthew Kriner is a holder of both $PNDC and $PORK, and this article is not financial advice. All data around the Pond0x DEX can be researched and verified on this dune dashboard.
By Matthew Kaner | Will Travel For Wine
CEO Will Travel For Wine Consulting | Co-Founder Bar Covell & Augustine | Sommelier of the Year 2013 by Food & Wine Magazine | 40 Under 40 Tastemaker in 2019 by Wine Enthusiast Magazine | Host & Producer on the SOMM TV Network 2019-2022
Distributed and edited by Cheef Huuzit
Author
Chris Munch is a professional cryptocurrency and blockchain writer with a background in software businesses, and has been involved in marketing within the cryptocurrency space. With a passion for innovation, Chris brings a unique and insightful perspective to the world of crypto and blockchain. Chris has a deep understanding of the economic, psychological, marketing and financial forces that drive the crypto market, and has made a number of accurate calls of major shifts in market trends. He is constantly researching and studying the latest trends and technologies, ensuring that he is always up-to-date on the latest developments in the industry. Chris’ writing is characterized by his ability to explain complex concepts in a clear and concise manner, making it accessible to a wide audience of readers.
