Uniswap Buys PONS Stake, Token Jumps 40% to New All-Time High

Uniswap Labs has purchased a stake in PONS as part of a longer-term partnership, sending the token to a new all-time high of $0.75.

The move comes as the Pons team reported rising activity on the platform, with more than 63% of Robinhood Chain launchpad volume passing through the protocol over the past 24 hours.

Uniswap Labs Confirms the Purchase Pons announced the purchase on September 4, saying the deal would deepen its partnership with Uniswap and give the two projects “long-term alignment.” However, the post did not disclose how much PONS Uniswap Labs purchased or the value of the transaction.

Still, the market reaction was immediate. At the time of writing, PONS was trading at $0.71, up 40.2% in the last 24 hours and more than 507% in the last week, per CoinGecko.