Let’s estimate the extraction:
$151M in $PONS fees to devs, $45M in gas fees, $18.7M exposed by Wazz, and ~$100M in stocks minted by RH, bots ~$100M
Even conservatively assuming Wazz extraction is 20x higher (Musk/Vlad/etc hacks,
Yesterday, $PONS recorded its lowest day of revenue, earning just $30,000.
A few months ago, it was pulling in almost $6M in a single day, and in September alone the protocol made $137M in fees.
So, the question on everyone's mind is: where exactly did all that liquidity go?
