STONK vs PONS: The Launchpad Buyback War Just Flipped

Update, October 12, 2026: Refreshed with both tokens’ cooled revenue, PONS’ 32% burn and Coinbase listing, current market caps, and stock pairs spreading beyond both platforms.

The launchpad wars found a new main character this week. StonkFun’s STONK token overtook PONS in daily protocol revenue, barely five weeks after the Solana platform went live. Both projects run aggressive buyback-and-burn machines, both flipped Pump.fun in daily revenue this month, and both sit at the center of the stock-paired memecoin meta we have covered all summer.

So which one actually wins the STONK vs PONS fight? Let’s put the dashboards side by side.

STONK vs PONS: How We Got Here

Pons drew first blood. The Robinhood Chain launchpad went live on July 14 and needed only seven weeks to flip Pump.fun in daily protocol revenue, crossing $1.1 million per day on September 2. We broke down that upset in our Pons vs Pump.fun comparison, and the momentum kept building from there. Binance Alpha listed PONS on September 2, Uniswap Labs bought a bag “for long-term alignment” a day later, and the token printed a $0.97 all-time high on September 5.

StonkFun moved even faster. The Solana launchpad only launched on August 3, yet it flipped Pump.fun in daily revenue on September 6 with roughly $1.5 million in a single day. A Raydium LaunchLab integration that same week sent STONK up more than 250% in 24 hours. By September 10, StonkFun had overtaken Pons itself in daily revenue, and the crypto media picked up the story within hours.

Two launchpads, two chains, one playbook: pair memecoins against tokenized stocks, collect fees, and torch the native token with the proceeds.

Both machines have cooled since. Pons’ daily revenue fell from close to $2 million to roughly $240,000 by early October, as our PONS revenue update explains. StonkFun’s daily revenue slid to roughly a fifth of its peak within three weeks. Neither run has ended, but neither sits at its highs.

StonkFun’s Numbers: 14.4% of Supply Already Gone

Pull up StonkFun’s public revenue dashboard and the totals speak for themselves. Here is the snapshot as of September 11:

• Total volume: $1.47 billion across all venues, including $932 million through Raydium pools StonkFun created
• RWA volume: $427 million across xStocks, PreStocks, Tessera and Sunrise pairs
• Total revenue: $9.15 million in trading fees paid to the platform
• Buybacks: $5.45 million deployed, buying 143.58 million STONK across 67,332 swaps
• Burned: 144.7 million STONK destroyed, worth $46.8 million at current prices

That burn figure equals 14.4% of the original 1 billion supply, gone forever. The team confirmed the milestone on X this morning. Notice the burned total slightly exceeds the bought-back total: pairs that use STONK itself as the quote token burn fees directly, no buyback needed.

The mechanism routes roughly 60% of platform revenue into open-market STONK purchases that get burned, with the rest retained. Daily revenue has since cooled from its September 11 peak near $2.5 million. If you want the full breakdown of how the platform works, our StonkFun explainer covers the launch mechanics, and stock-paired Solana plays like Artificial Inu show what the tokens launching there actually look like.

One quick reminder: StonkFun has nothing to do with StonkBrokers, the similarly named launchpad on Robinhood Chain. Different platform, different chain, different token.

For what StonkFun’s coins pay holders, see our best StonkFun coins ranking

Pons’ Numbers: The Bigger Burn, For Now

Pons still holds the crown on cumulative numbers. Its Uniswap v4 hook pools have processed more than $6 billion in trading volume, counting graduated tokens only. Daily revenue, however, dropped from close to $2 million in late August and early September to roughly $240,000 in early October. That is an 88% decline.

The burn race still favors Pons. The team confirmed a 32% burn on October 6, with roughly 679 million PONS left in circulation. It also automated the buyback in early October, using a seven-day claim window followed by a rolling seven-day buyback and burn period. On percentage terms, Pons has destroyed more of its supply than StonkFun, though it had a three-week head start.

Price action tells the less flattering side. PONS trades around $0.43, roughly half off its September high. Coinbase opened PONS-USD spot trading on October 7, yet the listing produced only a modest bid. Our Coinbase listing breakdown has the details. Our PONS token deep dive tracks the burn milestones, and the Pons launchpad guide explains the fee splits if you want to launch there yourself.

STONK vs PONS Head to Head

Pons is still the bigger, older machine, with the deeper burn and a Coinbase listing. Both revenue engines have cooled, though, and StonkFun’s token now sits at less than half of Pons’ market cap.

My Take: I Rode PONS, Now I’m Watching STONK

Full transparency, because I always give it. I bought PONS at a $23 million market cap in July and scaled out on the way up, selling my final tranche when Hyperliquid listed PONS perps in early September, around a $280 million cap. Best trade of my summer. My reasoning at the time was simple: perps let big money short a parabolic chart, and the chart behaved exactly as expected afterward. I would re-enter PONS on a meaningful dip, but I hold zero right now.

STONK is the one I keep missing. I wanted an entry around $50 million in early September, and I never got it. I hold none today. The token has cooled from its September peak, and so has StonkFun’s daily revenue. My rule for both tokens is the same now: I want daily revenue to stabilize before I size in. The risk cuts both ways though: launchpad revenue is the most reflexive metric in crypto, and StonkFun’s fees could halve as fast as they doubled. Nobody should treat either token as a durable cash-flow business. These are momentum trades on the stock-paired memecoin meta, the same meta that pays out real tokenized stock airdrops to holders of coins like MARSCOIN, which I also traded in the upswing.

If the meta dies, both tokens bleed together. If it runs another leg, the smaller, faster one usually outperforms.

Trade Both From One App

Here is the practical problem with this trade: STONK lives on Solana and PONS lives on Robinhood Chain. Managing two wallets, two gas tokens and two DEX interfaces gets old fast.

The Fomo app solves that. It is a multichain, gasless social trading app where you can trade STONK, PONS and the entire stock-paired meme meta from a single account, and it is genuinely the easiest onboarding in crypto right now. Use promo code FairSaltySquid for 10% off trading fees. A Fomo airdrop is also widely expected, so trading volume there may pay you twice.

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Final Words

STONK vs PONS was the defining launchpad fight of September 2026, and it still has no clear loser. Both platforms out-earned Pump.fun at their peaks, both burn supply with revenue, and both ride the tokenized-stock wave. Neither revenue engine sits at its high today, though. Pons keeps the bigger totals, the deeper burn, and a Coinbase listing. StonkFun keeps the story and a smaller market cap.

Watch the revenue dashboards, not the price charts. The day either platform’s daily fees roll over is the day its token loses the narrative. Until then, this remains one of the few corners of the market where the fundamentals update every 24 hours, in public, on-chain. The trend that links them keeps spreading, and our Pons stock pairs guide explains how the pairing works.

Learn more about the FOMO app with our review.

FAQ

What is the difference between STONK and PONS? STONK is the token of StonkFun, a Solana launchpad for memecoins paired against tokenized stocks. PONS is the token of Pons, the dominant launchpad on Robinhood Chain. Both burn their supply using platform revenue.

Did STONK really flip PONS in revenue? Yes, in daily protocol revenue on September 10, 2026. Both have cooled since, so check the dashboards for the current leader.

How much STONK has been burned? 144.7 million STONK, or 14.4% of the original 1 billion supply, worth roughly $46.8 million at current prices as of September 11, 2026.

How much PONS has been burned? The team confirmed 32% of supply burned on October 6, 2026, leaving about 679 million PONS in circulation. Pons routes 80% of protocol revenue into buybacks and burns.

Is STONK or PONS the better buy? Neither is investment advice territory. STONK has the momentum and the smaller cap, PONS has the bigger revenue base and deeper burn. Both are high-risk momentum plays tied to launchpad activity.

Where can I trade STONK and PONS? Both trade on their native chains’ DEXs, and both are available on the Fomo app, which handles the multichain part for you.