The crypto industry, initially envisioned as a decentralized platform empowering the people, has seen a shift towards centralization and value extraction by venture capitalists. However, the Pond ecosystem, created by the controversial crypto personality Jeremy Cahen AKA @Pauly0x, aims to reclaim that power and value for holders.
According to @Kenobi in his twitter article PONDX PLAYERS GUIDE, ‘@Pond0x is a decentralized platform offering basic DEX functions. You can swap any ERC-20 token and bridge assets to/from other chains. What distinguishes Pond0x from other DEX’s are the numerous benefits to users of the platform. Users get to experience regular rewards, free claims, and ‘easy mode’ DeFi yield farming mechanisms via the platform token $PNDC’. In its first 200 days, Pondex has done over $679 million in volume and given back $28,560,000 in claimed rewards to its users.
The Pond Ecosystem also includes $PORK, created by a group of Pepe community members after the Pepe team misappropriated over $15 million in community funds. As detailed in Kenobi’s article $PORK, THE PEPE FORK, the Pepe team also held over 15 trillion tokens without permission or compensation to the creator of Pepe, Matt Furie. Pauly0x raised and donated $2 million to Furie from the Pond community, as reported in the Binance article Matt Furie Receives Second $1mil Gift in $Pork from the Pond0x Community – Crypto 2.0.
The Ecosystem’s Layer 2 blockchain, MAGMA, aims to solve current crypto issues, such as high transaction fees on Ethereum. As Crypto Dominium explains, ‘Designed as a multichain liquidity network, Magma offers developers, node operators, and users a permissionless path to customize and launch liquidity-first, economically secure applications.’ The Binance article $PORK: Transforming MEME Coin Dynamics with Market Makers and Tier 1 negotiations. Magma Chain Next further elaborates on this.
Pauly0x defines Crypto 2.0 as ‘A new paradigm in the industry, one where actual innovation and execution are paramount. And above all, one in which the users are the primary beneficiaries of ALL products. In Crypto 2.0, we, the users are KING.’
This news story relied on a press release distributed by BlockchainWire. Blockchain Registration, Verification & Enhancement provided by NewsRamp™. The source URL for this press release is The Pond Ecosystem Unleashes Layer 2 Blockchain Magma, Leading Crypto 2.0 Revolution.