Here's to the ones who never left $PNKSTR
I’m proud to announce that we’ve donated ownership of the PunkStrategy contract to the NODE Foundation.
I view the contracts we create at TokenWorks as art. NODE is already the home of the CryptoPunks IP, and I think they’re the right people to carry this idea forward. Being able to donate PunkStrategy to them means a lot to me.
With this transfer, TokenWorks’ share of trading fees will now go to NODE, giving them a new revenue stream to support artists, exhibitions, and more. We think this is the best home for the project.
PunkStrategy runs autonomously and is designed to keep running for as long as Ethereum does. At the time of writing, the contract holds 37 Punks, which remain governed by its rules. The owner can only do three things:
* Set the trading fee on the hook between 1% and 10%
* Set the relisting multiplier for newly purchased Punks between 1.1x and 10x
* Claim the owner’s share of trading fees.
We’ll continue tweeting about PunkStrategy’s buys and sells and supporting the project. Both TokenWorks and I personally remain significant holders of PNKSTR.
The Token Works
Study what's happening with $CREDITSTR right now
Initial treasury build is key for any Strategy to work
On a more optimistic note, this is how $PNKSTR will pump once @cryptopunks price really starts moving again
@token_works @Rhynotic Why not do a bit of marketing before launching new strategies? Initial momentum is crucial to the long-term success of any strategy.
$PNKSTR
I don't really understand what's going on with the new @token_works strategies.
New NFT strategies are launching apparently at random times, with no news or notice whatsoever.
I wish we would go back to the old ways were we would get an announcement and a fixed schedule
The anti-sniper mechanism should return to the way it was (1% decrease in tax per minute, instead of block) as even the game theory on the timing to buy was made launches much more interesting, burning a lot of $PNKSTR in the process.
This has been underwhelming to say the least
31 new Strategies already in queue
I am not very bullish for them in the short term as there will be so many that it will be hard to catch attention right away
What I am bullish is 10% of trading fees going to burn $PNKSTR (and 10% more indirectly through @FWAssets Punklister)
In an upcoming NFT bull market (that I have 100% conviction will come) $PNKSTR burn will monetize the volatility from all these collections
Reflexivity will be multiplied and so should your targets
Still a long way (up) to go
Dream bigger
If you can't see that this is the beggining of the next $PNKSTR bull market then I can't help you
More Strategies
More trading fees
More $PNKSTR burned
Forever
And all that whether @cryptopunks price goes up or not
Accelerate
The reasons $PNKSTR is the comfiest hold.
Forget any short term targets.
+1 Billion is preprogrammed.
Just need to trust the code and have patience.
In just 4 days, $PNKSTR went from a $7 mil market cap to a $17 mil market cap and burned more than 1.6% of the supply. 🤯
Let's talk about what happened and about future catalysts for Punk Strategy!👇
- In September, Punk Strategy sold 3 punks.
- Huge @cryptopunksbot sweeps started a few days ago. Dozens of Punks were sold, and the price floor moved from 29,5 $ETH to 34 $ETH.
- A new strategy was launched that brought a huge amount of volume to $PNKSTR as well!
- New buyer in town. 0.2% of the $FWA trading fees is dedicated to buying Punks listed by Punk Strategy regularly.
- About 200 new holders joined the $PNKSTR fam.
Everything mentioned above drove value to $PNKSTR, but the most important factor was the price movement of Crypto Punks. $PNKSTR is a form of leveraged bet on Crypto Punks, and it is directly affected by their price performance.
If Punks are sold, it creates a liquidity event that burns tokens, brings more fees, and pushes the price up. You could see the leverage in action a few days ago. The Crypto Punks floor went from 29,5 $ETH to 30 $ETH, and $PNKSTR did more than 2x!
Of course, it works both ways. If Crypro Punks floor goes down, $PNKSTR will suffer even more. But it collects fees on the way down and captures value anyway.
So what are the main catalysts for Punk Strategy?
- Direct connection to Crypto Punks success. If Punks go up, $PNKSTR will go up even more!
- Every other NFT Strategy burns $PNKSTR, so Punk Strategy is also an index for the success of the broader NFT ecosystem.
- Success of $FWA. 0.2% of $FWA fees will be used to buy Punks from Punk Strategy regularly.
- If @Rhynotic dedicates some of his time to the Strategy Ecosystem, it will be another catalyst for sure.
$PNKSTR is just a patience game! If you believe in CryptoPunks, it is a no-brainer. The mechanisms mentioned above will never stop.
$PNKSTR is code-driven, so it is easy to predict what is going to happen. In my opinion, the success of $PNKSTR is preprogrammed in the market with good sentiment. I'm ok to hold and wait through bearish times. I should be alright long-term.
Remember, $PNKSTR can be worth 1$ even with a $10 mil market cap thanks to the aggressive burn mechanisms.
@token_works
Frok now on anyone can permissionlessly launch a @token_works Strategy for every new collection o @FWAssets.
1% of all volume goes directly to buy and burn $PNKSTR and another 1% goes to buying the Strategy Punks
$PNKSTR is also a bet on @Rhynotic future successful ideas
If you are not a whale, $PNKSTR is how you bet on this.
In 2/3 years will be able to afford your Punk and when that time comes, remember to thank @token_works and buy it from the Punkstrategy treasury.
The $PNKSTR thesis was always simple
ETH overperforms-> wealth effects on Ethereum-> NFT and @cryptopunks demand/value multiplies-> all Strategies burning $PNKSTR
$PNKSTR is a leveraged bet on $ETH and the NFT market in general
Mania will return
Zoom out
You are so early
1B
Time to experience $PNKSTR reflexivity, only this time to the upside again.
And this time Punks get relisted at +10% instead of +20% making the flywheel even more responsive
If you are waiting for a dip forget about it. There are just no sellers left
FOMO in and enjoy the ride
$PNKSTR got to 300m mc with hype alone.
This time around we start with:
36 @cryptopunks already in the treasury
1000x better distribution - only diamond hands left
Many other Strategies buying and burning $PNKSTR forever
$FWA buying the treasury Punks
1 Billion
Not if but when
All the sellers have left $PNKSTR a long time ago.
All of us left are the hardcore diamond hands.
$ETH up
@cryptopunks volume up
$PNKSTR repricing hard
And all that with everyone sidelined and caught off guard.
Imagine what happens when the slightest bit of attention returns.
PunkStrategy ($PNKSTR) Bull retweeted
$PONS JUST BEAT HYPERLIQUID.
For a long time, one of the strongest hyperliquid:native bull cases was simple:
Huge fees + buybacks.
Now Pons is doing more fees.
30d:
> Pons: $108.2M
> Hyperliquid: $77.0M
That makes Pons the #4 protocol in ALL of crypto by fees right now.
Only Tether, Circle and Uniswap are ahead.
And the valuation gap is ridiculous:
> hyperliquid:native: ~$17.5B market cap
> $PONS: ~$413M
hyperliquid:native is valued ~42x higher.
Of course Hyperliquid still makes much more actual protocol revenue. But Pons has already sent ~$11.8M into $PONS buybacks + burns - and the protocol has barely been alive for two months.
Hyperliquid proved how powerful the revenue + buyback trade can become.
Pons is starting to build the same kind of machine at a fraction of the valuation.
This is why I still think $1B is not the finish line for $PONS.
Two market makers are now sitting on 14.6M $PONS.
This is getting hard to ignore.
Cumberland:
> 11.6M $PONS
> ~$7M position
> buying every day for a week
> 8.5M withdrawn from Gate before the latest buy
Wintermute:
> 3.43M $PONS
> accumulated gradually through TWAP-style buying
Combined:
~15.03M $PONS.
And this is happening while PONS already has roughly $16.8M sitting across its Uniswap V3 liquidity pools.
One market maker showing up can be inventory.
Two of the biggest liquidity firms in crypto independently building positions around the same token is where I start paying attention.
First Wintermute. Then Cumberland.
Now I want to know what they’re getting ready for.
$PNKSTR ready to start burning again with two @token_works Punks at floor
