The Pond0X decentralized exchange (DEX) has reached more than $100 million in total trading volume, according to a September 28 social media post from its official channel. Investors previously lost over $2 million in the launch of the exchange’s native token, PNDX, when the coin turned out to have a transfer function that allowed anyone to transfer it without the owner’s permission. But supporters claim these losses were not the fault of the developer.
$108,000,000 Trade Volume ✅
And counting.
What comes next…?
— Pond Coin (@Pond0x) September 28, 2023
As evidence for Pond0X DEX’s trading volume, the official channel cited a Dune dashboard created by user mogie, which shows over $111 million in all-time trading volume as of September 29.
The PNDX token launched on July 28. At the time, critics accused the project of being a “rug-pull” or exit scam. At issue was the unorthodox way that the project’s founder, Jeremy Cahen (also known as “Pauly”), launched the coin. In the launch post on X (formerly Twitter), Cahen posted the URL to an app that allowed people to deposit a fixed amount of Ether (ETH) to receive a fixed amount of PNDX. He also posted the…
