Income vs. Buybacks: Which Stock-Paired Meme Platform Tokens Are Worth Accumulating?

Original by Odaily Planet Daily (@OdailyChina)

Author: Asher (@Asher_0210)

Over the past two weeks, equity-linked Meme coins have dominated social media feeds. Previously, Odaily Planet Daily compiled two articles on popular Meme coin roundups from specific high-profile listings (recommended reads attached at the end).

As equity-linked Meme coins surge, the issuance platforms behind them are emerging as more stable beneficiaries. Pons generated over $10 million in revenue in the past 7 days; StonkFun's single-day revenue once surpassed Pump.fun; Four.meme also launched its 4Stock model, bringing popular US stocks not yet covered by bStock onto BNB Chain......

Odaily Planet Daily has compiled for readers the issuance platforms supporting equity-linked Meme coins across three major ecosystems—Robinhood Chain, BNB Chain, and Solana—analyzing their token issuance models, revenue scales, and platform token value recapture mechanisms to identify potential Alpha.

Robinhood Chain Ecosystem

Pons: Revenue Reached $10.67 Million in the Past 7 Days

Pons is a token issuance and trading platform operated by Pons Labs, where users can create and trade tokens entirely through personal wallet signatures; Pons does not custody user assets. The platform has its own native token, PONS. According to GMGN data, PONS' market cap has surged recently, peaking at $990 million before retreating to the current $810 million.

Each new token on Pons has a fixed total supply of 1 billion, with a creation cost of just 0.0005 ETH. The platform charges a 1% fee on trades. Creators only need to fill in the token name, ticker, image, and social links to complete the issuance. Dune data shows that Pons has been issuing between 15,000 and 30,000 tokens daily over the past week, making it the absolute leader among Robinhood Chain token issuance platforms.

Currently, for tokens issued via Pons' new contract, trading fees are split between the creator and the protocol at a 70/30 ratio (the old contract uses a 90/10 split). Of the protocol's fee share, 80% is used for market buybacks and burns of the native token PONS, while the remaining 20% funds infrastructure and team operations. Pons generated $10.67 million in revenue over the past 7 days, surpassing Pump.fun ($9.76 million) and Fomo ($8.91 million).

According to stateofblocks data, PONS daily burn volume has exceeded 1.2 million tokens over the past 7 days, worth nearly $1 million (at a token price of $0.82). Additionally, 30% of PONS' total supply has already been burned.

Long.xyz: Cumulative Stock Token Trading Volume Exceeds $1 Billion

Long.xyz is one of the earliest token issuance platforms on Robinhood Chain to support "stock-paired Meme" coins. Unlike platforms that typically use ETH or stablecoins as quote assets, Long.xyz allows creators to directly select stock tokens such as NVDA, AAPL, TSLA, and SPY as trading pairs, meaning users' buying and selling of Meme coins simultaneously generates trading volume and liquidity for the corresponding stock tokens. As of September 8, cumulative trading volume of stock tokens on Long.xyz has surpassed $1 billion.

Long.xyz recently launched LongX Expansion, wrapping Lighter's 3x long NVIDIA positions into freely tradable ERC-20 tokens. Users can not only mint and redeem these tokens but also use them as trading pairs for new coins—effectively integrating leveraged stock assets into the Meme coin issuance ecosystem.

Long.xyz has not officially issued a platform token, but its team has repeatedly used platform fees to buy back Artificial Inu (AI), and the newly launched LongX Expansion will also allocate a portion of trading fees to AI buybacks. According to GMGN data, AI's market cap peaked above $400 million and is currently reported at $230 million.

To date, approximately 27.53 million AI tokens have left circulation, representing 2.75% of the total supply. Of these, around 8.59 million have been actually burned (0.86% of total supply); another ~8.59 million are permanently locked in the community treasury, with the remainder coming from pair-lockups and OTC buybacks. The timeline is as follows:

• Long.xyz conducted its first buyback and burn of 2 million AI on July 26;
• Starting from late July, platform fees were automatically used for burns and lockups;
• After August 13, fees generated from new token pairs with AI were also continuously used for buybacks and lockups.

PAIR: 90% of Protocol Revenue Used for Platform Token Buybacks

PAIR is an RWA token issuance platform on Robinhood Chain focused on multi-stock trading pairs. Unlike other platforms that only allow one quote asset per new token, PAIR lets creators establish up to five stock token liquidity pools for the same token simultaneously. For example, a newly issued Meme coin can be paired with NVDA, TSLA, AAPL, SPY, and other stock tokens all at once. All liquidity pools are built on Uniswap V4 and permanently locked—no bonding curve phase is required, and there's no migration-to-DEX process after reaching a market cap threshold.

PAIR has issued its eponymous platform token, PAIR. According to GMGN data, PAIR's market cap briefly exceeded $40 million before retreating to the current $9 million.

According to the platform's disclosed revenue distribution plan, 90% of protocol revenue is used for market buybacks of PAIR, with the remaining 10% allocated to onboarding new creators, marketing, and infrastructure development. According to DefiLlama data, PAIR generated approximately $362,000 in fees over the past 7 days, with protocol revenue of about $109,000; cumulative fees since launch stand at approximately $558,000, with cumulative protocol revenue around $169,000.

According to pair.fund data, PAIR has burned 106.7 million tokens to date, representing 10.67% of the total supply.

BNB Chain Ecosystem

Four.meme: First Equity Meme Coin Reached $80M+ Market Cap Within 3 Hours of Launch

Four.meme is the most well-known Meme issuance platform on BNB Chain. Yesterday, it launched the stock token issuance model 4Stock, aiming to bring popular US stocks not yet covered by Binance bStock onto the chain. According to GMGN data, the first Meme coin using stock token BNC4 as its base pool, 4Stock, reached a market cap above $80 million yesterday and is currently reported at $45 million.

4Stock operates in two steps: first, US stocks are mapped 1:1 into stock tokens, then Meme coins are issued using these stock tokens as the base pool. When users apply to mint stock tokens, they must transfer at least 10,000 USDC to a designated wallet and submit a Mint form. Four.meme commits to purchasing the corresponding shares through a custodial account within 24 hours, then issuing stock tokens at a 1:1 ratio based on the actual shares acquired. If the stock later lists on Binance bStock, the platform will convert the corresponding 4Stock tokens into bStock at a 1:1 ratio.

Four.meme's first offering is BNC4, a stock token pegged to US-listed CEA Industries (BNC), followed by the issuance of the eponymous Meme coin 4Stock using BNC4 as its base pool. Within just 3 hours of launch, 4Stock reached a peak market cap of $90 million; BNC4's on-chain price briefly exceeded $30, representing a roughly 10x premium over BNC's underlying share price (Read more: Single token hits $700M ATH in 3 hours, BNC pre-market surges over 50%—BSC equity Meme flywheel starts again).

In terms of revenue, Four.meme charges a 1% minting fee on 4Stock stock tokens like BNC4, while also earning from trading fees and LP fees on related products. Although Four.meme has issued its platform token FORM, 4Stock revenue is currently not used for FORM buybacks. A daily buyback campaign for BNC4 launched today and will run until December 9. During this period, 100% of BNC4's daily product revenue will be used to buy back and burn eligible community Meme tokens.

Flap: BNB Chain as Primary Base, with Robinhood Chain Presence

Flap is a token issuance platform supporting multiple EVM networks including BNB Chain, Robinhood Chain, and X Layer. Unlike platforms that only offer fixed bonding curves, Flap.sh distinguishes itself by allowing creators to configure their own transaction taxes and decide where those taxes ultimately flow.

• On Robinhood Chain, Flap launched Stocks Vault, where creators can pair Meme coins with stock tokens such as AAPL, GOOGL, NVDA, PLTR, and SPY, or automatically convert transaction taxes into stock tokens for distribution to Meme coin holders;
• On BNB Chain, Flap launched Permissionless Launch, which allows creators to input any token contract address and set stock tokens, RWAs, blue-chip crypto assets, or other Meme coins as the quote asset for new tokens.

Flap has not yet issued a platform token, nor does it allocate protocol revenue to buy back a specific token. Platform revenue primarily flows into the protocol treasury, while other fees generated from transaction taxes are used—according to creator-defined rules—for holder dividends, liquidity provision, accumulation of RWA assets like stocks, or buyback-and-burn of the corresponding Meme coins. As such, while Flap has buyback and dividend functions, value primarily recirculates to the various tokens issued on the platform rather than consolidating into a single platform token.

In terms of revenue scale, BNB Chain remains Flap's absolute main battleground. According to DefiLlama data, Flap generated $11.74 million in total revenue over the past 30 days, with BNB Chain contributing $11.53 million—98% of total platform revenue; Robinhood Chain contributed only $200,000.

Solana

StonkFun: ~$1.5 Million in STONK Buybacks Over the Past 7 Days

StonkFun is the most talked-about stock Meme issuance platform on Solana, championing the concept of "Launch coins paired with anything," allowing users to use stocks, ETFs, commodities, forex, and other crypto assets as quote assets for new tokens. Compared to stock Meme platforms on Robinhood Chain, StonkFun's biggest advantage is direct access to Solana's existing trading liquidity. StonkFun has issued its platform token, STONK. According to GMGN data, STONK's market cap briefly exceeded $180 million and is currently reported at $160 million.

On September 5, StonkFun partnered with Raydium, becoming the first third-party issuance platform to integrate with Raydium LaunchLab. Since then, newly issued tokens first trade through LaunchLab's bonding curve, and once conditions are met, liquidity automatically migrates to Raydium. Following the launch of this partnership, StonkFun's revenue grew rapidly, with single-day revenue exceeding $1.5 million on September 6, surpassing Pump.fun during the same period.

StonkFun's primary revenue comes from trading fees on permanently locked LP positions after platform-issued tokens migrate to Raydium. Unlike platforms that only charge during the bonding curve phase, StonkFun continues to earn LP fees as long as the relevant tokens remain tradable on Raydium. According to DefiLlama data, funds used for STONK buybacks over the past 7 days amounted to approximately $1.5 million; cumulative buybacks total approximately $2.12 million, with the purchased STONK subsequently burned.

Additionally, StonkFun uses a portion of trading fees to buy back top-tier issued tokens on the platform by market cap, with 78 tokens currently included in the buyback-and-burn program.

Recommended Reads

"No Time to Watch the Chain? Which Robinhood Chain Tokens Offer a Second-Chance Entry?"

"This Meme Wave—Which Tokens Are Worth Bottom-Fishing?"