Pons: Flips Pump.fun in Daily Fees via Tokenized Stocks

Pons has flipped Pump.fun in daily fee generation by grafting meme-liquidity mechanics onto tokenized stocks. Retail trading infrastructure is undergoing a structural shift. When Robinhood popularized zero-commission trading, retail trading economics shifted toward payment-for-order-flow with brokerages aggregating front-end attention while market makers captured the spread. DeFi protocols now test a different architecture for equity distribution through protocol-owned liquidity that alters retail trading economics and market power.