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Pons’s Most Aggressive Short Seller! Trader Loracle Builds a Zero-Fee Fork of Pons from Scratch to Save His Short Position
Mars Finance News, September 6: According to monitoring by TradingBeats, as the PONS token continues to hit new highs and approaches a market cap of $1 billion, trader Loracle has continued adding to his PONS short position. The short is currently worth approximately $23 million, with an average entry price of $0.65, a liquidation price of $1.82, and an unrealized loss of approximately $7 million.
Deeply underwater on the short position, trader Loracle unveiled a clever tactic. In a post on X, he announced that he had used the Fable 5.1 AI model to create a fork of the Pons token launch platform called pez「.」family, which is now live. He also claimed that the platform charges 0% in fees.
The crypto community speculates that Loracle’s public launch of a zero-fee, open-source fork of Pons is intended to undermine the PONS narrative through imitation and a price war, thereby rescuing his short position by demonstrating that the Pons platform can be easily replicated.