MEXC Meme Trading Contest The competition for the three-tier prize pool continues to heat up. But rather than staring at the trading volume numbers on the leaderboard, a more fundamental question isMEXC Meme Trading Contest The competition for the three-tier prize pool continues to heat up. But rather than staring at the trading volume numbers on the leaderboard, a more fundamental question is
PONS, AIINU, USELESS: What's Driving This Meme Rally?
MEXC Meme Trading Contest The competition for the three-tier prize pool continues to heat up. But rather than staring at the trading volume numbers on the leaderboard, a more fundamental question is worth thinking about first: What are the coins you trade actually rising?
Among the more than 30 currencies participating in this trading competition, PONS , AIINU , and USELESS are the three officially marked as the main recommended targets. They are not randomly selected - each represents a completely different pricing logic in the Meme track. Understanding the differences between these three logics is a prerequisite for judging "what money you are making".
PONS: a deflationary platform coin driven by protocol revenue
PONS is the token of the Pons platform. Pons is deployed on Robinhood Chain and is an issuance platform that allows users to create and trade a fixed amount of tokens.
The core difference between PONS and most Meme coins is that there is a direct transmission mechanism between its price and the real economic activity of the platform.
The platform charges a 1% handling fee for each token transaction, of which 30% belongs to the agreement. About 80% of the agreement revenue is used to repurchase and destroy PONS in the secondary market. This means that the more active the issuance of coins on the platform and the more frequent the transactions, the more repurchase funds there are, and the less circulating supply of PONS.
The effectiveness of this mechanism can be verified from on-chain data. Pons platform's protocol revenue in the past 24 hours is about $950,000, ranking seventh on the protocol revenue list, higher than Uniswap's about $580,000 during the same period. The initial maximum supply of PONS was 1 billion, and currently about 29% has entered the destruction address. Uniswap Labs announced the purchase of PONS in early September, and within hours of the announcement, PONS rose by about 40%.
The risk lies in the pro-cyclicality of the mechanism. The revenue of PONS is highly dependent on the popularity of Meme trading itself. When the issuance activity cools down and the trading frequency decreases, the repurchase intensity will weaken synchronously. On-chain data shows that early investors entered the market when the market value of PONS was about $10 million, and the current paper profit is abundant. Any liquidity expansion may become a trigger point for profit-taking.
AIINU: Liquidity Binding of Meme and US Stock Tokens
AIINU (Artificial Inu) is positioned as "People's AI Dogecoin", but what really sets it apart from ordinary Meme coins is the asset structure of the liquidity pool .
AIINU's liquidity pool holds over $3.30 million of NVDA tokens (NVIDIA stock tokens), which is about three times the depth of its WETH pool. This means that there is a direct liquidity correlation between AIINU's pricing and NVIDIA stock tokens - the intersection of AI narrative and RWA narrative has unique recognition in the Robinhood Chain ecosystem.
The price performance presents a typical Meme coin pattern: it has risen by about 40-45% in the past week, and has risen by more than 70-80% in the past month. However, when extended to the one-year dimension, the value of AIINU has shrunk by more than 82-94%.
Liquidity Risk is a key variable in AIINU. Its daily trading volume fluctuates in the range of $1000-2200, which means that relatively small buy and sell orders can have a significant impact on prices.
USELESS: Attention-Driven Community Consensus Asset
USELESS 's logic is different from the previous two. It has no roadmap, no utility, no commitment - the name itself is a statement of position. Its price is determined entirely by community consensus and social attention.
USELESS first appeared on Solana in May 2025 and has gone through several complete cycles of ups and downs. The driving force behind the current rise comes from three aspects: the recent launch of two Korean trading platforms, which has expanded the accessibility of spot traders; well-known trader Bonk Guy (Unipcs) has expressed optimism multiple times; and the momentum effect created by the 160% weekly increase itself.
The circulating supply is close to 1 billion, almost all of which can be traded, and there is no future unlocking selling pressure. But this also means that the selling behavior of existing holders constitutes continuous price pressure . Early buyers have considerable unrealized gains after the token recovery. Once social attention weakens, these holders can sell immediately without waiting for any unlocking timetable.
Common constraints of three logics
PONS relies on protocol revenue repurchase, AIINU relies on the liquidity depth of the NVDA token pool, and USELESS relies on the continuous gathering of social attention. The three mechanisms seem different, but share the same underlying constraint: their prices are highly dependent on the continuation of Meme trading heat.
PONS repurchase requires continuous active coin issuance activities; AIINU's NVDA pool requires the stock token market to maintain depth; USELESS requires social discussions to maintain buying pressure. When the overall heat of the Meme sector fades, these three logics will face pressure at the same time.
MEXC's characterization of USELESS also applies to understanding PONS and AIINU: "USELESS is currently experiencing attention-driven repricing, not fundamental revaluation." All three are experiencing some form of attention pricing - the only difference is whether the source of attention is protocol revenue, stock token liquidity, or pure community sentiment.
Understanding logic is more important than chasing gains
Understanding these logics is not about judging "which coin will rise", but about clarifying what money you are making when participating in trading competitions.
PONS participants earn from the supply tightening brought by the agreement repurchase; AIINU participants earn from the market sentiment of the intersection of AI narrative and stock tokens; USELESS participants earn from the short-term gathering of community consensus and attention. The three sources of income are different, and the corresponding risk characteristics are also completely different.
Having a clear judgment framework for the assets held while increasing trading volume is more important than blindly chasing after rising prices.
The MEXC Meme Trading Competition is still ongoing, and the competition for the three-tier prize pool and the leaderboard is not yet settled. No matter which target you choose, first understand its pricing logic, and then decide whether to participate
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This article is provided by MEXC for informational purposes only and does not constitute financial or investment advice. Cryptocurrency markets involve significant risk. Please conduct independent research or consult a qualified professional before making any investment decisions. The views expressed do not necessarily represent those of MEXC or its affiliates.
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