The market conditions on the PONS and Long chains are divergent, and the lack of liquidity has intensified the selling pressure; Hookr has risen against the trend, and modular Hooks have become the new main line of the bull market.
Author: Haotian
Reflecting on the recent "alienated" market conditions on-chain:
1) $PONS, made by data, broken by data. The low-cost token issuance with a Pump-style DNA means it can only find larger ecosystem nourishment and support in the mid-to-late bull market. In the early bull phase, it is easily affected by liquidity scarcity and temporary retreats, which impact buyback data and subsequently bring significant selling pressure.
As a leading launchpad that feeds on ecosystem dividends, it is bound to continue leading the next wave of on-chain ecosystem dividend periods, but the volatility in this process will make most people suffer and feel uncomfortable;
2) Long ($AI), the mainstay of the tokenized stock "distribution cause." Like many people, I greatly love Long's narrative of meme-paired tokenized stocks and the founder's consistent dedication to stock distribution and deep accumulation as goals.
But like Pons, tokenized stocks are currently only the paired quote leg of Long. Everyone playing Long is essentially driven by the MEME craze, and will likewise feed on ecosystem dividends. Once liquidity is scarce, it will also suffer a major blow. Compared to Pons's simple and crude buybacks, AI's long-term behavior of using stocks as LP actually provides weaker support. For Long, getting out of the predicament depends on a strong boost from Robinhood Chain officially. The narrative is sound, the direction is stable, and Robinhood and Vlad Tenev have reason to focus on supporting it.
3) $HOOKR, an outlier rising against the trend amid the downturn. Both RHC and Uniswap have been continuously promoting the Hooks narrative, because the shortcomings of Pons and Long are precisely the stage where Hooks can shine. The fundamental reason pure assembly-line launchpads lack support is that the rules are too singular. Relying solely on buybacks obviously does not work, especially since Pons has also been criticized for buybacks not being procedurally transparent.
What the Hooks mechanism aims to do is set diversified rules for these launch mechanisms, including anti-sniping, dynamic fees, automatic burning, LP revenue sharing, compliance and regulatory Allowlist, and so on. Hookr is a modular, programmable open market for Hooks. Quite a few projects have already integrated Hookr's modules, and only when these diverse hooks are added in batches to some emerging projects will those projects have more technical framework support, rather than being pure narrative, concepts, and chip manipulation itself.
This is exactly why I have always said Hookr will become the protagonist in the mid-to-late bull market, because only a market where Hookr Nodar plays the leading role is a prosperous market where excellent Devs emerge frequently, innovative rule combinations emerge frequently, and high-quality projects emerge frequently. Unfortunately, most people still fail to recognize this. This is also precisely Hookr's shortcoming: it needs more time to validate and promote.