Pond0x, a decentralized exchange (DEX) offering low fees and a wide range of trading pairs, has reportedly hit $100 million in trading volume in just over two months of operation.
The achievement was highlighted in a tweet by the project’s official Twitter account. Despite Pond0x’s success in achieving such a milestone, allegations of a ‘rug pull’ scam have begun to circulate on social media, raising questions about the platform’s legitimacy.
A ‘rug pull’ is a type of scam where a project team dumps large amounts of a coin’s supply onto the market, crashing its price and leaving early investors with large losses. The Pond0x team has addressed these accusations, though many in the community remain unconvinced.
Though the proposed fee structure of Pond0x is attractive to traders, due to its appeal to investor speculation, the project is still relatively new and unproven. Investors considering using the platform should take the necessary steps to ensure that their investments are safe.