Unexpectedly, PunkStrategy really turned

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ChainCatcher
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ETH+1.22%

On the Ethereum mainnet, a coin called $PNKSTR has risen by about 160% in the past two days, and its market value once exceeded $50 million, becoming a dazzling scenery in the extremely dry on-chain market. Currently, the token is pulling back slightly with a market capitalization of around $43 million.

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full name of >$PNKSTR is "PunkStrategy", which completes the circular flywheel of NFTs and tokens by trading CryptoPunks NFTs. A 10% fee is charged for each $PNKSTR transaction, and 8% is deposited into the protocol. Once the protocol pool accumulates fees that can be used to purchase CryptoPunks, the contract will automatically purchase one floor price CryptoPunks and automatically list at 1.2 times the purchase price. After a successful sale, the resulting ETH will be purchased and burned $PNKSTR.

Currently, $PNKSTR's fee income is close to 700 ETH, and the complete buy-sell transaction process for 12 CryptoPunks has...

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