PHILANTHROPY IS PUNK: TokenWorks Founder Rhynotic Donates His Punk Strategy Protocol To The Node Foundation!
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The Token works, but it’s under new management!
On Saturday, the Infinite Node Foundation announced that TokenWorks founder Rhynotic had donated ownership of his PunkStrategy contract to the organization, bringing his experimental CryptoPunk purchasing protocol to the nonprofit responsible for preserving the world's first NFT collection!
“As the home of CryptoPunks, we welcome independent projects that share its spirit of experimentation,” The Node Foundation wrote in a press release. “Punk Strategy is one such project, using the infrastructure of an existing onchain artwork to explore a new protocol design. NODE's technical capabilities and experience with blockchain-based art make us a natural fit to steward it.”
As the Gazette previously reported, Rhynotic launched his PunkStrategy token in September 2025, introducing the idea of a perpetual NFT buying machine that uses trading fees to acquire CryptoPunks, relist them at a higher price, and use the proceeds from sales to buy back and burn its own token!
The experiment quickly caught on, kicking off a new meta of strategy coins with projects from across the NFT ecosystem launching “flywheel” tokens with Token Works for their collections.
“I view the contracts we create at TokenWorks as art,” Rhynotic tweeted this evening. “NODE is already the home of the CryptoPunks IP, and I think they’re the right people to carry this idea forward. Being able to donate PunkStrategy to them means a lot to me. With this transfer, TokenWorks’ share of trading fees will now go to NODE, giving them a new revenue stream to support artists, exhibitions, and more. We think this is the best home for the project. PunkStrategy runs autonomously and is designed to keep running for as long as Ethereum does.”
While NODE is now the owner of the PunkStrategy contract, that doesn't mean the nonprofit can do whatever it wants with the protocol.
PunkStrategy will continue operating autonomously, with the contract's owner limited to three functions 1. adjusting the trading fee between 1% and 10%, 2. setting the relisting multiplier for newly purchased Punks between 1.1x and 10x, and 3. claiming the owner's share of trading fees And NODE is already putting its new stewardship role to work!
Following the transfer, the nonprofit announced that it had lowered PunkStrategy's trading fee from 10% to 5%, making it cheaper to trade the token than ever!
“Lowering the trading fee gives more people an opportunity to encounter that design through participation,” the Node Foundation explained. “Software can be read and studied, but interacting with a live protocol offers another way to understand how its rules work in practice. CryptoPunks has inspired a culture of people making participatory rules-based systems on the blockchain. We see this donation as an opportunity to support that culture and the continued exploration of blockchains as a creative medium."
Tonight, PunkStrategy's PNKSTR token is up nearly 27% on the day, with a market cap of $11.7 million USD, and the protocol currently holds 37 CryptoPunks.
For more information on Punk Strategy or to check out the protocol, visit its website here: https://www.punkstrategy.fun/app#holdings
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