Ponds signed a two-way contract with the Raptors on Monday, Blake Murphy of The Athletic reports.
The Rockets waived Ponds on Saturday, but he'll now slot into Toronto's second two-way slot on the 15-man roster. He figures to see plenty of action in the G League with Raptors 905 this season.
Ponds was waived by the Rockets on Saturday, Alykhan Bijani of The Athletic reports.
Ponds had his contract converted into a two-way deal in early September, but he was unable to earn one of the two two-way spots on the season-opening roster. He scored seven points in three preseason games and is a prime candidate to play with the Rio Grande Valley Vipers in the G League.