Bonk DAO Burns 1.69 Trillion Tokens to Decrease Supply

user avatar

by Giorgi Kostiuk

2 years ago

Bonk, one of Solana's leading meme tokens, decreased its supply by 1.69 trillion tokens following a community vote. This initiative aims to support BONK's value growth.

Bonk DAO Token Burn

Bonk DAO decreased the supply to 91 trillion from the initial 100 trillion tokens. This burn was recorded as part of the Burnmas initiative in a Solana transaction.

Based on community participation in Burnmas, the amended vote has passed and 1.69 Trillion BONK has been burnt from the @bonk_dao multisig.BONK!!!

Community Role and Future Plans

BONK aims to be community-owned, ensuring the asset remains deflationary. BONK DAO still holds 9% of the total supply, making it the largest single entity on the chain.

BONK Prices and Prospects

Despite the burn, BONK did not rally immediately but remains undervalued, expecting potential future growth. BONK has lost some leading positions to other meme tokens but maintains strong standings due to its wide audience and listings on major platforms.

The token burn highlights Bonk DAO's effort to maintain ecosystem dynamics. With this initiative, the community solidifies its stance, though future steps and market impact will remain in focus.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

HANetf and HSBC Launch First GBP EUR-Hedged Bitcoin Products

HANetf and HSBC have announced the launch of the first GBP EUR-hedged Bitcoin products, marking a significant development in the digital asset ecosystem.

user avatarLuis Flores

Goldman Sachs Integrates $100 Billion Treasury Fund with Crypto Institutional Frameworks

Goldman Sachs has announced the integration of its $100 billion Treasury Fund with crypto institutional frameworks, marking a significant development in the digital asset ecosystem.

user avatarArif Mukhtar

UK Financial Conduct Authority Opens Crypto Authorisation Regime

The UK Financial Conduct Authority has formally opened its Crypto Authorisation Regime, marking a significant development in the digital asset ecosystem.

user avatarMaria Gutierrez

Amazon Stock Price Predictions for 2027

Major firms predict Amazon stock will reach $350 per share by 2027, driven by AWS growth and AI advancements.

user avatarDavid Robinson

Tether Partners with Shiga to Launch Financial Products in Africa and Gulf

Tether is transitioning its Wallet Development Kit into financial products for users and institutions in Africa and the Gulf, collaborating with Shiga.

user avatarJacob Williams

Soneium and DayOneDream Join Forces to Tokenize Kpop Revenue Streams

Soneium partners with DayOneDream to tokenize Kpop revenue streams using blockchain technology.

user avatarAndrew Smith

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.