Bonk DAO Burns 1.69 Trillion Tokens to Decrease Supply

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 Cache Room

Resource Cache

Tier I

Requires 25% Tier Progress to Claim

Meme Cache

Tier I

Requires 50% Tier Progress to Claim

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

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

Tier I

Sector: #18291

25%

50%

75%

100%

Tier II

Survivors rescued:

0 / 600

Survivors

0/0

Transmit Signal

Broadcast this sector's coordinates to other rescuers.

Other news

Surge in AI-Generated Vulnerabilities Threatens Bitcoin Security

The Bitcoin Red Team reports a surge in AI-assisted vulnerability findings across Bitcoin projects, highlighting the urgency of addressing security flaws.

Tando Nkube2 hours ago

Core Lightning Developers Issue Urgent Warning on Vulnerabilities

Core Lightning developers issue critical warning to node operators about vulnerabilities in AI-generated security reports, urging prompt updates or offline operation to secure payment channels.