Nasdaq-listed Security Shot (SHOT) has taken a ten% income stake in Bonk.enjoyable, among the many largest memecoin launchpads on Solana. As a part of a deal, Security Shot will obtain $25 million price of BONK (BONK) for its treasury, aligning the general public firm immediately with the platform’s progress.
Bonk.enjoyable generated over $35 million in consumer charges in July, eclipsing rival Pump.enjoyable to grow to be the month’s highest-earning memecoin launchpad, in keeping with DeFiLlama.
The platform controls greater than 80% of Solana’s day by day new token launch market share, with peak days seeing over 20,000 tokens deployed and day by day volumes topping $100 million.
As a part of the transaction, Security Shot will challenge most well-liked shares convertible into widespread inventory and reinvest about 90% of its BONK.enjoyable income into BONK token purchases. The corporate has cleared its debt and holds greater than $15 million in money.
BONK — the fourth-largest memecoin, with a $2 billion market cap and 980,000 on-chain holders, in keeping with SolScan — is built-in into over 400 Solana purposes, spanning DeFi, gaming, and shopper merchandise.
Bonk.enjoyable persistently ranks among the many prime 10 decentralized purposes globally by way of income.
CEO Jarrett Boon mentioned the mixing is “not merely shopping for a cryptocurrency” however buying a stake in “a extremely worthwhile engine” inside digital property.
The transfer marks a shift from the standard company technique of merely holding crypto on steadiness sheets towards taking equity-like publicity in a revenue-generating asset. For Security Shot, it provides a recurring revenue stream tied to the BONK ecosystem’s exercise and worth efficiency.
