- Safety Shot acquired a 10% revenue stake in Bonk.fun, a leading memecoin launchpad on Solana.
- The company will receive $25 million in BONK tokens for its treasury as part of the deal.
- Bonk.fun generated over $35 million in user fees in July, surpassing its competition.
- The agreement includes Safety Shot reinvesting most of its Bonk.fun revenue into purchasing BONK tokens.
- BONK, the fourth-largest memecoin, is integrated into over 400 Solana applications and has a $2 billion market cap.
Safety Shot, a company listed on Nasdaq, has acquired a 10% share of the revenue from Bonk.fun, one of the largest platforms for launching memecoins on the Solana Blockchain. Safety Shot will add $25 million worth of BONK tokens to its treasury through this agreement.
According to DeFiLlama, Bonk.fun collected more than $35 million in user fees during July, becoming the top-earning memecoin launchpad that month. The platform now holds over 80% of the daily new token launches on Solana, with peak days reaching over 20,000 new tokens created and daily transaction volumes surpassing $100 million.
As part of the transaction, Safety Shot will issue preferred shares, which can later convert into common stock. The company will also use about 90% of the revenue earned from Bonk.fun to buy more BONK tokens. Safety Shot has cleared its debts and holds over $15 million in cash.
BONK is currently the fourth-largest memecoin, valued at around $2 billion in market capitalization, with 980,000 on-chain holders according to SolScan. The token is used in more than 400 Solana-based apps, including those in decentralized finance (DeFi), gaming, and consumer sectors.
Bonk.fun is consistently among the top 10 most profitable decentralized applications in the world. CEO Jarrett Boon stated, “The integration is not simply buying a cryptocurrency but acquiring a stake in a highly profitable engine within digital assets.” This move provides Safety Shot with recurring income from BONK ecosystem activity and price changes, shifting its approach from simply holding cryptocurrency to owning a share in a revenue-generating asset.
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