Safety Shot Embraces Memecoin Strategy with BONK on Solana
safety Shot,a Nasdaq-listed company known for its innovative beverage,is set to dive into the memecoin world. The firm plans to establish a BONK treasury strategy by investing $25 million in BONK tokens.
This move follows similar initiatives by other companies like Bit Origin and Everything Blockchain. Bit Origin intends to acquire $500 million worth of DOGE, calling itself the “MicroStrategy of DOGE.” Meanwhile, Everything Blockchain spun off MemeStrategy, which handles various meme tokens.
Safety Shot will issue $35 million in convertible preferred shares to secure the BONK tokens. According to CEO Jarrett Boon, this partnership marks the beginning of Safety Shot’s corporate transformation.
BONK runs on Solana, which offers fast and cost-effective transactions. Safety Shot prefers BONK over Ethereum-based options as of its deflationary “burn” mechanism. This feature gradually removes tokens from circulation,potentially boosting long-term value.
The memecoin treasury trend shows no signs of slowing down. Safety Shot’s strategy could signal a new era where traditional businesses adopt crypto assets typically associated with decentralized communities.
- BONK operates on the low-cost Solana blockchain.
- Safety Shot launches a $25 million BONK treasury plan.
- This move reflects growing corporate interest in memecoins.
