BonkDAO has burned 100 billion BONK tokens as part of its ongoing efforts to reduce the circulating supply and create scarcity, potentially boosting the token's value. This burn is part of a larger plan to destroy 1 trillion BONK tokens by Christmas, driven by community votes and a focus on increasing the token's market appeal.
The burns are facilitated through mechanisms like BONKbot, a trading tool on Solana that repurchases and destroys tokens using transaction fees. To date, BONKbot has contributed significantly to the burn process. These actions align with BonkDAO's broader strategy, which includes considering quarterly burns based on treasury revenue to sustain token value in the long term.
If you're interested in BONK's future potential, keeping an eye on these developments could be worthwhile as the burns progress.
