BONK DAO Executes $50 Million Token Burn: 1.8% of Total Supply Reduced

Solana-based news platform SolanaFloor reported that the platform's native token, BONK, has undergone a significant burn of $50 million worth of tokens, representing 1.8% of its total supply. The burn was executed following a community vote by the BONK DAO. The BONK DAO had previously signaled its intent to pursue a burn via a multi-sig vote. The burn has been met with positive feedback from the community, with many users expressing their support for the move. It is believed that the burn will have a positive impact on the long-term value of the token.