Safety Shot Acquires 10% Stake in Bonk.fun for $25 Million
Safety Shot (SHOT), listed on Nasdaq, has acquired a 10% revenue stake in Bonk.fun, a major memecoin launchpad on Solana. The deal includes receiving $25 million worth of BONK for its treasury, facilitating alignment with the platform's growth.
- Bonk.fun generated over $35 million in user fees in July, surpassing Pump.fun as the top memecoin launchpad for that month.
- The platform holds more than 80% of Solana’s daily new token launch market share, with peak days showing over 20,000 tokens launched and daily volumes exceeding $100 million.
- Safety Shot will issue preferred shares convertible into common stock and reinvest approximately 90% of its Bonk.fun revenue into BONK purchases.
- The company is debt-free and maintains over $15 million in cash.
- BONK, the fourth-largest memecoin, has a market cap of $2 billion and about 980,000 on-chain holders.
- Bonk.fun ranks among the top 10 decentralized applications globally by revenue.
CEO Jarrett Boon emphasized that this integration represents acquiring a stake in a profitable digital asset rather than merely purchasing cryptocurrency. This strategy shifts Safety Shot towards equity-like exposure in a revenue-generating asset, providing a recurring income stream linked to the BONK ecosystem's activity and performance.