The leading holder of the popular meme token BONK, called BONK DAO, plans to supply $500,000 to an early-stage Solana startup fund – marking the decentralized group’s first startup investment.
BONK DAO, a 12-member council managing over $124 million in assets, will back the venture fund organized by Solana accelerator Colosseum. Colosseum founders were “fairly surprised” by the DAO’s sudden venture ambitions.
As BONK continues evolving from its jokey origins at Solana’s 2022 crisis point into a serious crypto business, backing critical ecosystem builders cements lasting impact beyond fleeting hype.
The meme coin whale boasts unmatched influence with its 12% BONK holdings after creators allocated tokens to the DAO for community governance. Votes funding everything from hackathons to DeFi pools have passed quickly.
By nurturing the next generation of talent with equity investments, BONK inserts itself at the centre of Solana’s revival narrative following FTX’s deterioration. As the chain court developers, BONK DAO plays venture philanthropy.
