Nasdaq-listed Safety Shot will launch a BONK treasury strategy by integrating $25 million in BONK tokens, following earlier memecoin treasury moves last month from Bit Origin and Everything Blockchain.
Summary
- Nasdaq-traded Safety Shot will issue $35 million in convertible preferred shares for BONK tokens.
- BONK chosen for its fast, low-cost Solana blockchain and deflationary “burn” mechanism.
- The memecoin treasury trend is gaining momentum, as highlighted by Bit Origin’s $500 million DOGE acquisition plan and Everything Blockchain’s MemeStrategy spin-off managing multiple meme tokens.
Nasdaq-listed Safety Shot, maker of the patented Safety Shot beverage that rapidly reduces blood alcohol content, has formed a strategic alliance with the founding contributors of Bonk (BONK) memecoin, securing an initial $25 million in BONK tokens to launch a BONK treasury strategy.
The company, which recently cleared all outstanding debt and holds more than $15 million in cash, will issue $35 million in Preferred Shares convertible into common stock in exchange for the tokens.
Safety Shot cited BONK’s technical advantages on the Solana (SOL) blockchain — notably high-speed and low-cost transactions — as key reasons for selecting it over Ethereum-based competitors like Shiba Inu (SHIB) and Pepe (PEPE), or inflationary options like Dogecoin (DOGE). Additionally, they cited BONK’s “burn” mechanism, which removes tokens from circulation, aiming to increase its scarcity and long-term value.
“This strategic partnership represents the first stage of a much broader corporate evolution for our company,” said Safety Shot CEO Jarrett Boon.
The dawn of memecoin treasuries?
Safety Shot’s move to create a BONK treasury strategy mirrors a growing trend of public companies experimenting with memecoin-focused treasuries, a concept once confined to community-driven DAOs. In recent months, corporate announcements in this space have accelerated.
In late July, Nasdaq-traded Bit Origin revealed plans for a $500 million DOGE treasury, positioning itself as the “MicroStrategy of DOGE.” Prior to that, Everything Blockchain Inc. announced MemeStrategy, a spin-off designed to hold and manage a portfolio of memecoins, including PEPE, BONK, and SPX6900.
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