Posted 2/1/2024, 8:10:00 PM
BONK Meme Coin DAO Invests $500K in Solana Hackathon Accelerator
- The BONK meme coin started as a way to spread wealth across Solana after FTX's collapse but is now an investor in a Solana venture fund
- Bonk DAO, a council managing $124M in BONK tokens, plans to invest $500k in Colosseum, an accelerator organizing hackathons on Solana
- Colosseum recently took over responsibility for hackathons from the Solana Foundation
- BONK DAO was created at BONK's inception in 2022 when creators allocated over 15% of tokens to the DAO to manage
- This is BONK DAO's first venture capital investment, aimed at diversifying its treasury and supporting Solana builders