Bonk DAO Proposes to Launch Memecoin on Major European Fintech

The goal of the proposed initiative is to onboard 500,000 new users.

By: Pedro Solimano Loading...

Bonk DAO Proposes to Launch Memecoin on Major European Fintech

The decentralized autonomous organization behind the Solana-based memecoin, Bonk, has unveiled a proposal to launch the token on one of Europe’s largest fintech platforms.

Along with offering trading, the proposal aims to onboard 500,000 new BONK users through a Learn and Earn campaign.

According to the proposal, the fintech – which some are speculating could be Revolut – operates with a banking license in over 50 European countries and has more than 38 million customers.

Revolut did not immediately respond to a request for comment from The Defiant.

With four days left to vote on the proposal and two more yes votes required for approval, launching on one of Europe’s main fintechs is yet another sign of broader acceptance by traditional financial institutions – even though Revolut is considered to be a neobank.

And with the Bonk DAO holding more than $158 million worth of tokens, Revolut traders might be in for an airdrop surprise.

The proposal envisions two waves of adoption: the token launch with organic growth for one to two months, and the Learn and Earn campaign. Details about the L&E campaign have not been revealed yet.

Ranking 100 on Coingecko, BONK is up 8% today amid a broader market rally but remains down 60% from its all-time high two months ago.

BONK Price chart
BONK Price

BONK made headlines in December 2023 as the Solana memecoin frenzy took hold.

Its meteoric rise saw the token surge 19,000% in six weeks, putting it in the history books on Coinbase, when the dog-themed token enjoyed $238 million in trading volume in the first 24 hours, making it the exchange’s 12th largest debut.