Bonk, Inc. has drawn attention following an independent report from Harbinger Research, which describes the company as the “premier public vehicle” for investors seeking exposure to the $BONK crypto ecosystem. The report recognizes Bonk, Inc.’s transformation into a revenue-generating public entity directly connected to Solana’s expanding blockchain network. According to Harbinger’s findings, the company’s strategy […]Bonk, Inc. has drawn attention following an independent report from Harbinger Research, which describes the company as the “premier public vehicle” for investors seeking exposure to the $BONK crypto ecosystem. The report recognizes Bonk, Inc.’s transformation into a revenue-generating public entity directly connected to Solana’s expanding blockchain network. According to Harbinger’s findings, the company’s strategy […]

Harbinger Report Backs Bonk, Inc. as Leading Nasdaq Gateway to Solana’s $BONK Ecosystem

2025/11/03 04:00
Bonk
  • Harbinger Research identifies Bonk, Inc. as the leading public-market entry to the $BONK ecosystem on Solana.
  • The report highlights Solana’s $3 billion annual revenue and its rapid rise as a key blockchain rivaling Ethereum.
  • Bonk, Inc.’s dual model links token scarcity with shareholder value through a community-driven, deflationary framework.

Bonk, Inc. has drawn attention following an independent report from Harbinger Research, which describes the company as the “premier public vehicle” for investors seeking exposure to the $BONK crypto ecosystem. The report recognizes Bonk, Inc.’s transformation into a revenue-generating public entity directly connected to Solana’s expanding blockchain network.

According to Harbinger’s findings, the company’s strategy uniquely positions it within a growing segment of the market that merges community-driven digital assets with regulated financial exposure. The company holds a treasury of the token, operating as a bridge between retail crypto engagement and traditional market access through Nasdaq.

The report emphasizes that this model could serve as a critical step for regulated investors wanting to participate in the fast-evolving meme coin sector without direct exposure to unregulated crypto markets.

Solana’s Rebound Strengthens Bonk’s Market Standing

Harbinger’s work heavily emphasizes the impressive revival of Solana. Solana’s viability had been in question following the FTX crisis, but the project has managed to bounce back, with the network raking in almost $3 billion in revenue in the past year.

The report emphasizes Solana’s potential to become a $1 trillion digital asset, as predicted by The Motley Fool, in explaining Solana’s important role in decentralized finance, leading even Ethereum.

This has contributed significantly to the narrative surrounding the company and its related token. The token was first introduced with the stated intent of restoring Solana’s community. However, it has grown to be one of the dominant factors in Solana’s consumer ecosystem.

According to the report by Harbinger, the growing function of the token in Solana’s ecosystem provides economic value to the company model. The structure of the company incorporates both deflationary treasury assets and operational revenue streams, keeping in line with the continuous growth of Solana.

Building a Self-Sustaining Model for Shareholders

The report from Harbinger describes in depth how Bonk, Inc. could capitalize on the momentum of the overall ecosystem. Analysts from the company forecast significant revenue growth in the near term with contributions from community platforms such as lets BONK.fun.

Moreover, according to the research, the economic feedback loop created by Bonk, Inc.’s reinvestment strategy, which involves accumulating and subsequently burning the tokens, helps in building more usage in the ecosystem, ensuring scarcity increases, potentially offering long-term value to both tokenholders and shareholders alike.

Bonk, Inc. is now emerging as a notable entrant on the Nasdaq, offering investors an organized way to leverage the Solana ecosystem, which is worth multi-billion dollars. With the recognition from Harbinger, the company will soon find solid ground between the development of the blockchain and conventional finance.

Also Read: Solana ETF Momentum Drives SOL Toward Potential $300 Breakout

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Preliminary analysis of the Balancer V2 attack, which resulted in a loss of $120 million.

Preliminary analysis of the Balancer V2 attack, which resulted in a loss of $120 million.

On November 3, the Balancer V2 protocol and its fork projects were attacked on multiple chains, resulting in a serious loss of more than $120 million. BlockSec issued an early warning at the first opportunity [1] and gave a preliminary analysis conclusion [2]. This was a highly complex attack. Our preliminary analysis showed that the root cause was that the attacker manipulated the invariant, thereby distorting the calculation of the price of BPT (Balancer Pool Token) -- that is, the LP token of Balancer Pool -- so that it could profit in a stable pool through a batchSwap operation. Background Information 1. Scaling and Rounding To standardize the decimal places of different tokens, the Balancer contract will: upscale: Upscales the balance and amount to a uniform internal precision before performing the calculation; downscale: Reduces the result to its original precision and performs directional rounding (e.g., inputs are usually rounded up to ensure the pool is not under-filled; output paths are often truncated downwards). Conclusion: Within the same transaction, the asymmetrical rounding direction used in different stages can lead to a systematic slight deviation when executed repeatedly in very small steps. 2. Prices of D and BPT The Balancer V2 protocol’s Composable Stable Pool[3] and the fork protocol were affected by this attack. Stable Pool is used for assets that are expected to maintain a close 1:1 exchange ratio (or be exchanged at a known exchange rate), allowing large exchanges without causing significant price shocks, thereby greatly improving the efficiency of capital utilization between similar or related assets. The pool uses the Stable Math (a Curve-based StableSwap model), where the invariant D represents the pool's "virtual total value". The approximate price of BPT (Pool's LP Token) is: The formula above shows that if D is made smaller on paper (even if no funds are actually withdrawn), the price of BPT will be cheaper. BTP represents the pool share and is used to calculate how many pool reserves can be obtained when withdrawing liquidity. Therefore, if an attacker can obtain more BPT, they can profit when withdrawing liquidity. Attack Analysis Taking an attack transaction on Arbitrum as an example, the batchSwap operation can be divided into three stages: Phase 1: The attacker redeems BPT for the underlying asset to precisely adjust the balance of one of the tokens (cbETH) to a critical point (amount = 9) for rounding. This step sets the stage for the precision loss in the next phase. Phase Two: The attacker uses a carefully crafted quantity (= 8) to swap between another underlying asset (wstETH) and cbETH. Due to rounding down when scaling the token quantity, the calculated Δx is slightly smaller (from 8.918 to 8), causing Δy to be underestimated and the invariant D (derived from Curve's StableSwap model) to be smaller. Since BPT price = D / totalSupply, the BPT price is artificially suppressed. Phase 3: The attackers reverse-swap the underlying assets back to BPT, restoring the balance within the pool while profiting from the depressed price of BPT—acquiring more BPT tokens. Finally, the attacker used another profitable transaction to withdraw liquidity, thereby using the extra BPT to acquire other underlying assets (cbETH and wstETH) in the Pool and thus profit. Attacking the transaction: https://app.blocksec.com/explorer/tx/arbitrum/0x7da32ebc615d0f29a24cacf9d18254bea3a2c730084c690ee40238b1d8b55773 Profitable trades: https://app.blocksec.com/explorer/tx/arbitrum/0x4e5be713d986bcf4afb2ba7362525622acf9c95310bd77cd5911e7ef12d871a9 Reference: [1]https://x.com/Phalcon_xyz/status/1985262010347696312 [2]https://x.com/Phalcon_xyz/status/1985302779263643915 [3]https://docs-v2.balancer.fi/concepts/pools/composable-stable.html
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PANews2025/11/04 14:00