Solana memecoin BONK spikes 7% after proposed ‘learn’ deal with Revolut

Solana-based memecoin Bonk’s (BONK) spiked 7% shortly after news broke that the Solana-based memecoin could soon be listed on Revolut’s trading platform.

Under a proposed partnership, the European fintech firm is set to run a Bonk “Learn and Earn Campaign,” which is aimed at increasing the memecoin’s user base by 500,000, according to a Feb. 14 note by BonkDAO, the decentralized autonomous organization behind Bonk.

Revolut currently has 38 million users and operates a banking license in more than 50 countries, BonkDAO noted, meaning that it would only need to capture 1.3% of Revolut users to reach its goal.

Revolut users will reportedly be incentivized to participate in the Learn and Earn campaign, with $1.2 million in rewards up for grabs.

BONK’s price is now at $0.000025 following the news, increasing 7.2% over the last five hours and 13.1% over 24 hours, according to CoinGecko.

BONK became one of the most talked about tokens in late 2023 when its price increased 14,000% to $0.000025. It has since fallen 60% from its all-time high but remains one of the most popular memecoins by trading volume.

The campaign still awaits official approval from BonkDAO.

At the time of publication, seven out of 12 Bonk voting members have voted in favor of the campaign, with only one more vote needed to reach an approval quorum. 

No one has voted against the campaign. The remaining five voters have four days to cast their vote.

If approved, the Learn and Earn campaign will run under two “waves.”

The first will involve BONK’s launch on Revolut with the aim of “organic growth” for the first one to two months. After that, the Learn and Earn campaign will launch.

Related: Memecoin trader briefly becomes millionaire off throwaway Elon Musk X gag

Cointelegraph reached out to members of the Bonk community for comment but did not receive an immediate response.

Meanwhile, rumors are swirling that BONK will soon be listed on Robinhood, too, but nothing has been publicly confirmed by either party. Cointelegraph reached out to Robinhood.

Babe wake up! We’re all bullposting Bonk on the Revolut news and Robinhood rumors!

My heart is so full

Best Valentines ever

— Jecy | AllDomains (@Jecy024) February 14, 2024

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