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$BONK Update

· 2 min read

As per the original announcement, we have been hosting a discussion on this topic in #bonk, and we had a wide range of opinions around both the proposed plan and how to best execute it.

We would like to give a big thanks to everyone, including the BONK community, users, and the BONK core contributors for coming together to discuss this very tricky situation, and especially for everyone’s understanding of this dilemma we found ourselves in.

After a week of intense debate, 3 things became pretty clear:

  1. Views are very divided, one of which is the perspective of burning everything or not retrieving the tokens at all, since it was already misplaced, with the other one to distribute them 100% immediately. It is clear that compromise will be needed.
  2. ​​It was important for us to ensure that the tokens would be distributed where it was intended while also reaching an agreement that would be acceptable to the BONK core contributors and community to avoid a holy war, which would have benefitted no one.
  3. Lastly, it became clear from the discussion that we cannot take custodianship of this at any cost, so the best thing to do would be to allow the core contributors to claim the tokens, with the understanding that the tokens will be distributed accordingly

We believe that a good course of action will be to proceed with the Jupiter program upgrade to allow the BONK core contributors to claim the tokens and facilitate the staggered distribution as per the original plan. This obviously requires tradeoffs from all sides, but this was a reasonable outcome for the majority of folks in the channel.

Lastly, we are extremely gratified by the chance to be of service to our users, as well as the opportunity to interact with the bonk contributors and community to work through this together. Great times lie ahead for the ecosystem. Let's grow it to new heights together!