Straight up, if I was a random Solana coin person and I looked at the Bonfire project, I would see a lot of red flags. I’ll address what I think the red flags are, why they exist, and what the reasoning is behind them.
So the first red flag when looking at the token overall is that at the time of launch, the dev controls 27% of the initial overall token supply. Holy shit. That’s a big one. Yeah, I know. Here’s the deal… I reserve 2% to control for myself. Only half of that (1%) is for me to take profits. The 25% of the initial token supply that is in the Bonfire Allocation Wallet is essential to the project. The price I paid to purchase it I consider a marketing investment. All this coin will be burned in a short period of time as outlined in the highly detailed whitepaper on the website. It pretty much comes down to will people trust me. The short answer is no. However, people out here in the wild west of Solana meme coin trading are currently throwing money in to absolute bullshit, knowing full well that it’s absolute bullshit, just hoping to get in and out before the bullshit happens. I hope those people can come to the website, and see the amount of time and effort I’ve put in to all this. I hope they are willing to take the gamble based off just that. The big factor is though, that no matter what people initially think of the 25% held in the Bonfire Allocation Wallet, that will all have been burned within days after Raydium bonding, sticking to the strict burn schedule tokenomics outlined in the whitepaper. So after that happens, there is no reason not to trust the project as all the holding will have been burned and the whitepaper guidelines have been adhered to.
“The dev doesn’t show his face!” Yeah. Deal with it. I’m not a social media content creator. I’m not trying to be an influencer of any sort. I’m not comfortable on camera. I’m the guy that’s responsible for the backend, behind the scenes management. I will strive to build a brand of trust with Bonfire that will speak for itself.
“Everything on Pump.fun is a scam. How is this any different?” Well… It’s an actual project. A real thing. That should be apparent from the website. There is real effort here that I hope people see. It is being launched on Pump.fun for a few reasons. The primary factor though is the budget. I’m in to this project for a few thousand dollars. A big chunk on that is marketing. Somewhere around $1500 USD will cover the initial 27% Pump.fun token purchase. This is the most bang for the buck when it comes to a proper token launch liquidity entry. If I were to not use Pump.fun, I would need to invest at least double the USD to give it some kind of proper liquidity to start. I can afford any more, as I’m already in probably 5 grand to the project overall. I played with the overall tokenomics and liquidity startup options, and the best result is what I went with. Also, it’s worth noting that Pump.fun will provide initial exposure for the token. I think I can market as “An actual project in an otherwise “sea of bullshit.” I’m hoping that will be a big appeal for the Pump.fun crowd, which will get them to the website and maybe see the value of the platform and such, building our initial foundation of highspeed shitcoin traders.
“This is just a shitcoin. There’s no utility it’s just a scam.” Yes it is a shitcoin. No, there is not any utility. It’s not a scam though. It’s a marketing project. The idea is to create a community forum platform and a token. The initial token people will provide an initial small population for the forum. Then I’ll market the forum. Outside people will come to a space for quality content. We will provide that quality content with the community forums. The $BON token, being the native token of the project, will have constant exposure with the community forums and will also have positive community feedback and support due to its tokenomics being adhered to. This is prime marketing for the token, and prime opportunity to grow a platform that is known for providing quality content.