05 Apr 2025

light mode

What is a Bonfire Token?

Bonfire is a token launched through the Binance Smart Chain blockchain in 2021. It is a community owned token which will give holders passive income for holding the Bonfire Token.

The asset has a speculative tokenomic model, as every transaction made with Bonfire Token has a 10% fee: 5% is distributed among all holders and another 5% is distributed to the Bonfire Token Liquidity Pool to provide additional security for token holders.

​​The max total supply is one quadrillion Bonfire tokens (1000 trillion). Approximately 41.57% of the tokens were burned and are out of circulation. The two largest holders are the burn wallet address, as well as the wallet of the PancakeSwap exchange where Bonfire is traded. The next largest holder is a private wallet address, which holds 4.7% of the tokens.

Project’s website says that in the future Bonfire should be used to secure its wrapped tokens in the virtual world of the same name. BonCash is the official wrapped Bonfire Token. It will be the main accepted currency in the Bonfire World economy and will get many usecases.

At this stage, the project does not offer anything else except a service called the Bonfire Name NFT, which is the ownership of your Web3 identity in the Bonfire World. Therefore, the utility of the token remains uncertain. 

Bonfire provides nothing substantially new and relevant. It resembles one of those useless assets that flooded the crypto market. The 10% transaction fee, which is redistributed between the holders, has already been applied by many dubious projects. 

The description of Bonfire as a secure and profitable token can be applied to many other cryptocurrencies. However, a number of attracted investors believed the token could become the next SHIBA. 

However, since its launch, the token has crashed to new lows, and the maximum price was $0.000045. Considering all the above, there are no high returns to be expected from investing in such an asset. 

The content on The Coinomist is for informational purposes only and should not be interpreted as financial advice. While we strive to provide accurate and up-to-date information, we do not guarantee the accuracy, completeness, or reliability of any content. Neither we accept liability for any errors or omissions in the information provided or for any financial losses incurred as a result of relying on this information. Actions based on this content are at your own risk. Always do your own research and consult a professional. See our Terms, Privacy Policy, and Disclaimers for more details.

Articles by this author
Bitget Secures Digital Asset Service Provider License from El Salvador

Bitget Secures Digital Asset Service Provider License from El Salvador

Crypto exchange Bitget has received the Digital Asset Service Provider (DASP) license from El Salvador, allowing the platform to expand its crypto offerings in the country.

Anahit Avetisyan
Free ChatGPT Plus Now Available for College Students in North America

Free ChatGPT Plus Now Available for College Students in North America

OpenAI has announced free access to ChatGPT Plus for college and university students in the United States and Canada until May 2025.

Vlad Vovk
BTC Faces Resistance at $85K as Trade War Pressure Mounts

BTC Faces Resistance at $85K as Trade War Pressure Mounts

Bitcoin remains pinned under $85,000, as global markets digest rising tensions between the U.S. and China over fresh tariffs.

Anton Kryshtal
BTC’s Wild Ride Isn’t Over: Fed’s Move Up Next

BTC’s Wild Ride Isn’t Over: Fed’s Move Up Next

Recent tariff implementations by President Trump, met with China’s retaliatory measures, have introduced significant volatility into the cryptocurrency market. Investors are now keenly awaiting employment statistics and the Federal Reserve’s forthcoming decisions on interest rates.

Dmytro Psevdonimenko
Hot Crypto Discussions on X Today: Market Volatility, Crypto ETFs, & More

Hot Crypto Discussions on X Today: Market Volatility, Crypto ETFs, & More

Today, the crypto community is discussing market volatility, regulations, and the future of crypto ETFs, among other topics on X/Twitter.

Anahit Avetisyan
The Man Who Forgot $240M: A Bitcoin Tragedy for the Ages

The Man Who Forgot $240M: A Bitcoin Tragedy for the Ages

This is perhaps the most iconic crypto loss story of all time. In 2011, Stefan Thomas received 7,002 BTC for making a video. Today, that stash is worth $240 million. But he forgot the password. An entire fortune locked away forever.

Elina Moskovchuk
Sam Altman, ChatGPT, and the AI Spark That Lit Up Crypto

Sam Altman, ChatGPT, and the AI Spark That Lit Up Crypto

At the end of 2022, a public beta of an AI-powered product quietly launched. It looked like nothing more than a simple chat window. However, it turned out to be a global sensation.

Elina Moskovchuk
Fiat Money vs Commodity Money: What’s the Difference?

Fiat Money vs Commodity Money: What’s the Difference?

Explore the key differences between fiat money and commodity money. Learn about their intrinsic value, historical context, advantages, disadvantages, and real-world examples.

The Coinomist
Blockchain Trilemma: Explained with Real-World Examples

Blockchain Trilemma: Explained with Real-World Examples

In recent years, blockchain technology has gained immense popularity, being the backbone of cryptocurrencies, decentralized finance (DeFi), and various other applications. However, as the technology continues to evolve, a crucial problem has surfaced: the blockchain trilemma.

The Coinomist
How Is a Cryptocurrency Exchange Different from a Cryptocurrency Wallet?

How Is a Cryptocurrency Exchange Different from a Cryptocurrency Wallet?

A guide detailing the differences between cryptocurrency exchanges and wallets. Learn about their distinct roles, security features, liquidity, and user control in the digital asset ecosystem.

The Coinomist
What Are Assets? Differences Between Coins and Tokens

What Are Assets? Differences Between Coins and Tokens

Discover the meaning of assets in finance and crypto, and learn the key differences between coins and tokens to make informed investment decisions.

The Coinomist
What Is a Margin Call? An Essential Guide

What Is a Margin Call? An Essential Guide

A comprehensive guide to understanding margin calls in trading. Learn what triggers them, how they work, their risks, and strategies to manage or avoid them

The Coinomist
What Happens When Bitcoin Runs Out? Predictions and Strategies

What Happens When Bitcoin Runs Out? Predictions and Strategies

Explore what happens when Bitcoin reaches its 21 million supply cap. Learn how the shift from block rewards to transaction fees could impact miners, investors, and the entire ecosystem.

The Coinomist
Arthur Hayes Challenges Fed Independence in His New Essay “The BBC”

Arthur Hayes Challenges Fed Independence in His New Essay “The BBC”

In his latest essay “The BBC,” Arthur Hayes examines the emotional pressures on the Federal Reserve and the monetary policy challenges that could lead to increased liquidity in the crypto market.

Dmytro Psevdonimenko
Trump’s “US Crypto Reserve” Plan: A Game Changer or Just Talk?

Trump’s “US Crypto Reserve” Plan: A Game Changer or Just Talk?

It takes just one post from Trump to stir the crypto market. Recently, he announced on Truth Social that the evaluation of a strategic crypto reserve is in progress as part of his broader Trump crypto policy.

Anahit Avetisyan
MORE
Living Crypto in Vienna: Where to Spend, Stake, and Socialize

Living Crypto in Vienna: Where to Spend, Stake, and Socialize

Vienna has always been classy—but now it’s crypto-savvy too. Whether you’re spending Bitcoin on your morning coffee or mingling with Web3 insiders, crypto Vienna has you covered.

Yara Zornell
Where to Spend Your Crypto Daily in Dubai: From Food to Fashion

Where to Spend Your Crypto Daily in Dubai: From Food to Fashion

Living for cryptocurrency in Dubai has become a real experience by 2025. Discover how to use your digital assets for food, shopping, and daily essentials in this futuristic crypto city.

Yara Zornell
MORE