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1.
To masturbate; bust a nut. Energize one selfs penis for sexual pleasure.

Origin: From the english slang word, Wank and the Gujarati tānkũ meaning "underground cistern.

Phrase Coined by the BBCF in early 21st Century. Experts guess around September of 2011.
Alex: Hey guys you want to go to the party tonight and Frank's house?

Jesse: Yeah that sounds sweet

Billy: I can't go. I have to furiously "wank the tank" to some new Kate Upton nude pics.

Jesse: Oh that's right, I can't make it either.
by The Voluptuous Lion October 30, 2011