The lake is named after Quonopohit,[3] the Naumkeag Native American man who signed a deed to the town that would become Wakefield in 1686.

Large amounts of tar were found in the lake in 1999, a by-product of gas manufacturing from coal.

As of 2016[update], two former beaches remain closed to swimming, due to the presence of arsenic, which was introduced into the lake in the early 1960s to handle aquatic weeds.

[6] Swimming in the lake is still discouraged as of April 2024[update], especially during algae blooms in the summer months.

Located nearby the lake shore within the common is a gazebo locally called "the Bandstand."