Bonk Inu (BONK) is the first dog-themed coin on Solana, launched on December 25, 2022, with 50% of the total crypto supply airdropped to the Solana community. BONK has contributed significantly to Solana by distributing nearly half of the total supply, i.e., 50 trillion coins, among those nurturing the Solana blockchain and contributing to community development in various ways. BONK has also increased trading volume and liquidity on Solana-based decentralized exchanges (DEX), becoming a payment option for NFTs in several projects built on Solana.

However, since BONK was listed on several popular crypto exchanges on December 30, 2022, the token has experienced extreme price fluctuations influenced by large-scale token sales by early investors, futures contracts allowing traders to bet against the token, and a lack of transparency from the BONK developer team. Despite the BONK developers burning all tokens allocated to their team, i.e., 5% of the total supply, on January 5, 2023, many Solana community members are dissatisfied with BONK's performance and direction.

Therefore, the community is demanding that the BONK developer conducts a buyback and burns 90% of the total supply, currently reaching 100 trillion coins. This demand is based on BONK's critical role in saving Solana, considered a heroic action deserving appreciation with a higher and more stable token value. The community argues that by reducing the circulating token amount, BONK will become rarer, more sought-after, and more valuable. Additionally, the community wants the BONK developer to be more open and transparent about their plans and vision for the future of BONK, as well as to actively engage with the Solana community. The community hopes that by meeting these demands, the BONK developer will demonstrate their commitment and responsibility to the Bonk Inu project, a coin "for the people, by the people."