Like PEPE and DOGE, BONK is a meme coin inspired by internet memes, jokes, and satire. Meme coins are not designed with a specific use case in mind, but rather as a way to express humor, creativity, and social commentary through cryptocurrency.While BONK is similar to DOGE and SHIB in that it features a cute dog as its mascot and logo, it differs from them in several ways.
1. BONK is built on Solana. Referred to as the ‘Ethereum killer’ when it launched, Solana is a fast, scalable, and low-cost blockchain platform that supports smart contracts and decentralized applications with over 400 dApps currently running on its network (Solana is also home to 2024’s other stellar performer Dogwifhat).
2. BONK was launched with a massive airdrop on December 25, 2022, as a Christmas gift to the Solana community. 50% of the total supply of 100 trillion coins was distributed to Solana users who contributed to the development and growth of the network in some way. This included artists, creators, developers, NFT collectors, and active community members. The airdrop was done randomly and anonymously, without any pre-announcement or marketing.
3. BONK’s integration with the Solana ecosystem. BONK’s whitepaper outlines its ambition to become the “community coin of Solana,” used across numerous decentralized applications. The project aims to challenge the dominance of “predatory VC tokens” by empowering the wider Solana community. This is evident in its approach to airdropping 50% of its total supply. The 1-year correlation between SOL and BONK currently sits at 0.76. The coin is accepted as a payment option for NFTs on several platforms, such as OpenBook and Orca. It is also used as an incentive for staking NFTs on platforms like SolFarm and BonkStake. Moreover, BONK is listed on several popular crypto exchanges that support Solana-based tokens, such as Coinbase, Binance and Serum.
Tokenomics of BONK
Market Position: As of March June 9th 2024, BONK is the sixth-largest meme coin by market cap (at $1,891,124,036), following DOGE, Shiba Inu, PEPE, WIF and FLOKI and the 54th largest crypto overall.
Impressive Growth: BONK has seen an extraordinary increase of over 7000% year-on-year.
Supply Details:
The coin has a maximum supply of 100 trillion, with 65 trillion in circulation as of mid-March 2024.
What makes BONK unique?
BONK has several features that make it stand out from other meme coins. One of them is its community-driven nature. The team behind BONK does not have any control over the coin’s supply or direction. Instead, they have delegated 15% of the total supply to a decentralized autonomous organization (DAO) called Bonk DAO. The Bonk DAO is responsible for making decisions regarding the future development and governance of BONK. Anyone who holds BONK tokens can participate in the Bonk DAO by voting on proposals or submitting their own ideas. The recent burn vote is good example of the Bonk community working together to increase BONK’s value.
How and Where to Buy BONK?
BONK can be purchased on centralized exchanges (CEX) like Coinbase, Crypto.com, Kraken, KuCoin, Binance, OKX and decentralized exchanges (DEX) such as Raydium, Orca, and BonkSwap. Ethereum users can also gain exposure to BONK through Wrapped BONK tokens.
Current price: $0.00001866
Ratio : 6.08%
