Inside Bonk Inu: How 22 Developers Put Shiba Inu Fun Onto Solana and Away From FTX
Confused, fed up, and tired: Solana's popularity took a hit when reports of possible fraud at Sam Bankman-Fried's giant crypto exchange, FTX, first came to light. But the developers found a way to start the activity.
In recent weeks, Shiba inu-themed tokens have taken center stage in the Solana ecosystem as sentiment around the blockchain network took a hit following the Sam Bankman-Fried and FTX debacle.
Called Bonk inu (BONK), the project with a cute dog holding a bat as its mascot, launched with just a homepage and “bonkpaper” in the last weeks of 2022
Bonk Inu became the talk of Crypto Twitter almost overnight with almost everyone wondering the same thing, “What the heck is Bonk?”
Bonk Inu is a team of 22 individuals without a single leader, all involved in the inception of the project, All of whom have previously built decentralized applications (DeFi), non-fungible tokens (NFT) and other related products on Solana
There is no core team. It’s all volunteers,” said KW, a pseudonymous member of the Bonk Inu team, “We have all been in the Solana ecosystem for a long time and built relationships over the last two years.”
The crazy airdrop – of 50% of its token supply – likely drove huge community interest and instant hype. About 20% of the total airdrop supply went to the Solana NFT collection – which consists of 297,000 individual NFTs – and 10% to Solana-focused artists and collectors. Airdrops refer to the unsolicited distribution of cryptocurrency tokens or coins, usually free, to various wallet addresses and are generally used as a tactic to acquire users.
