What Is Bonk (BONK)?

BONK is Solana’s playful answer to Dogecoin and Shiba Inu, gaining attention as “the people’s dog coin.” Its charm? BONK offers a unique, community-driven spin on meme coins, embodying the highs and lows of crypto with a Solana-powered twist.

BONK, launched on December 25, 2022, is Solana’s first dog-themed coin “for the people, by the people,” with half of its total supply airdropped to the Solana community. Similar to Shiba Inu and Dogecoin, BONK sparked genuine interest, boosting SOL’s price by 34% within 48 hours. Trading kicked off on December 30, 2022.

The team’s main goal is to restore liquidity to Solana-based DEXs by creating a true community coin for use across Solana dApps. Their vision: an inclusive ecosystem where every user gets a fair shot at participation.

BONK was randomly airdropped to Solana NFT collectors, developers, and artists, though further airdrop details remain unclear. So far, its online presence is minimal, aside from an active X/Twitter account.

Who Are the Founders of Bonk?

As of October 2024, BONK’s team remains anonymous but its creation is credited to a core team of 20 Solana developers and builders — there is now a whitepaper called BONK Paper available.

What Makes Bonk (BONK) Unique?

Half of BONK’s total supply (50 trillion coins) was airdropped to Solana contributors, sparking around $20 million in trading volume on the Orca DEX. Since its December 30, 2022 listing on major exchanges, BONK surged over 2,000% in a week, making it 2023’s top-performing crypto asset by return percentages.

BONK now has over over 770K holders, 135 integrations and is available across 11 chains.

How Many Bonk (BONK) Coins Are There in Circulation?

Following the team’s strategy, 50% of BONK’s nearly 100 trillion coin supply was airdropped to Solana users, including artists, creators, and active community members. The distribution breakdown is as follows:

• 5% to Team Development;

• 5% to Marketing;

• 5% to Initial Liquidity;

• 15% to the Bonk DAO;

• 20% to Early contributors;

• 20% to 40 Solana NFT collections (297K individual NFTs);

• 15% to Early OpenBook traders;

• 10% to Solana collectors and artists;

• 5% to Solana developers.

As of October 2024, there are approximately 74.19 trillion tokens in circulation, and the price sits at $0.000021.

How Is the Bonk Network Secured?

BONK, built on Solana, leverages a unique blend of Proof-of-History (PoH) and Proof-of-Stake (PoS) consensus for enhanced throughput and scalability. Solana, a high-performance Layer 1 blockchain, is among the fastest networks, with 200 nodes capable of handling up to 50,000 transactions per second (TPS).

Am I BONKers To Invest?

We don’t offer investment advice, but it’s essential to note that investing in BONK is speculative and extremely high-risk. As per the chart above, to say that BONK is volatile would be an understatement. You could lose all your capital, so only invest what you can afford to lose.

What Lies Ahead for BONK?

Like any meme coin, BONK’s future depends on a strong community. Social media buzz, meme culture, and viral trends are key to its momentum. BONK saw a 2,000% surge in early 2023, but it also experiences the usual volatility of meme coins.

To help stabilize prices, BONK developers burned 5 trillion tokens to reduce supply. The project is also expanding its presence within the Solana ecosystem, now integrated into over 350 projects.

While BONK’s future is uncertain, its community focus and strong support on Solana provide a solid base for ongoing growth. Like other meme coins, BONK’s success will hinge on staying relevant and engaging users as the crypto landscape evolves.

Where Can You Buy Bonk (BONK)?

BONK can be purchased via centralized exchanges and then sent to your self-custody Unity Wallet address for true ownership and security.

DISCLAIMER: Cryptocurrencies are high-risk investments—be prepared to lose all invested funds. This blog post provides information only and doesn't offer financial advice. Unity doesn't make investment recommendations. Always remember: your capital is at risk when investing in cryptocurrencies.