Article Summary, Automatically Generated By AI
About Bonk
Key Points
- 50% of total supply airdropped to Solana community
- Launched on December 25, 2022
- Trading began on December 30, 2022
- Goal: bring back liquidity to Solana-based decentralized exchanges (DEXs)
- Total supply: nearly 100 trillion coins
- Circulating supply: 56,000,000,000,000 tokens (as of January 2023)
- Secured by Solana’s Proof-of-History (PoH) and Proof-of-Stake (PoS) consensus mechanisms
- Available on multiple exchanges, including Hu
About Bonk: A Revolutionary Digital Asset
Introducing Bonk (BONK): A Revolutionary Cryptocurrency
According to the one-pager, BONK is hailed as the pioneering dog-themed cryptocurrency on Solana, proudly proclaiming itself as “for the people, by the people,” with a generous 50% of its total supply airdropped to the Solana community. Drawing parallels with popular memecoins like Shiba Inu (SHIB) and Dogecoin (DOGE), BONK made its debut on December 25, 2022, and subsequently sparked a remarkable 34% surge in the SOL token’s value within a mere 48 hours. Trading commenced on December 30, 2022, generating genuine buzz within the crypto community.
The primary objective of the team is to revitalize liquidity within Solana-based decentralized exchanges (DEXs). The developers’ vision was to craft a comprehensive community-driven coin, seamlessly integrated across all Solana-built dApps, thereby empowering each user to become an integral part of the ecosystem, where equal opportunities abound for all.
BONK was randomly airdropped to a select group of Solana NFT collectors, developers, and artists, with the remaining details of the airdrop shrouded in mystery. At present, the project maintains a minimal online presence, with the exception of an active Twitter account that serves as a beacon of activity.
The Visionaries Behind Bonk: Meet the Founders
As of this writing, the masterminds behind the Bonk project have chosen to remain anonymous. As of January 2023, a comprehensive whitepaper for investors is conspicuously absent from the official website. Instead, visitors are greeted with a concise one-pager and the bonk-paper, which provides insight into token distribution, integration details, and convenient links to the SolScan blockchain explorer.
Unveiling the Uniqueness of Bonk (BONK)
Approximately half of the total supply, a staggering 50 trillion coins, is allocated to those who maintain the Solana blockchain and contribute to the community’s development in various capacities. According to Orca, a decentralized exchange built atop the Solana blockchain, the airdrop triggered a remarkable surge in trading volume, reaching approximately $20 million. Since its listing on multiple prominent cryptocurrency exchanges on December 30, 2022, the $BONK token has experienced a meteoric rise, soaring by over 2,000% in a mere week. Notably, it emerged as the top-performing crypto asset in 2023, boasting the highest return percentage.
BONK boasts an impressive repertoire of over 350 on-chain integrations, meticulously crafted by the community across a diverse range of verticals.
What Is the Circulating Supply of Bonk (BONK) Coins?
In tandem with the team’s overarching strategy, a significant 50% of the total supply was airdropped to Solana’s vibrant ecosystem, comprising artists, creators, and active community members who form the backbone of this thriving community.
The total supply of $BONK is approximately 100 trillion coins, allocated as follows:
Five percent allocation towards Team Development;
Five percent allocation to marketing initiatives;
Five percent allocation towards seeding initial liquidity;
Fifteen percent will be allocated to the Bonk DAO;
A generous 20% allocation is reserved for our early contributors, in recognition of their invaluable support.
A staggering 20% to 40% of Solana NFT collections, comprising a whopping 297,000 individual NFTs;
A 15% allocation will be reserved for early adopters of OpenBook, our pioneering traders.
A 10% allocation is reserved for esteemed Solana collectors and visionary artists;
A 5% allocation is designated for Solana developers.
As of January 2023, a staggering 56 trillion tokens are in circulation.
The Security Architecture of the Bonk Network
As a Solana-based token, BONK leverages a distinctive fusion of Proof-of-History (PoH) and Proof-of-Stake (PoS) consensus mechanisms, thereby enhancing throughput and scalability. Solana, a Layer 1 blockchain, is renowned for being one of the most high-performance permissionless blockchains on the market, boasting unparalleled speed and claimed throughput: its network of 200 distinct nodes is capable of processing an impressive 50,000 transactions per second (TPS).
Where to Acquire Bonk (BONK): A Comprehensive Guide
As of January 2023, BONK is listed on prominent exchanges, including Huobi, MEXC, Bybit, and Bitget, as well as Gate.io, Poloniex, Orca, LBank, BKEX, CoinEx, BitMart, Bitrue, DigiFinex, XT.COM, and BingX, offering users a diverse range of trading options.
Stay up-to-date with real-time BONK price movements by downloading the CMC mobile app.
Stay ahead of the curve with our blog, featuring the latest cryptocurrency news, trends, and expert insights.
Delve into the fascinating realm of meme coins and NFTs through our comprehensive educational section on CMC Alexandria.
Associated Resources:
Delve into the fascinating world of Shiba Inu (SHIB) and Dogecoin (DOGE), the two most iconic memecoins that have captured the imagination of the cryptocurrency community.
The latest intelligence on Solana (SOL), providing an up-to-the-minute snapshot of this burgeoning cryptocurrency.
Delve into the fascinating evolution of meme culture in the realm of NFTs with CMC Alexandria.
A memecoin, a term often shrouded in mystery, is demystified in the CMC glossary.