Bonk

price
change

Discover Bonk's fundamentals and latest news.

This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is Bonk?

Bonk (BONK) is a meme coin built on the Solana blockchain, introduced through a significant airdrop on December 25, 2022. It is known for its community-driven nature, decentralized autonomous organization (DAO), and unique features such as a burning mechanism to incentivize holding tokens. Bonk aims to become the premier community coin in Web3, with integrations across multiple chains, DeFi, gaming, and social platforms.

How is Bonk used?

Bonk (BONK) is a Solana-based dog meme coin that has gained significant traction within the Solana ecosystem. It is used in various ways, including:

  1. DeFi Integrations: BONK is integrated into the Solana DeFi ecosystem, allowing holders to use it in decentralized finance schemes such as lending, borrowing, and staking. Notable platforms include Solend, BONKomatic, Coin Rabbit, and Liquify.

  2. Gaming Applications: BONK is used in several gaming applications, including DOGE Track, Dead Ruby Studios, and Evio. These games offer rewards in BONK, which can be earned through gameplay.

  3. NFTs and Staking: BONK is accepted as a payment option for NFTs on platforms like OpenBook and Orca. It is also used as an incentive for staking NFTs on platforms like SolFarm and BonkStake.

  1. Decentralized Exchanges: BONK can be traded on both centralized exchanges (CEX) like Coinbase, Binance, and decentralized exchanges (DEX) like Raydium, Orca, and BonkSwap.

These diverse use cases have contributed to BONK's popularity and its growth within the Solana ecosystem.

How do I store Bonk?

To store Bonk (BONK) tokens securely, you can use a variety of digital wallets designed specifically for this purpose. Here are some options:

  1. Ledger Wallet:

    • Ledger Nano S Plus: Ideal for beginners, this wallet provides offline storage and signing of transactions, making it resistant to malicious attacks.
    • Ledger Nano X: Offers Bluetooth connectivity for easy management on the go.
    • Ledger Live App: A comprehensive platform for managing assets, tracking balances, and executing transactions.
  2. Trust Wallet:

    • Mobile Interface: Download and install the Trust Wallet app to store, send, receive, and exchange BONK tokens.
    • Security Features: Includes a Security Scanner and Encrypted Cloud Backup to keep your assets safe.
  3. Klever Wallet:

  • Seamless Transactions: Execute transactions smoothly with integration into the Bonk network.
  • Security Protocols: State-of-the-art security safeguards your assets from unauthorized access.
  • Intuitive Dashboard: Easily manage and monitor your BONK funds.
  1. Trezor Safe 3:
    • Solana Support: Since BONK is a Solana token, you can store it on your Trezor Safe 3 by using the Solana address. The wallet will automatically detect the BONK tokens.

These wallets prioritize security and ease of use, ensuring you have full control over your BONK tokens.

How to buy Bonk?

To buy Bonk (BONK) tokens, follow these steps:

  1. Choose a Crypto Exchange: Select a reputable crypto exchange that supports BONK, such as KuCoin, Binance, CoinEx, Kraken, OKX, Bybit, gate.io, or MEXC. Each exchange has its unique features, fees, and security measures, so research and compare them before making a decision.

  2. Create an Account: Register for a free account on your chosen exchange. This typically involves providing personal information, including your name and email address. Some exchanges may require KYC (Know Your Customer) verification to increase withdrawal limits and unlock additional features.

  3. Deposit Funds: Deposit funds into your exchange account using a credit or debit card, bank transfer, or other supported methods. You can also transfer existing cryptocurrencies from another wallet or exchange.

  1. Place a Buy Order: Navigate to the BONK trading pair on the exchange and place a buy order. You can choose from various order types, such as market orders or limit orders, depending on your trading strategy.

  2. Store Your Bonk: Once your order is executed, your BONK tokens will be credited to your exchange account. You can store them there or transfer them to a personal wallet for added security.

  3. Monitor Your Investment: Keep track of your BONK investment's performance and adjust your strategy as needed. You can use the exchange's tools or external resources to stay informed about market trends and prices.

Remember to always follow best practices for crypto security, such as using strong passwords, enabling two-factor authentication, and being cautious of phishing scams.

Discover
Bonk
We give you the tools to invest your time and money in 1000+ tokens.
Subscribe

History of Bonk

Bonk (BONK) is a dog-themed meme coin built on the Solana network. It was launched on December 25, 2022, with a significant proportion of its supply airdropped to Solana artists, collectors, and other contributors to the Solana ecosystem. The token is designed to bring liquidity back to the Solana ecosystem and is often referred to as the "community coin of Solana" due to its focus on empowering the wider Solana community.

The developers of BONK are anonymous, similar to the creator of Shiba Inu. They aimed to create a fun meme coin that would give everyone a fair shot, unlike the "toxic" tokenomics associated with Alameda in the Solana ecosystem. The token relies on the Proof of History and Proof of Stake consensus mechanism used on the Solana chain.

BONK has gained significant traction, with its price surging over 7000% year-on-year as of June 9, 2024. This growth is attributed to several factors, including the introduction of single-sided staking BONK pools, listings on major exchanges such as Coinbase and Kraken, and the approval of a proposal to burn over 278 billion BONK tokens, which created scarcity and boosted the token's value.

The BONK team plans to make the token community-driven, rewarding active builders and promoters for their efforts. They also aim to get BONK listed on several other centralized exchanges to further boost liquidity. The development of BONK will be overseen by the BONK DAO, which will form and implement initiatives to increase the token's use cases.

BONK is distinct from other meme coins like DOGE and PEPE due to its integration with the Solana ecosystem and its massive airdrop at launch. It is accepted as a payment option for NFTs on several platforms and is used as an incentive for staking NFTs on platforms like SolFarm and BonkStake.

Discover
Bonk
We give you the tools to invest your time and money in 1000+ tokens.
Subscribe

How Bonk works

Bonk (BONK) is a Solana-based meme coin that operates with unique tokenomics, including a deflationary burning mechanism. This mechanism involves a percentage of every transaction being permanently removed from circulation, reducing the total supply of Bonk over time. This approach incentivizes holding the token, as the reducing supply could potentially increase the value of remaining tokens.

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, including artists, creators, developers, NFT collectors, and active community members.

The Bonk ecosystem is comprehensive, with over 110 integrations spanning DeFi, gaming, developer, and exchange verticals. Holders can use their BONK in various decentralized finance schemes, such as lending and borrowing on Solend, staking on BONKomatic, and using it as collateral on Coin Rabbit. Additionally, BONK has made its way into the crypto-gaming world, with applications like DOGE Track, Dead Ruby Studios, and Evio, where players can earn BONK rewards.

The Bonk DAO, a decentralized autonomous organization, 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. This community-driven approach sets Bonk apart from other meme coins.

Bonk can be purchased on centralized exchanges like Coinbase, Crypto.com, Kraken, KuCoin, Binance, and OKX, as well as decentralized exchanges like Raydium, Orca, and BonkSwap. Ethereum users can also gain exposure to BONK through Wrapped BONK tokens.

Overall, Bonk's unique tokenomics, community-driven governance, and extensive integrations make it a notable player in the meme coin space.

Discover
Bonk
We give you the tools to invest your time and money in 1000+ tokens.
Subscribe

Bonk's strengths

The token Bonk (BONK) has several strengths that contribute to its popularity and potential for growth:

  1. Unique Tokenomics: Bonk's tokenomics are inherently tied to its burning mechanism, where a percentage of every transaction is permanently removed from circulation. This approach is designed to incentivize holding and discourage selling, potentially increasing the value of each remaining Bonk token over time.

  2. Strong Community Engagement: Bonk has a strong and active community, which is crucial for its success. The community is drawn to its playful branding and viral marketing campaigns, particularly on TikTok, where it became known as the "meme coin for intellectuals".

  3. Robust Blockchain Infrastructure: Bonk operates on the Solana blockchain, which provides it with greater accessibility and more opportunities for integration with various platforms and applications. This infrastructure supports the token's usability and value.

  1. High APY: Bonk offers high annual percentage yields (APY) for staking, with rates up to 125% APY through platforms like CoinUnited.io. This attracts investors seeking high returns on their investments.

  2. Growing Recognition: Bonk has quickly risen to prominence within the meme coin ecosystem, drawing in both casual enthusiasts and large-scale investors, known as "meme coin whales." This influx of significant market players suggests a bullish sentiment and potential for substantial price movements.

  3. Viral Marketing: Bonk's marketing strategy, which leverages humor, memes, and social media platforms, has been successful in drawing attention to the coin and its unique features. This approach has proven effective in building a strong community of supporters and investors.

These strengths collectively contribute to Bonk's appeal and potential for growth within the cryptocurrency market.

Bonk's risks

Bonk (BONK), a meme coin rooted in the Solana ecosystem, carries significant risks due to its extreme market volatility. Key risks include:

  1. Market Volatility: Bonk's price can undergo rapid and unpredictable changes based on factors such as social media influence, celebrity endorsements, and speculative trading. This volatility can result in significant losses for investors.

  2. Lack of Traditional Safety Nets: Investments in Bonk are not covered by traditional safety nets like the Financial Services Compensation Scheme (FSCS), posing higher risks to investors.

  3. Influencer-Driven Price Swings: Cryptocurrency 'whales' can significantly influence the early adoption and subsequent volatility of meme coins like Bonk, leading to unpredictable price movements.

  1. Susceptibility to Pump-and-Dump Schemes: The meme coin market, including Bonk, is susceptible to pump-and-dump schemes, which can lead to significant losses for investors.

  2. Regulatory Uncertainties: The lack of clear regulations in the meme coin market adds to the investment risks associated with Bonk.

  3. Potential for High Losses: Investing in Bonk, like other meme coins, carries the risk of losing all invested money due to market fluctuations and other factors.

These risks highlight the importance of thorough research and caution when considering investments in Bonk or other meme coins.

Discover
Bonk
We give you the tools to invest your time and money in 1000+ tokens.
Subscribe

Did Bonk raise funds?

Discover
Bonk
We give you the tools to invest your time and money in 1000+ tokens.
Subscribe

Bonk’s team

  • Bonk DAO: A 12-person council composed of Solana power brokers who manage $124 million worth of BONK tokens and are responsible for over 15% of all BONK tokens, making them the single largest holder of the meme coin.
  • 22 Developers: A team of 22 individuals with no singular leader, all of whom were involved in the inception of the project and have previously built decentralized applications (DeFi), non-fungible tokens (NFT), and other related products on Solana.
  • 20 Solana Developers: A core team credited with creating Bonk to inspire the Solana ecosystem in post-FTX times.

Whalee AI

The fundamental analysis assistant for crypto value investors.

Bonk NEWS REPORT

Similar tokens

dog-go-to-the-moon-rune
The Doge NFT
mew
cat in a dogs world
book-of-meme
BOOK OF MEME
pepe
Pepe
sats
SATS
Help us improve!
Tell us what you think of this page and which features you would like to see next.
OPEN FORM