What is BONK and How is it Different from Other Meme Coins?

• 1 Bonk is a dog-themed meme coin gathering social media attention for its robust performance.
• 2 Bonk was introduced on December 25, 2022, by an airdroop.

BONK is a crypto coin works with Solana DApps on the network, rewarding users for their involvement. BONK started in 2017 as the coin for the Solana community, aiming to be popular among various DApps. BONK values community power and decentralization, avoiding traditional VC influence. BONK mainly supports NFT fans, DeFi users, artists, collectors, and developers on Solana.

Dexlab, a DEX, minting lab, and launchpad, made BONK. The web3 payments API, Helio, and the Famous Fox Federation gave the initial money and help for BONK, and also helped with the airdrop and other plans. The creators of BONK are not known.

BONK’s main role is as a governance token in the BONK system, enabling community-driven choices and progress. 

Bonk Use cases

Governance and Voting: $BONK holders can join in governance matters, affecting platform fees and fund distribution in the BONK Community Treasury.

Community Rewards and Airdrops: Half of the $BONK supply went to the Solana community members through an airdrop, trying to boost the network and thank its active users.

BONKDAO Involvement: A big part of $BONK tokens is for the BONKDAO, which lets community members support ideas and projects that they like, making BONK grow and be adopted more.

Ecosystem Development: Money is also saved for marketing, development work, and grants to make BONK more widely used.

Long-term Incentive Alignment: Early helpers of BONK have to wait for three years to get their tokens gradually, to make sure they care about the long-term success of the token.

$BONK also has many connections with different blockchain chains, making it more useful in DeFi and gaming areas, and is more and more used as a game currency. The continuous growth and change of the $BONK system are focused on making it easier to access different chains, making DeFi simpler for holders, and increasing its role in blockchain gaming.

Bonk Tokenomics

BONK is a top meme coin that ranks third in terms of market cap after DOGE and Shiba Inu, and 43rd among all cryptos as of mid-December 2023. It registered a tremendous growth of more than 10,000% in the year 2023 and has a total supply of 100 Trillion, of which 60 Trillion supply is in circulation.

Comparison of Bonk, Doge, and SHIB 

BONK is the tiniest of the dog meme coins, hardly getting a $2 Billion market cap. However, Dogecoin is the captain of the dog meme coins, which peaked at a $70B market cap in 2021 while SHIB acquired a $43B market cap in 2021.

SHIB token is built on the Ethereum blockchain while BONK is on the Solana blockchain. Both BONK and SHIB have very high supply and very low prices per coin, which people like.

A single BONK costs about $0.00002869, so anyone with more than $30 of the coin is a “BONKillionaire”– owners of millions, hundreds of millions, and billions of BONK.

DOGE, on the other hand, has mostly stayed between $0.01 and $1.00.