A Deep Dive Into Bonk The Solana-Based Memecoin

They designed BONK as a comprehensive community coin integrated across Solana-built decentralized apps with the vision of a collaborative ecosystem where everyone benefits equitably. Another key perk of this project is that a portion of the treasury has been dedicated to charitable causes, which means the more Dogecoin20 grows, the more people will be helped. Being a community-centric token, Dogecoin20 will also give the community complete control of the asset when the time arises, allowing its ecosystem to grow by itself and leading to the emergence of more utilities. While sharing similarities with other meme tokens, BONK distinguishes itself through its unique attributes. It serves as one of the pioneering Solana-powered meme tokens, diverging from the earlier trends in blockchain technologies.

Operating as a completely remote company without how to buy halo-fi stock physical offices, Coinbase serves over 100 countries and hosts more than 250 major crypto assets. Binance employs a tiered fee system, ranging from regular users to VIP 9, wherein fees decrease based on the deposited amount and trading volume on the exchange. Regular users encounter a 0.10% maker-taker fee, while BTC and ETH investors trading in the spot market currently enjoy fee-free transactions. We are compensated in exchange for placement of sponsored products and services, or by you clicking on certain links posted on our site. Therefore, this compensation may impact how, where and in what order products appear within listing categories, except where prohibited by law for our mortgage, home equity and other home lending products. Other factors, such as our own proprietary website rules and whether a product is offered in your area or at your self-selected credit score range, can also impact how and where products appear on this site.

A massive portion of its initial supply was distributed for free to the Solana community, helping generate support and enthusiasm for the project. CoinMarketCap Academy takes a deep dive into Bonk, which claims to be the first Solana dog memecoin “for the people by the people.” The BONKDAO announced a special BONKmas rewards program for loyal BONK community members. To participate, you should have at least 1 million BONK tokens in your wallet as of November 30 and check your eligibility here. Participate in the tasks outlined to claim BONKmas rewards between December 24 and December 31, 2023. The extent to which BONK is adopted and used within the Solana ecosystem, especially in dApps, can affect the BONK coin value.

How to Use BONK Token

According to the one-pager, BONK is the first dog-themed coin on Solana “for the people, by the people” with 50% of the total supply of the cryptocurrency airdropped to the Solana community. BONK is similar to Shiba Inu (SHIB) and Dogecoin (DOGE) memecoins, it was launched on December 25, 2022, and led to an increase in the price of the SOL token (a rise of 34% in 48 hours). Trading began on December 30, 2022, arousing genuine interest from the crypto community. Founded in 2018, this exchange has swiftly become a primary hub for enthusiasts interested in both popular and lesser-known meme coins. Headquartered in Seychelles, MEXC exchange holds official licenses for representation in countries like the USA, Canada, Switzerland, and Australia.

Yes, BONK i s available on multiple centralized exchanges like MEXC, Binance, Coinbase, KuCoin and more. If you are a beginner, we recommend that you check out our guide on how to buy cryptocurrency safely. Meanwhile, check out our Coinbase vs Binance guide to discover the one that delivers the best services among the two.

Established in 2017, KuCoin stands as a prominent cryptocurrency exchange dedicated to facilitating the seamless global exchange of digital assets. Recognized as the “people’s exchange,” KuCoin prioritizes user-friendly design, a simplified registration process, and robust security measures. The exchange proves to be an excellent option for potential BONK investors, offering seamless token purchases and safe storage within what it claims to be one of the safest online wallets globally.

1. The cryptocurrency market’s recent signs of growth has refocused investors’ attention on projects like BONK.
2. Any estimates based on past performance do not a guarantee future performance, and prior to making any investment you should discuss your specific investment needs or seek advice from a qualified professional.
3. It’s also available on Gate.io, Poloniex, Orca, LBank, BKEX, CoinEx, BitMart, Bitrue, DigiFinex, XT.COM, BingX.
4. As an SPL (Solana Program Library) token, BONK is integrated with various dApps (decentralized applications) on the Solana network, enhancing its utility across the ecosystem.
5. The coin serves as an incentive for users to contribute and participate actively in the Bonk ecosystem.

Bonk (BONK) Coins Tokenomics

To commemorate its Airdrop anniversary, the project initiated several competitions and promotional events, further fostering engagement and growth for the token. Overall, BONK has displayed healthy and promising growth, potentially indicating further expansion. As mentioned previously, BONK was initially introduced through an airdrop to many ecosystem participants before its official launch in the market. However, unlike many of its counterparts, the token did not follow a typical price trajectory characterized by sharp rises followed by significant plunges that persist for several years. BONK, as described on its website, prioritizes community engagement, evident through its extensive integrations with Web3 partners, ranging from wallets to NFTs and gaming platforms.

Secure & Trusted

Nearly half of the total supply, i.e. 50 trillion coins, is distributed among those who maintain the Solana blockchain and contribute to the development of the community in any way possible. According to Orca, a DEX built on top of the Solana blockchain, the airdrop resulted in approximately $20 million in trading volume. Since $BONK was listed across a number of popular crypto exchanges on December 30, 2022, the token has grown by over 2,000% in a week.

DOGE was just the first wave though, and many more pixelated moonshots have come and gone since. A highly engaged community can increase demand and usage, potentially driving the BONK to USD price. BONK rewards various members of the Solana community, including NFT enthusiasts, DeFi traders, artists, collectors, and developers. Besides rewarding current Solana community members, BONK aims to attract and introduce new users to web3 concepts like self-custody, decentralized finance (DeFi), NFTs, etc.

If you would like to know where to buy Bonk at the current rate, the top cryptocurrency exchanges will other companies follow tesla into bitcoin stock for trading in Bonk stock are currently Binance, Bybit, OKX, DOEX, and DigiFinex. However, investors should exercise caution as the token has already experienced substantial price increases. Waiting for a slight correction might be advisable for those seeking more favorable entry points. At present, the project boasts an impressive community base, with over 649,000 holders and more than 100 integrations across various Web3 projects, extending its support to 10 different blockchain networks.

However, a one-pager and bonk-paper are available online outlining token distribution, integration information, and blockchain explorer links. BONK was airdropped randomly to Solana NFT collectors, developers, and artists, other airdrop details remain unknown. Currently, the project has a small digital footprint on the Internet, except for an active twitter account. BONK was airdropped to investors during Christmas in 2022, but the token was officially made available for public trading in January 2023. The meme coin is currently available as a presale and has raised more than $3.5 million already. Those who are interested in Dogecoin20 can visit the official website before the current presale stage ends.

The second-largest crypto, Ethereum, made a similar move in 2021, when it began burning transaction fees on its network. The Bonk cryptocurrency (symbol BONK) is based on Solana, one of the most popular coins, and so it’s integrated with the larger Solana ecosystem. The coin’s ultra-low price — miniscule fractions of a cent — means that even pocket change can buy you tens of thousands of coins. If Solana attracts more developers and users, it could positively impact the value of BONK coin. 50% of all BONK tokens are airdropped to various community members within the Solana ecosystem – including NFT enthusiasts, DeFi traders, what is a blockchain phone a look at 7 current and upcoming crypto handsets security artists, collectors, and developers. Bonk (BONK) is a native utility token of the Bonk ecosystem, designed to be used within this ecosystem as an interoperable utility token.