A Deep Dive Into Bonk— The Solana-Based Memecoin

## What Is Bonk (BONK)?

According to the one-pager, BONK is the first dog-themed coin on [Solana](https://coinmarketcap.com/currencies/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)](https://coinmarketcap.com/currencies/shiba-inu/) and [Dogecoin (DOGE)](https://coinmarketcap.com/currencies/dogecoin/) 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.

The main goal of the team is to bring back liquidity to Solana-based decentralized exchanges ([DEXs](https://coinmarketcap.com/alexandria/glossary/decentralized-exchange-dex)). The idea of the developers was to create a full-fledged community coin that will be used across all the [dApps](https://coinmarketcap.com/alexandria/glossary/decentralized-applications-dapps) built on Solana, and each user will have the opportunity to become part of the ecosystem, "where everyone gets a fair shot".

BONK was airdropped randomly to Solana [NFT](https://coinmarketcap.com/alexandria/glossary/non-fungible-token) 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.


## Who Are the Founders of Bonk?

At the time of writing, the team behind the Bonk project remains anonymous. As of January 2023, there is no comprehensive whitepaper for investors on the official website, instead visitors can see the one-pager and the bonk-paper with information about the token distribution, integration details, and links to the blockchain explorer - SolScan.


## What Makes Bonk (BONK) Unique?

BONK is an airdropped community memecoin that is dedicated to the Shiba Inu dog and launched in the decentralized organization - Bonk [DAO](https://coinmarketcap.com/alexandria/glossary/decentralized-autonomous-organizations-dao). The token is deployed on Solana, while most of the known dog-theme coins run on [Ethereum](https://coinmarketcap.com/currencies/ethereum/). Introducing the project is a way to support the Solana community, especially after the FTX collapse. Thus, BONK was created as a coin of the Solana blockchain community with the intention of providing more control to Solana users, as well as restoring the supremacy of the blockchain in the field of decentralized finance ([DeFi](https://coinmarketcap.com/alexandria/glossary/defi)). 

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.

Some projects built on Solana have already integrated $BONK as an option to make payments for NFTs, while others have provided users with the opportunity to earn BONK tokens for staking NFTs. 


## Related Pages:

Read about [Shiba Inu (SHIB)](https://coinmarketcap.com/currencies/shiba-inu/) and [Dogecoin (DOGE)](https://coinmarketcap.com/currencies/dogecoin/) - the most well-known memecoins.

The latest data about [Solana (SOL)](https://coinmarketcap.com/currencies/solana/).

Learn more about the evolution of meme culture in the world of NFTs with [CMC Alexandria](https://coinmarketcap.com/alexandria/article/the-evolution-of-meme-culture-in-the-world-of-nfts).

What is a memecoin? Find out with the [CMC glossary](https://coinmarketcap.com/alexandria/glossary/memecoin).


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

In line with the team's strategy, 50% of the total supply was airdropped to Solana users (artists, creators, and active community members).

The total supply of $BONK is nearly 100 trillion coins, distributed 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 January 2023, there are 56,000,000,000,000 tokens in circulation.


## How Is the Bonk Network Secured?

As a Solana-based token, BONK relies on a unique combination of Proof-of-History ([PoH](https://coinmarketcap.com/alexandria/glossary/proof-of-history-poh)) and Proof-of-Stake ([PoS](https://coinmarketcap.com/alexandria/glossary/proof-of-stake-pos)) consensus mechanisms, which improves throughput and scalability. Solana is a Layer 1 blockchain, considered one of the most high-performance permissionless blockchain on the market and fastest networks due to its speed and claimed throughput: the network of 200 distinct nodes can process up to 50,000 transactions per second (TPS).


## Where Can You Buy Bonk (BONK)?

As of January 2023, BONK can be traded on platforms like [Huobi](https://coinmarketcap.com/exchanges/huobi/), [MEXC](https://coinmarketcap.com/exchanges/mxc/), [Bybit](https://coinmarketcap.com/exchanges/bybit/), [Bitget](https://coinmarketcap.com/exchanges/bitget/). It’s also available on [Gate.io](https://coinmarketcap.com/exchanges/gate-io/), [Poloniex](https://coinmarketcap.com/exchanges/poloniex/), [Orca](https://coinmarketcap.com/exchanges/orca/), [LBank](https://coinmarketcap.com/exchanges/lbank/), [BKEX](https://coinmarketcap.com/exchanges/bkex/), [CoinEx](https://coinmarketcap.com/exchanges/coinex/https://coinmarketcap.com/exchanges/coinex/), [BitMart](https://coinmarketcap.com/exchanges/bitmart/), [Bitrue](https://coinmarketcap.com/exchanges/bitrue/), [DigiFinex](https://coinmarketcap.com/exchanges/digifinex/), [XT.COM](https://coinmarketcap.com/exchanges/xt/), [BingX](https://coinmarketcap.com/exchanges/bingx/), and [Hotbit](https://coinmarketcap.com/exchanges/hotbit/).

Want to keep track of BONK prices live? Download the [CMC mobile app](https://coinmarketcap.com/mobile/).

Check out our [blog](https://coinmarketcap.com/alexandria/categories/blog) for the latest crypto news and insights.

Read our educational section on meme coins and NFTs - [CMC Alexandria](https://coinmarketcap.com/alexandria/article/the-evolution-of-meme-culture-in-the-world-of-nfts).

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