BONK is a Solana-based canine meme coin with over 110 DeFi, gaming, developer, and alternate integrations, reworking from a unusual airdrop to pick out Solana holders right into a viral memecoin spiking over 25,000% in a single yr.
The Bonk story has all of the narrative components of a tech thriller– a Christmas airdrop to the Solana group within the midst of a selected brutal crypto winter, turned Cinderalla story giving early airdrop recipients a style of multigenerational wealth.
BONK payments itself as “The Dog Coin of the People” and was initially launched to Solana holders as a free airdrop on Christmas 2022. Since then, BONK has been added to the world’s largest exchanges, Coinbase and Binance, and minted many BONK millionaires off a free airdrop.
According to Bonk’s web site, “BONK’s adoption has since grown parabolically to emerge as the true community coin of web3.”
Is this the story of an underdog to the highest canine of the memecoin world?
Is BONK simply Z-Gen Dogecoin?
It may not be as senseless as many individuals have made meme cash out to be. The Bonk staff is definitely transport product, similar to over 115 integrations spanning together with DeFi, developer, and gaming verticals– there’s even a Bonk first-person shooter the place folks can earn BONK by choosing up orbs.
In a half hour, the primary of the @bonk_inu occasions will begin.
Simply have your Bonk character pores and skin outfitted and it is possible for you to to choose up these spinning Bonk orbs in deathmatch. Each orb is 8 million bonk which matches straight to your pockets.
Good luck! pic.twitter.com/CWzUG2vmge
— ev.io (@play_evio) May 31, 2023
Let’s discover all of the above and extra in CoinCentral’s Guide on Bonk.
What is BONK Crypto: The New Hot Dog on the Blockchain
You’re right here for one cause.
Not seeking novel expertise. You got here since you noticed a random coin referred to as BONK begin trending, get listed on Coinbase, and go up 25,622.23% in a yr.
We don’t blame you. (That’s an actual quantity, by the way in which. )
BONK was born within the harsh bear market winter winds of December 2022. The crypto market had been decimated by the Luna, Celsius, BlockFi, and FTX blowups. Solana’s shut ties with FTX despatched it right into a quicker spiral– SOL was buying and selling at about $8, down 97% from its peak of about $260.
And then got here BONK, a dog-themed memecoin drawing inspiration from the unique BONK memes, that includes a canine character, Cheems, being bonked on the top. Tragically, the canine on whom Cheems was based mostly, passed away in a battle with cancer.
He didn’t even get to see BONK get listed on Coinbase 🙁
Pivoting from the Bonk meme’s unhappy lore again to crypto BONK, the dog-themed coin was airdropped to Solana community members. Anyone from people within the Solana DeFi ecosystem or SOL-based NFT collectors and artists, and builders obtained some BONK thrown their means.
LamportDAO devs obtained about 5% of the overall token provide– about $300 per dev valued at over $500,000 right this moment.
Upon heading over to the BONK website, the venture begins to really feel completely different from what is perhaps dismissed as simply one other crypto meme.
Does the location appear like you’re trapped inside an enormous McDonald’s M? Sure. But there’s extra to it than meets the attention.
BONK Tokenomics and Distribution
BONK has a most provide of 100,000,000,000,000 BONK– that’s 100 trillion BONK. Currently, about 60% of its most provide is issued, so about 61,837,624,528,359 BONK.
A single BONK has hovered round $0.00002943 and $0.000001943.
The BONK Team
The creation of Bonk is credited to a core staff of 20 Solana builders and builders, who launched BONK to encourage the Solana ecosystem in post-FTX instances.
BONK DeFi: Can You Stake Bonk?
BONK is pretty nicely built-in into the SOL DeFi ecosystem, enabling holders to make use of their BONK in all kinds of decentralized finance schemes.
Just a few notable methods you need to use your BONK in DeFi embrace:
- Solend: Lend and earn or borrow with $BONK
- BONKomatic: Stake $SOL and earn $BONK
- Coin Rabbit: Use your $BONK as collateral to get loans from Coin Rabbit
- Liquify: Convert NFTs into $BONK
But that’s not all– BONK has even made its means into the crypto-gaming world.
BONK Gaming: Is BONK Play-to-Earn?
BONK’s low value-per-token is prime for gaming. Earning BONK rewards in numerous video games feels actual however isn’t high-value sufficient to drive the venture into an inflationary spiral– a problem many GameFi tasks discover themselves succumbing to.
Here are just a few BONK gaming purposes:
- DOGE Track: Use $BONK to race doges at a dogetrack
- Dead Ruby Studios: a free-to-play arcade recreation the place gamers can seek for treasure ($BONK)
- Evio: A primary-person shoot-to-earn recreation.
BONK vs. DOGE vs. SHIBU
BONK is at present the runt of the canine meme coin litter, having simply touched a $2B market cap.
Dogecoin (DOGE), the highest canine meme coin, hit a $70B market cap at its highest in 2021.
SHIB hit a $43B market cap in 2021.
Each canine coin has a special pedigree.
DOGE launched on the finish of 2013; its code was copied from a new-defunct coin referred to as Luckycoin, which was a fork of Litecoin (LTC), which was itself a fork of Bitcoin (BTC). In 2014, the Dogecoin mining course of was built-in with Litecoin’s mining course of, permitting miners to mine both Litecoin and Dogecoin with out further work.
SHIB is an ERC-20 token on the Ethereum blockchain.
BONK is is a Solana token.
Both BONK and SHIB had been created with exceptionally excessive provide resulting in a really low cost per individual coin, which social sentiment tends to favor.
A single BONK prices about $0.00002869, successfully making any BONK holder with over $30 of the coin a “BONKillionaire”– holders of hundreds of thousands, lots of of hundreds of thousands, and billions of BONK.
DOGE, comparatively, has primarily priced throughout the confines of $0.01 to $1.00.
How to Claim BONK: Warning– Don’t Get Scammed
The BONK airdrop was distributed to NFT collectors, devs, and early Openbook merchants (a Solana DEX).
If you merely simply had SOL in your pockets or had been staking it, you sadly didn’t qualify.
Is it too late to assert your BONK on Solana?
The airdrop is over, so sure, it’s too late to assert BONK. The almost definitely case is that you just had some Solana-based NFTs, and you need to test your Phantom pockets or no matter Solana pockets you employ for the airdrop. If it’s not in there, you almost certainly didn’t get it.
Don’t fall for any scams or hyperlinks making an attempt to get you to signal away access to your personal keys.
There are dozens of articles being pumped with hyperlinks to rip-off variations of BONK, don’t click on these and FOMO into getting malware or all your cash stolen. AI is making it very low cost to provide legit-sounding content material with faux hyperlinks quickly.
The official Bonk web site is: https://bonkcoin.com/
The official Bonk Twitter is: https://twitter.com/bonk_inu
Final Thoughts: Is Bonk Here to Stay?
Wrapping up our journey into the world of BONK, we discover ourselves on the intersection of foolish, heads-down bear market innovation and the sheer unpredictability of the cryptocurrency universe.
Folks urgently wanting up “BONK crypto” or “BONK price prediction” could also be pleasantly intrigued that there’s extra to the venture than meets the attention.
Bonk’s integration into the Solana ecosystem is pretty strong, and help of the venture (particularly after minting just a few millionaires) has grown.
Each token isn’t price a complete lot on the present worth of $0.00002006, however when you’ve hundreds of thousands or billions of them stashed in a pockets, it will probably actually add up.
BONK’s meteoric rise, from a free air drop to a millionaire-maker, is a testomony to the unpredictable nature of the cryptocurrency market, in addition to a narrative about group. BONK’s integration into Solana’s DeFi and gaming dapps is a savvy market play, serving to set a better bar for brand new digital currencies, memecoin or not.
Still, as a lot as we are able to esteem BONK’s favorable options and results, we’re reminded of the cruel actuality that BONK might very nicely bust as quickly because it boomed like hundreds of tokens earlier than it.
Whether BONK is destined for fulfillment amongst comparable tasks like DOGE and SHIB, or it’s fated to be a footnote in crypto historical past, its story is undeniably a reinvigorating breath of air for a cryptocurrency group battered by the months-long sequence of dangerous information in 2022.
