Created to bolster Solana and foster its ongoing growth, Bonk Inu’s primary utility lies in the widespread adoption of its token, BONK.
While Bonk Inu shares similarities with other dog-themed meme coins like Dogecoin (DOGE) and Shiba Inu (SHIB), it possesses unique characteristics that set it apart. Initially, the team had planned to allocate another 5% of the token supply for themselves, but due to various concerns, the anonymous team opted to burn this allocation instead. The final 5% was set aside for marketing promotions, advertisements, and other activities to increase BONK’s presence in the cryptocurrency space. These contributors play an active role in BONK’s ongoing development and are subject to a 3-year linear vesting period that began on January 1st, 2023.įurthermore, 15% of the tokens were distributed to BonkDAO, a decentralized organization designed to give the community more control over initiatives, token distribution and management, and other project aspects.Īn additional 5% of the token supply was dedicated to providing initial liquidity for decentralized exchanges like Radium, Orca, and Solend, as well as other platforms such as FFFlip, Monaco Protocol, and BOIBOOK. The other 50% of the token supply was primarily allocated to the 22 early contributors who supported the project in various ways, including artwork, token design, marketing, integrations, web development, business development, and providing initial liquidity. 10% - NFT artists and 1/1 art collectors.20% - Solana investors of the top 40 NFT collections.With a total supply of 100 trillion tokens, BONK’s airdrop distribution was as follows:
The Famous Fox Federation, a well-known NFT collection, provided the tools necessary for the airdrop. $BONK Tokenīonk Inu’s (BONK) launch took place on December 29th, just before the new year, and involved an airdrop of 50 trillion tokens (half of the total supply) to investors, artists, collectors, and developers. The project’s ambitious vision positions BONK as the main currency on Solana (besides SOL I guess), with plans to incorporate various utilities in the future. Since BONK’s debut, the value of SOL has nearly doubled, and BONK itself has experienced remarkable growth in a short span of time. The introduction of BONK coincided with a difficult period for Solana, but the meme-based altcoin managed to revive the community and encourage investors to return. BONK aims to serve as Solana’s true community coin, empowering the users that constitute the network’s social layer and supporting the flourishing dApps ecosystem. However, many community members have been hurt by VC manipulation and unethical practices, such as those linked to FTX. Solana users have historically gravitated toward the blockchain because of its impressively low gas fees. Drawing inspiration from Dogecoin, BONK is a canine-themed altcoin with a focus on fostering a lively community. On December 29th, the developers airdropped 50% of BONK’s total supply to four distinct groups within the Solana ecosystem: NFT collectors, DEX traders, NFT artists, and Solana developers. Unlike many Solana-based altcoins that disproportionately benefit early investors, BONK was conceived as a truly community-driven alternative. What is Bonk Inu?īonk Inu (BONK) emerged as a response to the venture capital (VC) influence that had long plagued Solana. This was particularly noteworthy given Solana’s recent setbacks, including its connection to the now-defunct FTX and the departure of prominent non-fungible token (NFT) projects such as DeGods and Y00ts. Despite limited publicity during its development, Bonk Inu’s unveiling coincided with a critical moment for the Solana blockchain, which the token is designed to support. The project’s official launch attracted significant interest due to the airdrop of approximately 50% of the token’s total supply, which amounts to 100 trillion tokens. Interestingly, the identities of Bonk Inu’s founders remain undisclosed. The Famous Fox Federation contributed significantly to the token’s success by managing the airdrop, raffles, and other promotional activities. Additionally, the web3 payments API, Helio, provided the initial funding necessary to kickstart the project. Dexlab, a multifaceted platform encompassing a decentralized exchange (DEX), minting lab, and launchpad, played a crucial role in its creation. Bonk Inu’s journey began long before its public introduction in December 2022.
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