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Bonk

Bonk: everyting you need to know about BONK

Axel van den Boogaard

Axel has been immersing himself in the world of crypto and blockchain for quite some time, which he then translates into understandable articles.

Bonk facts

Abbreviation

BONK

Category

Meme / Dog-Themed Coins

Founder(s)

Blockchain

Solana

Protocol

Launch date

December 2022

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What is Bonk?

Bonk, launched on the Solana blockchain, is characterized as the first "dog coin" on Solana aimed at the community. It distinguishes itself through its unique approach to tokenomics, including a significant airdrop of 50% of the total supply to the Solana community. This approach is intended to create a fair and accessible system for all users.

How does Bonk work?

Bonk, a cryptocurrency that focuses on a unique economic model, uses a so-called 'burn mechanism' to influence the value of its tokens. This mechanism works as follows:

  • Transaction burning: With each transaction involving Bonk tokens, a certain percentage of the transferred tokens is permanently removed from circulation. This is often done to combat inflation and create scarcity.
  • Value appreciation: By constantly reducing the available supply, Bonk creates a deflationary pressure, which theoretically can increase the value of the remaining tokens. This is because scarcity is often seen as value-enhancing in the world of cryptocurrency.
  • Long-term strategy: This burning mechanism encourages the holding of tokens, as the expectation is that the tokens will become more valuable as the total supply decreases. This can generate speculative interest in the long term.

The Bonk token

Bonk has a maximum supply of 1 billion tokens, of which more than 65% has already been burned. This approach encourages holding onto tokens and discourages selling, potentially increasing the value of each remaining Bonk token.

This strategy of burning a large portion of the tokens can attract potential investors interested in the long-term value of the coin. However, it also carries a risk as the actual value of the coin still depends on market demand and supply.

The technology behind BONK

Bonk, as a cryptocurrency based on the Solana blockchain, utilizes a number of advanced technologies and features that are characteristic of this blockchain. These elements contribute to the functionality, speed, and security of Bonk. Let's delve deeper into the technological aspects.

Solana Blockchain Infrastructure:

  • Speed and Scalability: Solana is known for its high throughput and low transaction costs, making it ideal for processing microtransactions like those often seen with meme coins.
  • Proof of History (PoH): Solana uses a unique consensus mechanism called Proof of History, which contributes to its efficiency. PoH works by creating a historical record that verifies the order and time between events, allowing the blockchain to operate faster and more efficiently.
  • Smart Contracts: The ability to execute smart contracts on Solana means that Bonk can integrate with various DeFi applications and services, providing the token with additional functionality and utility.

Interoperability and Integration:

  • Cross-chain functionality: Bonk benefits from Solana's interoperability with other blockchains, which improves the accessibility and interchangeability of the token with other cryptocurrencies.
  • Integration with DApps and Services: Solana's compatibility with various decentralized applications (DApps) and services provides Bonk with opportunities for integration in different ecosystems, from gaming to financial applications.

Usability and Accessibility:

  • Simple User Experience: The Solana blockchain offers a user-friendly experience, which is important for the adoption of Bonk by a wider audience, especially for those who are new to the world of cryptocurrency.
  • Wallets and Storage: Bonk tokens can be stored and managed in various wallets that are compatible with Solana, giving users flexibility in how they manage their assets.

Security and Stability.

  • Robust Security: Solana's blockchain architecture provides strong security mechanisms, which are important for protecting Bonk tokens against hacks and fraud.
  • Network stability: Despite some early challenges with network stability, Solana has taken steps to improve the reliability and continuity of its network, benefiting Bonk and its users.

The Bonk ecosystem

The Bonk ecosystem consists of multiple components, including:

  • BonkSwap: A decentralized exchange (DEX) for trading Bonk tokens.
  • BonkDex: A DeFi platform that offers services such as borrowing, lending, and staking.
  • BonkVault: An unhosted wallet for securely storing Bonk tokens

€0.00001914
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Benefits of Bonk

  • Listing on popular centralized exchanges such as Coinbase, Binance, and KuCoin.
  • Part of a growing Solana ecosystem.
  • Remarkable price action in 2023, with an increase of over 10,000%.

Disadvantages of Bonk.

What are some disadvantages of Bonk?

  • A high total supply of 100 trillion coins.
  • Meme coins may face reduced hype.
  • Limited usability and high market volatility.

Who is the founder of Bonk?

There is no specific information available about the founders of Bonk. This adds to the mystique but also to the uncertainty surrounding the project.

Expectations for the near future.

Experts expect a minimum price of €0.00006240 in 2026 and a minimum price of €0.000206 in 2031.

Bonk price in the last 24 hours

View all key statistics of the past 24 hours here.

24h ago

€0.00002143

24h high

€0.00002388

24h low

€0.00002084

24h change
€0.00000233

Market information

Use these figures to get a better picture of the Bonk market.

24h volume

€255.8 million

Marketcap

€1.4 billion

Bonk in circulation

66,295.5 billion

All time high

€0.00004186

Bonk Return On Investment

See how much the price has risen or fallen over the years.

1 month
4.71%
6 months
1.72%
1 year
7,419.92%

Historical Bonk price

Here you can see Bonk's daily prices, trading volume and market cap. Looking for a specific date? You can fill in the range all you want. Maybe you'll spot the one trend!

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