About Bonk
Bonk is a Solana-based token that went live on December 25th 2022 via an airdrop to Solana NFT holders.
Like several meme coins before it, including Dogecoin, Floki Inu and Shiba Inu Coin, Bonk is themed after the famous Shiba Inu dog Kabuso, who was diagnosed with leukemia and liver disease on Christmas Eve of 2022.
The creators of Bonk Inu (BONK) have suggested that their motivation was partly to build something that was "for the people, by the people", and that didn't use the kind of "toxic tokenomics" they associated with Solana-based tokens boosted by Alameda Research and FTX.
In the so-called 'Bonkpaper' the team describe Solana's 2022 as a "brutal year" characterized by "predatory actors extracting from retail for their own gain."
Shortly after the launch of Bonk, Solana's native token (SOL) recovered from a post-FTX meltdown low of $8.29 to closer to $13, which some analysts have suggested is partly due to the upsurge in enthusiasm for Solana delivered by the Bonk project.
Like other meme coins, Bonk may have limited utility at the outset, but continued adoption by Solana enthusiasts could result in an influx of developers who might be incentivized by the 5% of the token held back for devs.
