Bonk information

What is Bonk?

Bonk (ticker BONK) is a community-driven meme-token built on the Solana blockchain. According to its official website, it is positioned as “Solana’s social layer and community meme coin with deep integrations as a utility token across a wide base of application and protocols”.

Whitepaper: https://bonk.sfo3.cdn.digitaloceanspaces.com/docs/BONK-Paper.pdf 

 

How does Bonk work?

BONK is issued as an SPL-token (Solana Program Library token) on Solana.

It leverages Solana’s fast, low-fee blockchain infrastructure (Proof of Stake + Proof of History) rather than having a separate chain. Its utility is designed to go beyond a pure meme: it has been used for tipping, payments, as liquidity asset in DeFi, and as a component of the “community engagement” strategy.

The token

• Abbreviation: BONK
• Category: Meme-token / community token with utility (on Solana ecosystem)
• Blockchain: Solana (SPL token standard)
• Protocol: Works under Solana’s consensus (Proof of Stake + Proof of History)
• Year of launch: December 25, 2022 – the token was publicly airdropped on Christmas Day 2022.
  
   

The technology behind Bonk

Since BONK sits on Solana, it inherits Solana’s technological stack: high throughput (tens of thousands of transactions per second in design), very low transaction costs, and a consensus model combining Proof of Stake (PoS) with Proof of History (PoH) for ordering and timestamping.
This means BONK transactions benefit from the speed and efficiency of Solana, and the network’s lower energy usage relative to older Proof-of-Work chains.

The Bonk ecosystem

The BONK ecosystem includes the following elements:

• A large airdrop at launch: 50% of supply (approx) was distributed to Solana users, NFT artists/collectors, developers and the broader community as a way to decentralize ownership.
• Integration into DeFi / DEX services: for example, BonkSwap is a decentralised exchange that supports BONK trading.
• Community governance: There is mention of a BONK-DAO structure which gives token holders governance rights in ecosystem decisions.
• Utility in tipping, NFTs, social layer: The token is designed to serve as “the community coin of Solana” and be used across apps in the Solana ecosystem.
  
   

Who is the founder of Bonk?

The project is somewhat anonymised: According to a regulatory asset statement, the whitepaper names “14661346 CANADA LTD” as the company behind BONK, and lists a director named Rudy Mitchell. The project emphasises community ownership and says it was launched with many early contributors (22 contributors) rather than a single named founder.

Impact on the environment

Click here to read more information about the environmental impact of this coin.