According to the page, BONK is the first dog-themed coin on Solana “for the people, by the people” with 50% of the total cryptocurrency supply airdropped to the Solana community. BONK is similar to the memecoins Shiba Inu (SHIB) and Dogecoin (DOGE), and was launched on December 25, 2022, and led to an increase in the price of the SOL token (34% rise in 48 hours). Trading began on December 30, 2022, sparking real interest from the cryptocurrency community.
The team’s main goal is to bring liquidity back to Solana’s existing decentralized exchanges (DEXs). The developers’ idea was to create a complete community currency that would be used across all decentralized applications built on Solana, and every user would have the opportunity to become part of the ecosystem, “where everyone gets a fair shot.”
BONK was dropped randomly to collectors, developers, and artists on the Solana NFT, and other airdrop details are still unknown. Currently, the project has a small online digital footprint, with the exception of an active Twitter account.