Bonk on ETH
Crypto Overview
Overview
BONK is a memecoin that was launched on ETH network in response to the success of the same token on Solana blockchain. The token appears to have been created to capitalize on the popularity of the original BONK token.
Purpose and Utility
The token's primary stated purpose is to serve as a memecoin and community token. It has no explicit utility beyond trading and potential speculation. Unlike the original Solana-based BONK, this version appears to be solely focused on trading activity.
Business Model
The token operates purely as a tradeable asset on the Ethereum blockchain. There is no clear business model beyond facilitating trading activity.
Development and Community Activity
There appears to be minimal development activity. The token exists as an ERC-20 contract on Ethereum with basic transfer functionality.
Token Distribution
Information about token distribution and founder allocations is limited. The token appears to have been created through a fair launch mechanism, though detailed verification of this is challenging due to limited transparency.
Marketing and Development
The project appears to focus primarily on social media presence and trading activity rather than technical development.
Crypto Impact
To assign a comfort level investing in Bonk on ETH from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Bonk on ETH.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.