Bonk
Crypto Overview
Overview
Bonk (BONK) is a meme cryptocurrency launched on the Solana blockchain in December 2022. It was created as a community-driven project with the stated purpose of being Solana's first dog-themed memecoin, aiming to unite the Solana community after the FTX collapse.
Intended Utility
The primary intended utility of BONK is to serve as a medium of exchange within the Solana ecosystem and to provide governance rights to token holders. The project aims to foster community engagement and development on Solana.
Actual Utility and Usage
BONK has achieved significant adoption within the Solana ecosystem. It is actively used for trading and has been integrated into various Solana-based applications. The token has established partnerships with multiple Solana projects and is accepted as a payment method by some merchants in the Solana ecosystem.
Token Distribution
The initial token distribution allocated 50% to airdrop recipients across the Solana ecosystem, including NFT collections, creators, and artists. The remaining tokens were distributed to DEX liquidity (5%), marketing (15%), contributors (15%), and future development (15%). This distribution model shows a focus on community ownership rather than founder enrichment.
Development and Activity
The project maintains active development and community engagement through its DAO structure. The team has consistently delivered updates and integrations within the Solana ecosystem. The project's GitHub repositories show ongoing technical development.
Revenue Model
BONK operates primarily through trading activity and does not involve interest-bearing mechanisms or lending protocols. The project generates no direct revenue but derives value from market activity and ecosystem integration.
Crypto Impact
To assign a comfort level investing in Bonk 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.
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.