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, similar to what Dogecoin is for Bitcoin and Shiba Inu for Ethereum.
Intended Utility
The primary stated purpose of BONK is to serve as a community token within the Solana ecosystem. The project claims to focus on fair distribution and community engagement, with 50% of the total supply airdropped to Solana NFT collections, artists, and developers.
Actual Utility and Usage
BONK has achieved significant adoption within the Solana ecosystem, being integrated into various decentralized applications (dApps) and NFT marketplaces. The token is actively traded on major cryptocurrency exchanges and has garnered substantial trading volume.
Token Distribution
The initial token distribution was relatively fair, with 50% allocated to the Solana community through airdrops. The remaining allocation includes: 5% to Solana NFT collections, 10% to artists and collectors, 15% to early contributors, and 20% to DEX liquidity. A significant portion of tokens was burned post-launch to reduce supply.
Development Activity
While BONK began as a meme token, it has developed some practical applications within the Solana ecosystem, including integration with various DeFi protocols and NFT platforms. However, the primary use case remains trading and speculation.
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.