The present blog deals with the most researched topic in the cryptocurrency world, I.e., BONK. This blog will teach us all the mandatory information required for entering the BONG world. Let’s start our blog.
BONK; The Concept
The most researched question about Bonk is what is Bonk? What is Bonk? Here we are thoroughly answering this question so that you can understand the core idea.
As per the description presented by the one-pager, Bonk is regarded as the first Solana Dog coin on the Solana blockchain. With this digital asset, there was estimated that 50 percent of cryptocurrency was airdropped to the Solana community. It is a currency quite like Dogecoin, Shiba Inu, and other meme coins.
Launch Of Bonk
Bonk got its launch in December 2022. The launch of this platform gives rise to an increase in SOL token price. This increase was estimated to be 34 percent within 48 hours of its release. The launch gets a fair shot. The official trade of this digital asset was initiated in December 2022. The trade of Bonk initiated the interest of the crypto community on an overall basis.
The aim of Bonk contributors behind the invention of Bonk INU is to bring back trading volume and liquidity to the SOL-DEX. The Solana developers crafted a community coin that becomes eligible for all decentralized applications built on the Solana blockchain. All the users in the Solana ecosystem can buy Bonk, increase their market cap, and sell Bonk tokens at the highest price through live Bonk price of the current price. It has the crown of being the only token with the highest price-paid title.
The random airdrop of Bonk to Solana-based NFT collectors, artists, and developers was a great hit. The rest of the details of airdropping is currently unknown. Even though it is regarded as having a minute digital footprint on the internet. Twitter is an exception in this regard. Bonk has an active Twitter account.
The team of developers behind the bonk crafting is anonymous, like many teams of decentralized exchanges. There is no whitepaper for the traders on the official websites. The only source of information regarding BONK is through the Bonk paper and one-pager. These two sources describe the links, integration details, and token distribution related to the SolScan blockchain explorer.
Uniqueness of Bonk
This is one of the valid questions anyone can ask in a row if they want to invest; the platform should have some uniqueness. What is the uniqueness of BONK? Our uniqueness lies in asset distribution. Half of the total sum, which is 50 trillion digital coins, is dedicatedly distributed to the developers and the helping bodies that maintain the platform.
- According to the research report of ORCA, the decentralized exchange, which is built on the Solana blockchain, got a trading volume of 20 million dollars after the airdrop.
- It is also listed among the top popular cryptocurrency exchanges till December 30, 2022. This means that the popularity of Bonk has grown by 2000 percent only in two weeks.
- The currency used for the trade, buying, and selling on the Solana platforms is known to be $BONK, which is a payment option for NFT projects. There is also an option of attaching BONK with NFTs.
Current Coin Circulation of Bonk
The total market cap of Bonk is estimated to be one trillion coins. The current distribution is made in the following pattern:
- Around 5 percent is distributed among the Bonk developers and Bonk contributors.
- Five percent is allocated for marketing purposes.
- Five percent is fixed for liquidity.
- Fifteen percent is distributed to the DAO of Bonk.
- Twenty percent is fixed for the initial investors.
- 40 Solana NFT collections have a 20 percent distribution of BONK.
- Open book traders get 15 percent in distribution.
- Solana collectors and artists get 10 percent of digital coins in distribution.
- Five percent is located to the Solana developers.
POH and POS consensus mechanisms are the basic combinations to secure this Solana-based token known as BONK. POH stands for proof of history, while POS stands for proof of stake. These two combinations are famous for increasing scalability and liquidity. Solana is regarded as a layer one blockchain. This means that Solana offers high-end performing permissionless blockchain with the fastest network in the market. The fastest network and throughput allow the 200 different nodes to process 50 thousand transactions in a single second.
How to Buy Bonk?
This is one of the critical questions about how you can buy Bonk. If you want to buy Bonk, secure platforms should exist for this purpose. You can buy through famous platforms such as HOubi, ByBIt, Bitget ORCA, BitMary, and CoinEX Gate for your greatest delight. IO XT.COM and Hotbit etc. You can also buy Bonk through centralized crypto exchanges. The highest trading volume of Bonk is recorded to be five lacs, 37 thousand, two hundred and 73 recently.