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Bonk (BONK) is a dog-themed cryptocurrency that operates on the Solana blockchain. It was introduced as a community coin, with 50% of its total supply airdropped to the Solana community. BONK shares similarities with other memecoins like Shiba Inu (SHIB) and Dogecoin (DOGE). The primary objective of BONK is to restore liquidity to Solana-based decentralized exchanges (DEXs). It aims to be utilized across all decentralized applications (dApps) built on Solana, providing every user with an opportunity to become part of the ecosystem. BONK was randomly airdropped to Solana NFT collectors, developers, and artists.

BONK operates on the Solana blockchain, which uses a unique combination of Proof-of-History (PoH) and Proof-of-Stake (PoS) consensus mechanisms to enhance throughput and scalability. Solana is a Layer 1 blockchain known for its high performance and speed, capable of processing up to 50,000 transactions per second (TPS) across a network of 200 distinct nodes. BONK's distribution strategy involved airdropping 50% of the total supply to Solana users, including artists, creators, and active community members. The total supply of BONK is nearly 100 trillion coins, with various percentages allocated to team development, marketing, initial liquidity, the Bonk DAO, early contributors, Solana NFT collections, early OpenBook traders, Solana collectors and artists, and Solana developers.

BONK seeks to be a community coin used across all dApps built on Solana. It aims to bring back liquidity to Solana-based DEXs, which could potentially increase the efficiency and effectiveness of these platforms. BONK also strives to be a part of the broader Solana ecosystem, providing opportunities for users to become part of the community. With over 350 on-chain integrations built by the community across various verticals, BONK has the potential to be a versatile and widely used cryptocurrency within the Solana ecosystem.

BONK was launched on December 25, 2022, and trading began on December 30, 2022. The launch of BONK led to a 34% increase in the price of the SOL token within 48 hours. The team behind BONK remains anonymous, and as of January 2023, there is no comprehensive whitepaper available for investors on the official website. Instead, visitors can find a one-pager and a bonk-paper with information about token distribution, integration details, and links to the blockchain explorer - SolScan. Since its listing on various crypto exchanges on December 30, 2022, BONK has grown by over 2,000% in a week, making it one of the best-performing crypto assets based on return percentages for 2023. As of January 2023, there are 56,000,000,000,000 tokens in circulation.