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Bonk

$BONK
Bonk (BONK)
BONK
Ticker$BONK
BlockchainSolana
Launch DateDecember 25, 2022
Launch PlatformNative Airdrop
ATH Market Cap$3.5 billion
ATH Price$0.00004547
Current Market Cap~$1.15 billion
Total Supply93.5 trillion BONK
CreatorAnonymous (Dexlab, Helio, Famous Fox Federation)
StatusGraduated
Categories
Dog Community OG
ExchangesBinance, Coinbase, Kraken, OKX, Bybit

Bonk (BONK) is the original Solana dog coin, launched on Christmas Day 2022 as a community gift to help revive the Solana ecosystem after the devastating FTX collapse. It was distributed via a massive airdrop that gave 50% of the supply to Solana NFT collectors, developers, and artists.

Contents
  1. History & Context
  2. The Christmas Airdrop
  3. Impact on Solana
  4. Legacy

History & Context

Bonk emerged during one of the most challenging periods for the Solana ecosystem. In December 2022, following the collapse of FTX and Alameda Research, Solana's native token SOL had plummeted to its lowest valuation in nearly two years (around $8).

The community was demoralized, and many questioned the network's future without the financial backing of Sam Bankman-Fried's ventures. It was in this dark moment that anonymous developers decided to create something positive.

"We were tired of toxic Alameda tokenomics and wanted to create a fun memecoin where everyone gets a fair shot."
— From the Bonkpaper

The Christmas Airdrop

On December 25, 2022, BONK was launched via a massive airdrop that distributed 50% of the total supply to Solana community members:

  • NFT collectors across various Solana collections
  • Active DeFi users on Solana protocols
  • Developers building on Solana
  • Artists in the Solana ecosystem

The token was created by Dexlab, with initial funding supported by Helio. Famous Fox Federation also played a key role in the launch. The team behind Bonk remained anonymous.

Within a week of listing on exchanges (December 30, 2022), BONK grew by over 2,000%.

Impact on Solana

The BONK launch had a measurable positive effect on the Solana ecosystem:

  • SOL recovered from its post-FTX low of $8.29 to closer to $13
  • Renewed community enthusiasm and engagement
  • Drew attention back to Solana's capabilities
  • Set the stage for the Solana memecoin renaissance of 2024
Best Performer of 2023: BONK was the best-performing crypto asset of 2023 based on return percentages, validating its role in Solana's revival.

Legacy

BONK established the template for community-driven memecoins on Solana:

  • No venture capital backing
  • Governed by BonkDAO
  • Deflationary burn mechanism
  • Over 350 on-chain integrations
  • Available across 10 blockchain networks
  • Listed on all major exchanges

BONK paved the way for WIF, Pump.fun, and the entire Solana memecoin explosion that followed.

See Also