Bonk

Bonk (BONK) is a dog-themed meme token issued on the Solana blockchain. It was launched at the end of 2022 by distributing the bulk of its supply free of charge (an airdrop) to developers, NFT holders and community members in the Solana ecosystem. The token soon became one of the symbols of the Solana community.

There is no blockchain or protocol behind BONK; it is an asset created under Solana's token standard, and its value rests largely on community interest. Even so, many Solana applications have integrated BONK as a payment, reward or in-game unit. Community projects include products such as a Telegram trading bot and a meme token creation platform; some of these have announced that they use part of the income they generate to buy and burn BONK.

Because meme tokens do not rest on any underlying cash flow, their prices are highly sensitive to social media interest, exchange listings, overall activity on the Solana network and sudden shifts in risk appetite. On the Bonk page, Lzzo.com converts the Binance BONK/USDT price into US dollars at Coinbase Exchange's USDT/USD rate; the chart is built from this dollar-based series.