What is Bonk How does it work?

What is Bonk How does it work
What is Bonk? How does it work?

Bonk (BONK) is a meme coin launched with the aim of increasing liquidity on the Solana blockchain and sharing the created value with the Solana community. Similar to dog-themed meme coins called Dogecoin and Shiba Inu, the Bonk meme coin is based on a dog-themed design. Bonk (BONK) is the first dog-themed meme coin on the Solana blockchain.

Bonk (BONK) emphasized that Bonk belongs to the Solana community by using the slogan "for the people and by the people", which can be translated as "For the community, by the community". Bonk differs from other conventional meme coins thanks to its integration with various web3 applications and blockchains, especially decentralized finance (Defi) applications. Bonk's roadmap is based on increasing existing integrations.

Bonk (BONK) was developed by DexLab. There are also individual anonymous developers.

Bonk (BONK) is an SPL (Solana Program Library) based token running on the Solana network. Bonk works on Proof of History and Proof of Stake consensus mechanisms.

BONK's total supply is limited to 100,000,000,000,000 units.

BONK distributed 50% of its total supply to the Solana community free of charge on the date it started operations in December 2022.