Bonk (BONK) is a leading memecoin deployed on Solana inspired by the meme of the Shiba Inu dog. It has been one of the most successful meme tokens of the year, with its market capitulation reaching an all-time high of $2.7 billion in May.
Over the months, BONK has appeared to solidify its position as one of the most recognizable meme coins, alongside Dogecoin (DOGE), Shiba Inu (SHIB), and Dogwifhat (WIF).
Back in December 2022, Bonk’s developers announced an airdrop event for the Solana community. 50% of the BONK token’s entire supply was donated to active Solana users. This strategy encouraged widespread ownership of SOL and transactional activity on the Solana blockchain.
Cut to 2024 and meme coins continue to dominate both the Solana network and the wider crypto market. Unlike other cryptocurrencies, which have specific utility functions, BONK is driven by community engagement, hype, and online culture.
Let us take a look at how you participate in the BONK airdrop, find out who is eligible, whether it is free, and when the token will be listed on major crypto exchanges.
Is The BONK Airdrop Legit And Who Is Eligible?
Since the deadline for the wallet snapshot for BONK airdrop has already passed, no new users will be able to claim BONK via the token distribution event. The tokens are now available on major crypto exchanges.
If you happen to see any links promoting BONK airdrops, they are most likely to be scams. Do not interact with these links as you may risk losing your assets.
What Has Been The Impact of BONK Airdrop on Solana?
The popularity of BONK helped boost transaction activity on the Solana blockchain. There was a significant increase in trading activity on the network following BONK’s listing on major centralized exchanges such as Coinbase in December and Robinhood in March.
Coinbase listing alone helped propel BONK’s price by 50%, increasing transactions on the Solana mainnet. BONK’s trading volume on the blockchain significantly exceeded those of other meme coins, showcasing its supremacy and boosting overall network activity.
BONK Tokenomics
BONK has a maximum supply of 10 trillion tokens. As we mentioned before, 50% of the supply is reserved for community holders who interacted with NFT projects, early contributors, and DeFi traders via the BONK airdrop.
Here is a breakdown of the token distribution:
- 21% for NFT projects on Solana
- 15.8% for market participants and DeFi users
- 10.5% for NFT artists and collection on Solana
- 5.3% for Solana developers
- 21% for early contributors
- 15.8% for the BONK decentralized autonomous organization (DAO)
- 5.3% for initial market liquidity
- 5.3% for marketing
BONK Use Cases
Here are some use cases for the BONK token:
- It hosts a decentralized exchange within the Solana network called BonkSwap where users can swap, stake, and provide liquidity using BONK tokens.
- The Bonk Rewards system allows users to lock their BONK holdings to receive rewards from the transaction fees collected by the Bonk ecosystem.
- Moonwalk allows Bonk users to gamify their walking. Meaning they can earn BONK as they complete daily walking goals.
- BONK Bot is a Telegram bot that allows users to manage their trading positions. It has an automated buying mechanism, and the fees paid to the bot go to a BONK buyback and burn program.
When Is BONK Getting Listed On Exchanges?
BONK was first listed on the Coinbase crypto exchange following the completion of its first Airdrop in December 2023.
The Solana-based meme token can be purchased from the following crypto exchanges:
- Binance
- Coinbase
- OKX
- Meteora
- ByBit
- Kraken
- Orca
- Gate.io
- HTX
Final Thoughts
BONK has been one of the largest meme token launches on the Solana blockchain. The dog-inspired meme cryptocurrency has taken the market by storm and helped install Solana among the most popular and in-demand blockchains.
Recently, there have been campaigns promoting an airdrop for BONK. But these are fake and orchestrated by scammers who are on the hunt for their next unsuspecting victim. BONK’s airdrop event came to an end late last year and the token is now available to purchase and trade on major cryptocurrency exchanges.
Read more: How to Claim Eclipse Labs Testnet Airdrop; Benefits, Eligibility & Launch Date.
