What is BONK and what is its role?

BONK is one of Solana's best-known community tokens. It is community run rather than issued by a company, and it moves through ordinary Solana wallets.

How does BONK work on Solana?

BONK is an SPL token, the token format Solana wallets use. It lives on Solana, not on Ethereum as an ERC-20 token.

What is BONK used for?

BONK works as community money inside Solana. The project says its products include LetsBonk.fun, BonkSwap and BonkBot.

• Tipping: send BONK to creators or friends.
• NFT purchases: some Solana marketplaces accept BONK.
• App and game rewards: some Solana apps hand out BONK.
• Burn campaigns: the BURNmas campaign destroyed BONK tokens in December 2024.

Who created BONK and why?

BONK launched on Christmas Day 2022, after the collapse of FTX had shaken Solana users. The creators gave tokens away instead of selling them first, through an airdrop that reached NFT collectors, developers and artists.

The project is not an official product of Solana Labs or the Solana Foundation.

What are BONK's risks and differences?

BONK differs from Dogecoin and Shiba Inu because it began on Solana and reached people through a community airdrop. Like other meme coins, it pays no earnings, so hype and holder mood drive its value. US regulators have said a coin sold to buyers who expect profits from other people's work can fall under securities law. The project says its team is anonymous and urges caution.

Written byVahe HakobyanVahe Hakobyan is the editor-in-chief of World-Crypt. He covers bitcoin, markets and regulation, and leads the newsroom that fact-checks every story before it goes live.