In 2022, cryptocurrency investors are painfully recalling that challenging year. Not only are they faced with a complex macroeconomic environment, they are also troubled by the manipulative behavior of some mysterious figures. These unscrupulous behaviors cast a shadow over the entire market and wiped out the market value of many cryptocurrencies. However, when we look back at the FTX incident in November 2022, we find that the situation of Solana (SOL) is particularly confusing. What kind of disturbance caused this encryption giant to be hit hard? All is revealed here!
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However, in December 2022, an unexpected storm occurred on the Solana platform. A meme token called Bonk (BONK) suddenly sprung up in large numbers and was airdropped to the Solana community. This surprising event sparked investor curiosity and led to another boom in Solana infrastructure.
According to the official explanation of the Bonk team, their deployment is aimed at combating "Alameda" token economics, because those tokens with low circulation and high FDV (liquid market value) make it easy to manipulate prices, which not only disrupts the market, but also makes it absolutely impossible. Most investors suffered heavy losses. We still remember that Solana was severely impacted after the FTX thunder incident. The price of SOL currency once plummeted, falling below 10 US dollars, and experienced a severe liquidity run, while its ecological projects also withdrew one after another.
Bonk 的出现就是为了维护 Solana 生态和 SOL 持有者的信心，所以它把 50% 的代币空投给 Solana 上的 NFT 持有者和开发者等，用以唤起 Solana 支持者的热情。
SOL’s price has taken on a new lease of life while BONK sentiment has soared, and it can be called Solana’s savior. It is now nearly one year since the birth of BONK, and at this time it has become active again. Recently, the price of BONK has increased by as much as 150%, surpassing the growth rate of Dogecoin, Shiba Inu, Pepe and Floki Inu. From a market capitalization perspective, Bonk has emerged as the third largest dog-themed meme coin.
Why has $BONK become the target of speculation? What’s so special behind it? Please read below.
What is BONK? What is the goal of BONK?
Bonk, a dog-themed token meme, was created to ignite a new spark in the Solana ecosystem. In December 2022, Bonk was officially launched on the Solana platform, followed by an airdrop of about half of the total token supply. These tokens mainly flow to developers, NFT enthusiasts on Solana, investors, and other key players in the ecosystem. This Bonk carnival is like an ecological renewal, and people are looking forward to what new vitality and creativity it will inject into Solana!
According to official announcements, Bonk issued a total of 100 trillion BONK tokens, 50% of which were airdropped to various heroes in the Solana community. This includes the developers of LamportDAO (LamportDAO is the core team of Solana builders), enthusiastic supporters of NFT projects such as Famous Fox Federation, and even projects that have announced migration to other blockchains, such as DeGods, have quietly received this A generous gift of token rain. This large-scale airdrop of Bonk can be described as an eye-catching feast in the Solana ecosystem, and will inject more vitality and passion into this community!
The specific allocation of airdrops is as follows:
20% of BONK tokens are gifted to Solana NFT collectors, including 297,000 unique NFT artworks;
15% of the rich rewards will be given to early openbook traders;
A generous 10% reward goes to Solana’s outstanding artists and collectors;
And 5% is carefully distributed to Solana developers. And the huge remaining supply is safely locked in the exclusive ownership contracts of BONK contributors.
This Bonk distribution strategy is like a generous feast, providing generous rewards to the diverse participants of the Solana community, while also adding a bright color to the prosperity of the entire ecosystem!
What’s interesting is that when BONK had just announced its unique airdrop strategy, Frank, the founder of DeGods and y00ts, was not optimistic about the project. However, after seeing how BONK inspired the enthusiasm of the community and quickly became a hot topic, Frank stood up without hesitation, solemnly apologized and said that BONK's performance was really incredible, like a vibrant community. He also apologized for his previous negative remarks about BONK, a remarkable change that demonstrates BONK’s appeal as a fascinating project.
The project team resolutely decided to destroy the shares originally planned to be issued, which not only supported the price but also had a huge impact. The impact on SOL was immediate, with its price soaring from $8 to $25 in less than 3 weeks, and the BONK token soaring by more than 2,000%.
The emergence of $BONK is like a breath of fresh air, injecting new vitality into the Solana community and casting a bright light on the haze caused by the FTX incident. It is particularly worth mentioning that in early January this year, when the price of Solana tokens fell to about $8, the craze caused by $BONK not only revitalized Solana users and developers, but also rekindled enthusiasm for the entire ecosystem. This is an eye-catching counterattack, and the surge of $BONK is like a shot in the arm for Solana, making the entire community excited!
Bonk’s main goal is to restore Solana’s important position in the crypto ecosystem, hoping to bring the vibrancy of memes like Dogecoin ($DOGE) and Shiba Inu to Solana. The team behind the token is on a mission to put Solana at the center of the community rather than in the hands of a handful of investors. In doing so, Bonk's developers hope to avoid repeating the FTX story surrounding Solana. This is one of the reasons why Bonk is distributed to a very large number of participants in the Solana ecosystem.
The Bonk team looks to the future and plans to continue to support the development of Solana by creating BONKDAO. As a governance platform, BONKDAO will directly allow the Solana community to participate in infrastructure blockchain development decisions. To support future Solana development, incentive activities, and other key initiatives, a portion of BONK tokens have been reserved. This move is not only a long-term commitment to the Solana ecosystem, but also to build a platform to jointly promote innovation, so that the voice of the community can be given full play to embrace more future possibilities!
Bonk与Dogecoin和Shiba Inu的比较
Dogecoin and Shiba Inu, as the two leading meme coins in the crypto ecosystem, have attracted much attention with their dog-themed coins. Dogecoin was forked from the Litecoin network, while Shiba Inu is built on the Ethereum blockchain. Bonk is the star of the new Solana blockchain. Compared to Ethereum, the Solana blockchain network is faster.
Both DOGE and SHIB have experienced significant market volatility. Amid the hype wave of 2021, the Dogecoin craze started by the world’s richest man, Elon Musk, has intensified. As the father of Doge, Elon Musk has publicly supported the currency many times and even approved Dogecoin as a payment currency at Tesla outlets.
The Shiba Inu project is currently community-driven, and the developers and participants do an excellent job maintaining the project. Shiba Inu isn't just about memes, it's also supported by a vibrant NFT community with active artists and curators.
Bonk’s rise in the crypto ecosystem has also been rapid. It turns out that Bonk is more than just a dog-themed cryptocurrency, it’s a Solana resurgence. As the project developed, more use cases similar to Dogecoin and Shiba Inu were discovered. This makes us look forward to more possibilities for Bonk in the future, provided the community remains active.
Why has $BONK become the target of speculation?
Listed on exchanges, Solana ecosystem is optimistic
Bonk has recently experienced a sharp rise in value, which is not only due to the optimism of the entire cryptocurrency market and the continued price rise, but also due to BONK's successful listing on well-known cryptocurrency exchanges such as Binance and KuCoin. This listing not only became a key factor in Bonk's surge, but also caused its value to skyrocket.
As BONK successfully landed on KuCoin, the platform also jointly launched a reward feast, with financial rewards of up to $58,000 attracting the attention of a large number of users. At the same time, on the stage of An, BONK derivatives contracts also made a grand debut, providing more choices and opportunities for cryptocurrency investors. This is not only a symbol of BONK's emergence in the market, but also brings a rich and colorful trading experience to investors.
In addition, optimism about the Solana ecosystem also makes BONK optimistic. SOL itself is a currency that has performed well this year. The recent series of new features and products have allowed developers and users to see how active the Solana ecosystem is.
For example, the cryptocurrency and NFT wallet "Phantom" has launched a function called "Camera Mint", which allows users to create their own NFT in two seconds using photos on their mobile phones.
In addition, Solana Labs announced the launch of the "GameShift" concatenation system. This tool will handle complex blockchain-related functions behind the scenes. Developers only need to focus on exchanging game design for fun, beautiful, and remaining technical capabilities to transfer games. .
When you are angry, just $BONK SBF
According to the official website, BONK is the first Solana version of Dogecoin for the public. The purpose of BONK is to oppose "Alameda" token economics, such as the deceptive tokens FTT, SRM, OXY, and MAPS launched by Alameda on Solana. etc., all of these have the characteristics of low circulation and high FDV, which makes it easier for them to manipulate prices, not only disrupting the market, but also causing heavy losses to most investors. BONK hopes to create an interesting meme coin so that everyone can get a fair chance and investors will not be subject to similar price manipulation again.
In this sense, community member 0xbustos also created a BONK meme game. The game screen is a Shiba Inu hitting SBF on the head with a baseball bat. You need to spend BONK tokens to start the game. Some community members even added the slogan "Felt angry, bonked Sam again, felt great." (Are you angry? Beat SBF again, it feels great.)
有趣的是，支付越多$BONK，除了能打更多次SBF之外，还能有即时的敲打榜单，当时让社群成员玩疯了，也间接推动了$BONK上涨。
结语
To sum up, I feel that BONK’s meme culture and anti-FTX narrative can resonate with some people. First of all, it can be seen from BONK's economic model that it is a community built with Solana NFT holders as the core, and the community has a certain cultural gene.
However, it is difficult for the transaction volume of meme projects to maintain stable growth over a long period of time. They often become popular quickly and lose popularity quickly based on events, market sentiment, marketing strategies, etc. Whether BONK is long-term enough depends on the continued work of the project team and the test of the market.
最后的最后，还有很多其实都没写进来，比如具体的机会，具体的决策，这些东西往往不是一篇文章能概括的。
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在加密行业你想抓住下一波牛市机会你得有一个优质圈子，大家就能抱团取暖，保持洞察力。如果只是你一个人，四顾茫然，发现一个人都没有，想在这个行业里面坚持下来其实是很难的。
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