We are thrilled to share that Bonk (BONK) is now listed on Coinhako.
What is BONK?
Bonk is a memecoin that has gained significant traction in the cryptocurrency market, particularly within the Solana ecosystem. Its meme culture and community engagement have attracted a large following, propelling its price to impressive heights.
The identity of the founder or founders of Bonk remains unknown, as the project was launched anonymously. The team behind Bonk has maintained this anonymity throughout its existence, opting to focus on the development and promotion of the project rather than personal publicity.
As of 26 March 2024, there is a max supply of 93,526,170,019,115 BONK and reached $0.00003771 at its peak.
🚀 View BONK prices on Coinhako now
How does BONK work?
Bonk use a redistribution mechanism to encourage holding and participation — a portion of the fees is shared among all BONK holders when a transaction occurs on the Bonk network. This incentivizes users to hold onto their tokens, as they receive passive income that can be reinvested or withdrawn to fiat currency.
When a user trades BONK tokens on a Solana-based exchange, a portion of the transaction fee goes to all BONK holders. This distribution occurs automatically, and users do not need to take any action to receive their share of the fees. The redistributed fees go to the user’s BONK wallet.
Why does BONK stand out?
Meme Culture: Bonk is known for its thriving meme culture, which promotes a strong sense of belonging among its community members and has helped attract new investors to the project.
Redistribution Mechanism: Bonk’s redistribution mechanism rewards holders with a portion of transaction fees to encourage holding and participation in the community.
Community Governance: Bonk has a decentralized governance structure that allows the community to vote for its future development and foster a sense of ownership and engagement.
Solana Integration: Bonk operates on the Solana blockchain, leveraging its high transaction speeds and low fees to facilitate token transfers and interactions.
What is a Memecoin?
A memecoin is a type of cryptocurrency that is inspired by or based on internet memes, popular culture references, or jokes. Memecoins often have playful or humorous branding and marketing strategies, leveraging the viral nature of memes to attract attention and build a community of supporters. These coins may also serve as a form of digital collectibles, with unique designs or themes that appeal to meme enthusiasts.
Some examples of popular Memecoins that are already on Coinhako include:
1. Pepe (PEPE): A cryptocurrency which pays homage to the well-known Pepe the Frog meme. It has served in popularity since its introduction in April 2023 and sits at a market capitalization of over $2.9 billion at this time of writing.
2. Dogecoin (DOGE): Originally started as a joke based on the popular "Doge" meme featuring a Shiba Inu dog, Dogecoin has gained a strong following and community support over the years.
3. Floki (FLOKI): Inspired by Elon Musk’s tweet, FLOKI is another meme-based cryptocurrency that features the a dog in its branding and marketing.
What can you do with BONK on Coinhako?
BONK will be available for users to trade across all swap pairs on Coinhako.
To gain access to any of these trading pairs, you can either:
- Fund your SGD wallet on Coinhako instantly with PayNow (or any other supported payment methods)
- Purchase BONK instantly with Visa / Mastercard
Please note that the sending and receiving of BONK will not be available for this release.
Risk Warning on Digital Payment Token Services
Hako Technology Pte Ltd ("Coinhako") is licensed to provide digital payment token services under the Payment Services Act 2019 (No. 2 of 2019).
The Monetary Authority of Singapore ("MAS") requires us to provide this risk warning to you as a customer of a digital payment token ("DPT") service provider.
Before you pay your DPT service provider any money or DPT, you should be aware of the following.
- Your DPT service provider is licensed by MAS to provide DPT services. Please note that this does not mean you will be able to recover all the money or DPTs you paid to your DPT service provider if your DPT service provider’s business fails.
- You should not transact in the DPT if you are not familiar with this DPT. This includes how the DPT is created, and how the DPT you intend to transact is transferred or held by your DPT service provider.
- You should be aware that the value of DPTs may fluctuate greatly. You should buy DPTs only if you are prepared to accept the risk of losing all of the money you put into such tokens.
- You should be aware that your DPT service provider, as part of its licence to provide DPT services, may offer services related to DPTs which are promoted as having a stable value, commonly known as “stablecoin”.
Visit: Coinhako.com/risk-disclosure for more information.