Bonk (BONK) is a dog-themed memecoin on the Solana blockchain, launched on December 25, 2022. It was created to re-energize the Solana community after the collapse of FTX.
The project was started by an anonymous group of Solana developers and builders and avoided venture capital backing in favor of community ownership. It describes itself as 'the first Solana dog coin for the people, by the people.'
BONK is an SPL token on Solana, so it inherits the network's fast transactions and low fees. This makes it practical for small transfers, tipping, and payments inside decentralized apps.
Its ecosystem includes the LetsBonk.fun memecoin launchpad, the BonkSwap decentralized exchange, and the BonkBot Telegram trading bot. Several of these products use part of their fees to buy and burn BONK.
Data provided by CoinGecko
The total supply was set at roughly 100 trillion tokens, about half of which was airdropped to Solana community members such as NFT collectors, developers, and artists. The rest was allocated to contributors, marketing, and the DAO, among others.
Governance is handled by BonkDAO through on-chain voting. The community has held several large burn events, including the December 2024 BURNmas campaign that destroyed about 1.69 trillion tokens.
Its broad airdrop distribution, deep integration with the Solana ecosystem, and listings on major exchanges are often cited as reasons for its visibility. Fee-funded burn mechanics also set it apart from many other memecoins.
However, as a memecoin it is highly volatile and strongly driven by community sentiment. In July 2026 a malicious governance proposal drained roughly 20 million dollars worth of tokens from the BonkDAO treasury, highlighting governance security risks.
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