Bonk ($BONK) Thesis

$BONK is Solana's top dog coin that was airdropped at Christmas 2022 to the people who stayed back on the chain after the FTX collapse.

That airdrop single-handedly revived the Solana trenches. But what the team built after is why $BONK is still the top dog of the chain.

The team started shipping products that run on BONK trades. The first was BONKbot, a Telegram trading bot that takes a 1% fee on every swap, and all of that fee is used to buy $BONK, with part of it burned. So every trader using the bot buys BONK, whatever coin they're actually trading.

Then came BONK.fun, a token launchpad that uses 51% of its fees to buy BONK for Bonk, Inc., a Nasdaq company (BNKK) that holds BONK as its treasury and wants to own 5% of supply. Its casino, BONKplay, also uses up to 10% of fees to buy and burn BONK.

That's the network effect. Every new app that plugs into BONK becomes another buyer, and burns have already removed about 12% of the original supply. The more people use BONK products, the more $BONK gets bought and burned.

So when you buy $BONK, you're not just holding the beloved dog Solana trenchers got for Christmas. You're holding the coin that gets bought every time someone uses a BONK product.