Bonk (BONK) is a memecoin launched on the Solana blockchain that gained widespread popularity following its community-driven airdrop and rapid rise as a cultural symbol within the Solana ecosystem. Introduced in late December 2022, $BONK quickly became a defining token of Solana’s revival during a period of uncertainty, following the collapse of major centralized exchanges. Often referred to as the “Dogecoin of Solana,” BONK grew from a grassroots meme initiative into a multi-million-dollar project, powering decentralized applications (dApps), NFT integrations, and collaborations across Web3.

Launch and Airdrop
$BONK was launched on December 25, 2022, as a community-focused token designed to reward the Solana ecosystem’s loyal supporters. Unlike most memecoin projects, BONK’s distribution model prioritized fairness and community ownership:

50% of the total supply (50 trillion BONK) was airdropped for free to various Solana users, including NFT holders, developers, and traders.

A significant portion went to NFT communities, such as DeGods, y00ts, and other leading Solana collections, fostering rapid adoption.

The team behind BONK, who chose to remain pseudonymous, emphasized decentralization by ensuring that no single entity had control over a large portion of the tokens.

The airdrop went viral on Twitter (now X), with crypto influencers, traders, and KOLs showcasing their BONK holdings. Within days, BONK trading volume surged across decentralized exchanges (DEXs), briefly outshining other Solana-based tokens.

Adoption and Ecosystem Growth
Following its launch, BONK became the default "meme currency" of Solana, with integrations across multiple platforms:

Decentralized exchanges (DEXs): BONK was quickly listed on major Solana DEXs like Orca, Raydium, and Jupiter.

NFT marketplaces: Projects began accepting BONK for minting fees and secondary market trades.

Burn and staking mechanisms: To maintain scarcity, BONK introduced token burns and incentivized staking.

Merchandise and physical adoption: Community-driven initiatives, including BONK-branded merchandise and real-world products, expanded the token’s presence outside the crypto space.

The token’s playful branding and canine mascot (similar to Dogecoin’s Shiba Inu) resonated strongly with retail investors. It established BONK as not just a meme but also a cultural icon of the Solana ecosystem.

Rise to Prominence
By early 2023, BONK’s trading volume skyrocketed, and its market capitalization reached hundreds of millions of dollars. This rise was partially fueled by:

Solana’s resurgence after the FTX fallout. BONK became a symbol of decentralization and community-driven recovery.

High-profile endorsements from Solana developers, NFT founders, and Web3 influencers.

Partnerships with DeFi and NFT platforms, which accepted BONK as payment or integrated it into liquidity pools.

The success of BONK contributed to renewed interest in the Solana blockchain and helped attract developers and investors back to the ecosystem.

Expansion into a Company
As the token’s popularity grew, the BONK team expanded its roadmap, transitioning from a simple memecoin into a fully-fledged company and ecosystem brand:

dApps and utilities: BONK Labs, a development hub, was established to create applications and tools powered by BONK, including payment solutions and NFT integrations.

Corporate partnerships: BONK partnered with Web3 projects and payment processors to increase its utility.

Philanthropy and community funds: Portions of BONK’s treasury were allocated for Solana ecosystem grants and charitable initiatives.

By 2024, BONK had evolved from a viral meme into a major Web3 brand, comparable to Dogecoin and Shiba Inu in cultural impact.

Criticism and Challenges
Like many memecoins, BONK faced skepticism for its speculative nature and lack of intrinsic value. Critics questioned whether BONK’s success was sustainable or merely a short-lived hype cycle. However, its strong community backing and active development have helped it remain relevant.

$BONK Token

LetsBonk.fun is a memecoin launchpad platform built on the Solana blockchain, launched in April 2025 in partnership with the Bonk (BONK) community and Raydium, a leading decentralized exchange (DEX) on Solana. Designed to democratize token creation, LetsBonk.fun allows users to launch memecoins with minimal technical expertise, leveraging Solana’s high-speed, low-cost transactions. The platform has emerged as a major competitor to Pump.fun, briefly surpassing it as the leading Solana memecoin launchpad in July 2025 with a 55% market share and over $1 million in daily revenue. LetsBonk.fun aims to foster community-driven token projects while promoting transparency and sustainability within the Solana ecosystem.HistoryLetsBonk.fun was launched on April 25, 2025, as a collaborative effort between the Bonk community, known for its dog-themed memecoin $BONK, and Raydium, a Solana-based DEX. The platform was introduced to capitalize on the growing popularity of memecoins on Solana, which saw a market capitalization of $14.5 billion in June 2025. The launch followed Raydium’s introduction of its own LaunchLab platform, with LetsBonk.fun built on top of LaunchLab’s infrastructure to enhance accessibility for memecoin creators.

Within its first 24 hours, LetsBonk.fun attracted approximately 800,000 visitors and facilitated the creation of over 2,700 tokens, with more than 70 successfully launched. The platform’s namesake token, $LetsBONK, achieved a market cap of over $30 million within six hours of its debut. By July 6, 2025, LetsBonk.fun surpassed Pump.fun in 24-hour token launches, graduations, and trading volume, generating $1.04 million in revenue compared to Pump.fun’s $533,412, marking a significant shift in the Solana memecoin landscape.

Platform Mechanics: LetsBonk.fun enables users to create and launch memecoins without coding expertise. The process involves:Token Creation: Users connect a Solana wallet (e.g., Phantom or Solflare), specify token details (name, symbol, supply), and customize settings like liquidity and taxes.

Liquidity Integration: Tokens are instantly integrated with Raydium’s liquidity pools, ensuring tradability without migration fees. Liquidity is locked or burned post-launch to prevent rug pulls, enhancing investor trust.

Fee Structure: A small fee in $BONK is charged for token creation, with half of the platform’s fee revenue used to buy back and burn $BONK tokens, reducing supply and supporting the token’s value.

Community Incentives: LetsBonk.fun features a “LaunchLab Prize Pool” with rewards like 50,000 $RAY tokens, encouraging community participation through referral and fee-sharing programs.

The platform uses bonding curves for price discovery, where token prices increase with purchases and decrease with sales, similar to Pump.fun’s model. This mechanism encourages organic community hype and supports rapid token launches, aligning with Solana’s high-throughput capabilities.

Role in the Solana EcosystemLetsBonk.fun has significantly influenced the Solana memecoin ecosystem, which accounts for 81% of DEX transactions on the network. Its integration with Raydium and alignment with the Bonk community, which has over 430,000 followers on X, has driven substantial trading activity. The platform’s launch coincided with a 52% increase in $BONK’s value, reflecting its impact on the token’s market performance.

The platform’s success is attributed to its community-driven approach and strategic reinvestment of profits. By using 50% of its fee revenue to burn $BONK, LetsBonk.fun employs supply control to reduce circulating supply, potentially increasing token value and fostering sustainability. This aligns with broader Solana memecoin trends, where token burns and liquidity locks are common to build trust and manage supply dynamics.

Additionally, LetsBonk.fun facilitates bundling in the form of coordinated community buying and promotional campaigns, often led by KOLs like @theunipcs
 or @0xRamonos
, who amplify token launches through X posts. Such bundling drives short-term price spikes but raises concerns about volatility, as noted in Reddit discussions about memecoin market manipulation.

ControversiesLetsBonk.fun operates in the highly speculative memecoin market, where platforms like Pump.fun have faced criticism for enabling rug pulls and user losses. While LetsBonk.fun mitigates this through liquidity locking and token burns, the broader memecoin sector remains risky, with 86% of KOL-promoted tokens losing 90% of their value within three months. Some analysts question whether LetsBonk.fun’s similarities to Raydium’s LaunchLab indicate a rebranding rather than a distinct platform, though its partnership with BONK sets it apart.

X posts have highlighted competitive tensions, with users like @Alek_Carter
 noting LetsBonk.fun’s 49.8–55% market share over Pump.fun in July 2025. Critics argue that the platform’s rapid token creation fuels market saturation, potentially overwhelming investors and diluting quality.

Impact and LegacyLetsBonk.fun has redefined the Solana memecoin launchpad landscape by challenging Pump.fun’s dominance and emphasizing community-driven innovation. Its partnership with Raydium and BONK has strengthened Solana’s DeFi ecosystem, driving $11.23 billion in memecoin market capitalization by July 2025. The platform’s focus on accessibility, with token launches costing as little as a small $BONK fee, aligns with Solana’s ethos of low-cost, scalable transactions.

The platform’s use of supply control through $BONK burns and liquidity locks sets a precedent for sustainable tokenomics, while its community engagement fosters viral adoption, as seen in the rapid success of $LetsBONK. However, its reliance on hype-driven bundling and KOL promotion underscores the speculative risks of memecoins, as warned in community discussions on r/solana.

As of July 2025, LetsBonk.fun remains a leading force in Solana’s memecoin ecosystem, with its success tied to the broader growth of $BONK and Solana’s DeFi infrastructure. Its legacy will depend on its ability to balance accessibility with measures to prevent scams and ensure long-term value for token holders.



Letsbonk.fun

Solana is a high-performance, open-source Layer 1 blockchain platform designed to support decentralized applications (dApps), smart contracts, and decentralized finance (DeFi) with exceptional speed, scalability, and low transaction costs. Launched in March 2020 by Solana Labs, founded by Anatoly Yakovenko, Raj Gokal, Greg Fitzgerald, and Stephen Akridge, Solana uses a unique hybrid consensus mechanism combining Proof of History (PoH) and Proof of Stake (PoS) to achieve theoretical transaction throughput of up to 65,000 transactions per second (TPS) at an average cost of $0.00025 per transaction. Its native cryptocurrency, SOL, powers network fees, staking, and governance. Solana has become a leading platform for memecoins, DeFi, and non-fungible tokens (NFTs), with a market capitalization of $84.5 billion for SOL as of July 2025, ranking it among the top cryptocurrencies globally.

History: Solana was conceptualized in 2017 by Anatoly Yakovenko, a former Qualcomm engineer, to address scalability limitations in blockchains like Bitcoin and Ethereum, which struggled with low TPS and high fees. Initially named “Loom,” the project was rebranded to Solana to avoid confusion with an Ethereum-based project. The Solana mainnet beta launched on March 16, 2020, following private token sales in 2019 that raised $20 million and a $314 million sale in June 2021 led by Andreessen Horowitz and Polychain Capital.

The platform gained traction during the 2021 crypto bull run, driven by interest in NFTs and DeFi, with SOL’s market cap peaking at $74 billion in November 2021. However, the 2022 FTX and Alameda Research collapse, where Alameda held $982 million in SOL, led to a 40% price drop in one day and a market cap decline to $3 billion by year-end. Solana rebounded in 2023–2025, with SOL reaching an all-time high of $264 in November 2024, fueled by ecosystem growth and a 150% year-to-date gain. As of July 2025, SOL trades at $181.76 with a 24-hour trading volume of $5.97 billion.

Technical Architecture: Solana’s architecture is designed for scalability, security, and decentralization, addressing the blockchain trilemma. Its key innovations include:Proof of History (PoH): A cryptographic clock that timestamps transactions using a sequential SHA-256 hashing function, creating a verifiable order of events without requiring validators to synchronize clocks. This reduces communication overhead, enabling high TPS.

Proof of Stake (PoS) with Tower BFT: A delegated PoS variant where validators stake SOL to secure the network and vote on transaction order, with Tower Byzantine Fault Tolerance (BFT) optimizing consensus for sub-second finality (400 milliseconds).

Gulf Stream: Minimizes mempool usage by forwarding transactions to validators before block confirmation, reducing latency.

Sealevel: Enables parallel smart contract execution, processing multiple contracts simultaneously.

Turbine: Breaks data into smaller packets for faster propagation across the network.

These features allow Solana to process 3,700 TPS in real-world conditions, with a theoretical maximum of 710,000 TPS on a standard gigabit network and 28.4 million TPS on a 40-gigabit network, far surpassing Ethereum’s 15 TPS and Bitcoin’s 7 TPS. Transaction fees average $0.0025, making Solana attractive for high-volume applications like memecoin trading and DeFi.

Ecosystem: Solana supports a diverse ecosystem of over 350 dApps across DeFi, NFTs, gaming, and memecoins, with 81% of Solana’s DEX transactions dominating the blockchain’s activity. Key projects include:DeFi: Platforms like Jupiter, Raydium, and Serum offer token swaps, liquidity provision, and yield farming. Solana’s low fees and high throughput make it ideal for real-time trading.

NFTs: Marketplaces like Magic Eden and Metaplex host Solana-based NFT projects, with the Degenerate Ape Academy being the first major NFT launch in 2021.

Memecoins: Solana is a hub for memecoins like Bonk (BONK), Dogwifhat (WIF), and Popcat (POPCAT), with launchpads like LetsBonk.fun and Pump.fun facilitating token creation. LetsBonk.fun, launched in April 2025, briefly surpassed Pump.fun with a 55% market share and $1.04 million in daily revenue by July 2025, using $BONK burns and liquidity locks to manage supply.

Payments and Real-World Integration: Solana Pay, integrated with Shopify, enables stablecoin and memecoin transactions for millions of businesses. Visa expanded USDC settlement on Solana in 2023, and Franklin Templeton’s FOBXX fund operates on Solana’s BENJI platform.

Web3 and Gaming: Projects like Helium (DePIN) and the Saga Web3 smartphone (launched 2023) leverage Solana’s infrastructure, though the Saga faced criticism for its $1,000 price tag.

The Solana ecosystem accounts for the #2 largest total value locked (TVL) among blockchains, driven by its vibrant developer community and tools like the Solana Program Library (SPL) for token creation and Solang, a compiler for Ethereum-compatible smart contracts.

Bundling and Supply Control in MemecoinsSolana’s memecoin ecosystem, valued at $14.5 billion in June 2025, heavily utilizes bundling and supply control strategies. Bundling involves coordinated buying by KOLs (e.g., @0xRamonos
, @theunipcs
) to create price spikes, often amplified through X posts and Telegram groups to drive FOMO. Launchpads like LetsBonk.fun facilitate bundling by enabling rapid token launches with concentrated liquidity, as seen with $USELESS, which ranked among Solana’s top 10 traded assets in May 2025. Supply control is achieved through token burns (e.g., 50% of LetsBonk.fun’s fees burn $BONK) and liquidity locking to prevent rug pulls, stabilizing prices and building trust. However, these practices raise concerns about manipulation, as 86% of KOL-promoted memecoins lose 90% of their value within three months.

Controversies: Solana has faced several challenges:Network Outages: The blockchain experienced outages in September 2021 (17 hours), May 2022 (7 hours), and October 2022 (6 hours) due to transaction surges, bots, and consensus bugs, impacting its reliability.

FTX Collapse: Solana’s ties to FTX and Alameda Research led to a $50 billion market cap loss in 2022, as Alameda’s SOL holdings were liquidated.

Regulatory Scrutiny: A 2022 class action lawsuit accused Solana Labs of selling unregistered securities and misrepresenting SOL’s circulating supply, with founder Anatoly Yakovenko allegedly lending 11.3 million tokens to a market maker in April 2020 without disclosure. The SEC also claimed SOL is a security, leading to a 30% price drop on June 11, 2023, after exchanges like Robinhood delisted it.

Centralization Concerns: Critics argue Solana’s reliance on a small validator community and high-performance hardware compromises decentralization, though upgrades like Firedancer aim to improve validator diversity.

Impact and LegacySolana has established itself as a leading blockchain for DeFi, NFTs, and memecoins, often called an “Ethereum killer” for its speed and low costs. Its ecosystem supports real-world applications, from tokenized real estate (e.g., Homebase) to charitable donations via The Giving Block, processing $3.6 million in SOL-based donations in 2025. The platform’s memecoin dominance, driven by launchpads like LetsBonk.fun, has made it a hub for speculative trading, with KOLs like @SolportTom
shaping market trends.

Despite outages and regulatory hurdles, Solana’s innovations, such as PoH and Tower BFT, have set a benchmark for blockchain scalability. Its mobile-first strategy, developer-friendly tools, and integrations with major players like Visa position it for continued growth. As of July 2025, Solana’s ecosystem thrives with events like “Onchain Holiday” and developer conferences like Solana Accelerate, reinforcing its role as a “silicon valley of the internet” for capital formation and innovation.



Solana

### Key Points
- Useless Coin (USELESS) is a cryptocurrency launched in early May 2025, known for its satirical "zero utility" branding, operating mainly on the Solana blockchain.
- It seems likely that it gained popularity through meme culture and community support, with a notable bridge to the BNB Chain in July 2025 using Chainlink CCIP.
- Research suggests its market cap was around $328 million in July 2025, with significant trading volume, though prices can be volatile.

### Overview
Useless Coin, or USELESS, is a unique cryptocurrency that markets itself as having no practical use, focusing instead on community vibes and satire. Launched in early May 2025 on the Solana blockchain, it quickly gained attention for its humorous approach, appealing to meme coin enthusiasts. In July 2025, it expanded by bridging to the BNB Chain via Chainlink's Cross-Chain Interoperability Protocol (CCIP), enhancing its trading opportunities.

### Technical Details
It operates on Solana with a mint address of Dz9mQ9NzkBcCsuGPFJ3r1bS4wgqKMHBPiVuniW8Mbonk, and has a total supply of 1,000,000,000 tokens, with about 999,940,000 in circulation. It lacks traditional features like staking or governance, aligning with its "useless" identity.

### Market Performance
As of July 2025, evidence leans toward a market cap of approximately $328 million, with a 24-hour trading volume of $45 million. It reached an all-time high of $0.3805 on July 17, 2025, and is traded on various exchanges, showing significant volatility.

### Community and Impact
The project has a strong presence on social media, particularly X (@theuselesscoin), and its community-driven nature has been key to its appeal, especially after the BNB Chain bridge announcement.

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### Comprehensive Analysis of Useless Coin

This section provides a detailed examination of Useless Coin (USELESS), a cryptocurrency that has carved a niche in the crypto space through its satirical and meme-driven approach. The following analysis is based on available data from reputable sources, including cryptocurrency tracking platforms, official websites, and social media announcements, as of 04:42 PM CEST on Monday, July 21, 2025.

#### Introduction and Background
Useless Coin, identified by the symbol USELESS, is a cryptocurrency launched in early May 2025, primarily operating on the Solana blockchain. It is notable for its self-proclaimed lack of utility, positioning itself as "the world's first cryptocurrency designed to do absolutely nothing," with a focus on "zero utility, zero purpose, 100% vibes." This satirical branding distinguishes it from traditional cryptocurrencies that emphasize technological innovation or financial utility, instead appealing to a niche audience through humor and community engagement. The project's official website, theuselesscoin.com, describes it as "the most honest crypto project ever created," reinforcing its unique identity.

#### Historical Development
Useless Coin was introduced via the LetsBONK.fun platform, a launchpad within the Solana ecosystem, in early May 2025. Its initial hype was bolstered by prominent community members, including @theunipcs (known as Bonkguy) and @Solporttom, the platform founder, which contributed to its rapid adoption among meme coin enthusiasts. The project gained further visibility in July 2025 when it announced a bridge to the BNB Chain, facilitated by Chainlink's Cross-Chain Interoperability Protocol (CCIP). This development, announced on July 17, 2025, via X (@theuselesscoin), expanded its liquidity and trading opportunities, marking a significant milestone in its growth. The bridge was highlighted in news reports, such as those from Coinlive and Aicoin, emphasizing its cross-chain accessibility.

#### Concept and Philosophy
The core philosophy of Useless Coin is encapsulated in its tagline: "Zero utility, zero purpose, 100% vibes." It openly rejects conventional expectations of cryptocurrency projects, such as delivering technological advancements or financial applications. Instead, it embraces a humorous and transparent approach, appealing to a community that appreciates irony and the social aspects of digital assets. The project operates on a "Proof of No Work" consensus mechanism, a playful critique of traditional blockchain models like Proof of Work or Proof of Stake, and claims to be "secured by absolutely nothing." It lacks staking mechanisms, governance structures, or revenue generation outside liquidity fees, making it a purely speculative asset driven by meme culture and community engagement.

#### Technical Specifications
Useless Coin operates primarily on the Solana blockchain, with its mint address (equivalent to a contract address in other blockchains) being Dz9mQ9NzkBcCsuGPFJ3r1bS4wgqKMHBPiVuniW8Mbonk, as confirmed by trading platforms like GeckoTerminal and Phantom. In July 2025, it was bridged to the BNB Chain via Chainlink CCIP, allowing for cross-chain trading. The total supply is 1,000,000,000 USELESS tokens, with a circulating supply of approximately 999,940,000, as reported by sources like CoinGecko and CoinMarketCap. The project does not support traditional utility features, such as smart contracts for decentralized applications (dApps) or decentralized finance (DeFi) integrations, aligning with its "useless" branding.

| Technical Detail        | Value                     |
|-----------------------------|-------------------------------|
| Blockchain                  | Solana (initial), BNB Chain (bridged) |
| Mint Address (Solana)       | Dz9mQ9NzkBcCsuGPFJ3r1bS4wgqKMHBPiVuniW8Mbonk |
| Total Supply                | 1,000,000,000 USELESS         |
| Circulating Supply          | ~999,940,000 USELESS          |
| Holders (as of July 2025)   | 24,731                        |
| 24-Hour Trading Volume      | $45,086,959 (July 2025)       |

#### Market Performance and Trading
As of July 2025, Useless Coin had a market capitalization of approximately $328 million, with a 24-hour trading volume of $45,086,959, according to CoinGecko. It reached an all-time high of $0.3805 on July 17, 2025, shortly after the BNB Chain bridge announcement, and an all-time low of $0.005200 on June 5, 2025, reflecting significant volatility typical of meme coins. The token is traded on various centralized (CEX) and decentralized (DEX) exchanges, including Raydium, MEXC, Phantom, and Jupiter, with price ranges in July 2025 showing a 24-hour high of $0.3281 and a low of $0.2495 on certain days. Despite its satirical nature, Useless Coin has outperformed many "serious" cryptocurrencies, driven by community-driven speculative trading and meme appeal.

| Market Metric          | Value (July 2025)         |
|----------------------------|-------------------------------|
| Market Cap                 | $328,551,500                  |
| 24-Hour Trading Volume     | $45,086,959                   |
| All-Time High              | $0.3805 (Jul 17, 2025)        |
| All-Time Low               | $0.005200 (Jun 05, 2025)      |
| 24-Hour Price Range        | $0.2427–$0.3281               |

#### Community Engagement and Social Impact
Useless Coin has cultivated a dedicated community, particularly on social media, with an active presence on X under the handle @theuselesscoin. Its community-driven nature is reflected in its branding and the lack of traditional utility, resonating with meme coin enthusiasts. The bridging to BNB Chain via Chainlink CCIP was a notable event, increasing its visibility and trading opportunities, as evidenced by posts from community members like @theunipcs, who highlighted arbitrage opportunities. The project's transparency about its lack of utility has been a key factor in its appeal, positioning it as a counterpoint to overhyped blockchain projects, and it has attracted over 24,731 holders as of July 2025, according to Phantom data.

#### Supporting Sources
The information presented is drawn from the following sources, accessed and verified for accuracy:
- CoinGecko - Useless Coin
- CoinMarketCap - Useless Coin
- GeckoTerminal - USELESS/SOL
- Phantom - USELESS COIN
- Useless Coin Official Website
- X Post - Useless Coin Chainlink CCIP Bridge Announcement

This comprehensive analysis ensures a thorough understanding of Useless Coin's position in the cryptocurrency landscape, reflecting its unique approach and community-driven growth as of July 2025.

Articles in: Projects