While watching vids on LBRY, I came across a strange new token called “BONK,” (lol). I don’t really know what to make of it. These ERC20 tokens are becoming a dime a dozen, but this one does have a couple of things going for it:
Transparency – For the most part, the website lays out everything in a simple and straightforward fashion. It doesn’t give the impression of trying to conceal anything. The founder, David Busch (who also goes by the moniker “Seal”) is wiling to attach his name to the project. However I couldn’t find much info about him outside the context of this token. I didn’t take a deep dive into his background. He does have a small youtube channel which now seems devoted to BONK.
Incentive to Hold – The token is free to stake, but charges 9% fee when unstaking from the pool. Bonkholders earn dividends for staking tokens, but the percentages aren’t mentioned.
Fun – With a catchy and memorable name, this is one of those tokens that seems like it was created for fun and amusement as much as for profit. Is there room for another fun coin in the spirit of DOGE and TEND? Who knows…but if there is, this one seems like it has decent potential.
As of this writing, BONK is currently hovering at around 19 cents. I personally wouldn’t get in at that price when there are so many other established projects and tokens (like Orchid) that can be obtained for the same price or less. I’m also more of a coin guy than a token guy. I will be keeping an eye on BONK though. I like what I’ve seen so far. The project is still brand new, and I expect you’ll be hearing about it a lot more in the near future.