BONK Describes Itself As

$BONK is a memecoin on the Solana blockchain. $BONK's introduction into the crypto market was initiated with a significant airdrop to the Solana community on Christmas Day 2022, as a gesture to support the community after a challenging year.

Positioned similarly to other meme coins like Shiba Inu (SHIB) and Dogecoin (DOGE), $BONK is branded as the first dog-themed coin on Solana, emphasizing its community-centric approach. The project has been notable for its rapid adoption, reaching over 400,000 holders and achieving listings on various centralized and decentralized exchanges.

$BONK's strategy focuses on rewarding and revitalizing the Solana ecosystem. This approach includes supporting Solana-based decentralized exchanges (DEXs) with the goal of enhancing liquidity and fostering a comprehensive community coin that integrates across diverse dApps on the Solana blockchain. The airdrop was targeted towards various segments of the Solana community, including NFT collectors, developers, artists, and other active members.

$BONK has a max supply of 100 trillion coins. The token's integration into Solana's ecosystem has been multifaceted, with some projects already incorporating $BONK for NFT payments and offering the opportunity to earn BONK tokens through staking.

The BONK founders and team remain anonymous.

Risks of BONK

Like an investment in other crypto assets, there are some general risks to investing in BONK. These include:  (i) volatility risk and liquidity risk, (ii) short history risk, (iii) demand risk, (iv) forking risk, (v) code defects, (vi) regulatory risk, (vii) electronic trading risk, and (viii) cyber security risk. For additional information of these and other general risks associated with crypto assets and Uphold’s platform, please refer to the Risks Specific to Holding Digital Assets statement.

In addition to these general risks, an investment in BONK is subject to the following specific risks:

• As a ‘memecoin’, BONK is a community project, led by an anonymous team. There is no roadmap, and no funds have been raised for the project’s future development. 
• Any potential success associated with BONK is reliant on the growth of its decentralized community, and their continued trading and enthusiasm for the asset. These factors are difficult to predict, and could result in very high volatility.

We emphasize that this Crypto Asset Statement is not an exhaustive description or summary of all risks associated with BONK. Investors should conduct their own research and perform their own assessment before trading any crypto asset to determine the appropriate level of risk for their personal circumstances.

The BONK community is not under any legal or regulatory obligation to disclose material information to the public regarding its activities. Holders of BONK have no recourse to the BONK community or Uphold if BONK declines in value for any reason.

Changes to applicable law may adversely affect the use, transfer, exchange, or value of any of your crypto assets, and such changes may be sudden and without notice.

Uphold’s Evaluation Process

Prior to listing BONK on the Uphold Platform, Uphold performed due diligence on BONK and determined that BONK is unlikely to be a security or derivative under relevant securities legislation. Uphold’s analysis including reviewing publicly available information on the following: 

• The creation, governance, usage, and design of BONK, including ensuring the source code is open-source, audited and peer reviewed, security, and roadmap for growth in the developer community. 
• The supply, demand, maturity, utility, and liquidity of BONK.
• Any marketing materials put forward by the BONK social team including on, Twitter, Medium blog, LinkedIn posts, Discord and Telegram channels.
• Material technical risks associated with BONK, including any code defects, security breaches and other threats concerning BONK and its supporting blockchain (such as the susceptibility to hacking and impact of forking), or the practices and protocols that apply to them.
• Legal and regulatory risks associated with BONK, including any pending, potential, or prior civil, regulatory, criminal, or enforcement action relating to the issuance, distribution, or use of BONK.

General

Uphold has prepared this Crypto Asset Statement based on publicly available information. Although Uphold has taken steps to obtain information from apparently reliable sources, information contained in this Crypto Asset Statement may be inaccurate, incomplete or out-of-date. This overview is a starting point for you to perform your own research prior to investing in a crypto asset.

Uphold users should read the Risks Specific To Holding Digital Assets statement for additional discussion of general risks associated with crypto assets made available through the Uphold platform.  

Canadian residents, please note that Uphold has filed an application for registration in certain Canadian jurisdictions but has not yet obtained registration. Until such time as Uphold obtains registration, Uphold has agreed to abide by the terms of an undertaking available at the following link. Please also review the Uphold Canada – Crypto Risk Statement for additional discussion of general risks associated with the crypto assets made available through Uphold Platform. Please be aware that statutory rights of action for damages or rescission in section 130.1 of the Securities Act (Ontario) and, if applicable, similar statutory rights under securities legislation in the other provinces and territories of Canada do not apply in respect of this Crypto Asset Statement or other disclosures on the Uphold website and Risks Specific To Holding Digital Assets statement. 

Last updated on November 15, 2023.