BonkSwap Explodes Onto The Scene: How Dog-Themed DEX Plans To Crush DOGE, SHIB

Bonk Inu BONK/USD developers have launched their dog-inspired protocol's native decentralized exchange (DEX), BonkSwap, in a significant development for the widely followed token.

Powered by Solana SOL/USD smart contracts, BonkSwap will enable users to trade Solana, Bonk Inu and stablecoins.

Most fees (80%) on BonkSwap will be allocated to reward liquidity providers and locked stakers of Bonk and BonkSwap LP positions, potentially increasing value for BONK holders.

The developers plan to introduce additional features in the coming months, such as a BONK-based game and futures offerings on the BonkSwap exchange, Coindesk reported.

According to a BonkSwap developers' tweet, "We will integrate incredible, rewarding Bonk-powered games, add innovative trading features like options, and perpetual futures powered by HxroNetwork, and expand liquidity to make trading Bonk easier than any other token in Solana."

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Bonk gained prominence in the Solana ecosystem in January, following the downturn in sentiment surrounding the blockchain network after the Sam Bankman-Fried and FTX fiasco.

BONK's value surged up to 3,200% in just three weeks, sparking significant activity in the Solana ecosystem.

The Bonk Inu project consists of 22 individuals with diverse backgrounds in creating decentralized applications (DeFi), non-fungible tokens (NFT) and other Solana-based products.

The team distinguishes itself from Dogecoin DOGE/USD or Shiba Inu SHIB/USD competitors, emphasizing that BONK is already more functional than the countless other dog-themed meme coins in the market.

A Bonk developer told CoinDesk in January, "There's (not) much you can do with SHIB or DOGE on-chain," adding that there were already over 50 integrations with other projects using BONK in the first few weeks after its launch.

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