Welcome to the BONK Token AMA with The Gem Hunters.
We would like to thank the BONK Team for kindly sharing information on their project with our community.
Q1. I'm sure many have already heard of BONK, but to get things rolling please give us an introduction into what BONK is.
Hello, sure thing! BONK is proof of art combined with decentralized staking. BONK is also a little different compared to conventional Uniswap projects because BONK is all about building community trust. At it’s core, it’s a staking token that has no entry fee with a 9% withdraw fee, but the context of BONK is important too. BONK was the first token to lock in the Uniswap liquidity during a livestream.
Q2. We would love to get to know the person behind BONK. What is your background and what lead you to the decision to create the project?
Absolutely, my name is David, I also go by Seal. I have a background in fine art & electronic art. I’m a part time professor & a crypto entrepreneur.
Q3. Projects that started on Uniswap often receive bad press, due to many bad actors launching on the platform. What sets BONK apart from the rest? Are you planing to release transparency data, such as expense reports?
It really comes down to what kind of transparency the community is wanting. As far as anonymity goes, my face is out there. I am the founder/director of the project so I always have the final say. Alongside my advisors & other developers who are semi-anonymous for the time being, but we will be revealing most of the team roster with the new website. I have all the source code out there as well, we also have well respected developer typing out a full audit for us right now.
Q4. Your liquidity lock event, was in fact quite an event and made some waves across various telegram channels. Please give us a small recap of that event.
Sure thing. It was mostly influenced by all the “rugs” that were occurring at the time & still continue to happen. Essentially, a rug is when a project on Uniswap removes all the liquidity & stealing everyone’s money because they have nothing to sell their tokens with. I remember creating the pool that morning & knew I wanted to send the tokens to the burn address. I already have a streaming set up, so I thought I would have some fun with the entire situation & stream the event.
Q5. Please explain the functionality of the $BONK Token.
At it’s current state, it’s utility goes with our staking protocol & for receiving event NFTs while staking, but we want to push this concept much further. We’re currently working on a new reward system that actually converts your dividends into NFTs that you can stake as well to receive BONK tokens. This will eventually accomplish a dual staking functionality for our tokens & for our NFTs. An image is only as valuable as it’s utility & functionality, I try to keep this in mind when working on all this.
Q6. Do you plan to expand the $BONK usecase in the future?
The future of BONK’s usage comes down to our NFT Staking protocol, which I think will be the heart of the project & what really sets it apart from other staking systems. The market always rewards creativity, if it’s marketed & presented well.
Q7. I've heard that you are having a fresh website coming up for BONK, although I have to admit that I already really like the unique style of the current one. Could you give us a sneak peak and maybe an ETA on the launch date of it?
Yes, I do! If everything goes right then we’ll release it this week. We’ve been working really hard on the new website & thank you for appreciating the old one. We’re remodeling it because the current website just doesn’t fit the image that I want for BONK. Oddly enough, we were discussing updates the other day & a random user hopped into the telegram channel expressing how much he loved the site & logo, so you can’t please everyone. To me, it feels a bit on the generic side. I’m not saying it has to be the flashiest thing out there, but it needs some polishing & character. Also, our new website will reveal most of the team behind BONK. Right now, the current website shows only me but there are a lot of people helping me.
Q8. You have recently partnered with Ferrum and from some of Ian Friends comments, I had the feeling it might be about NFTs. Are you able to share some details regarding the partnership with us?
Yes! We did & they are doing some really innovative things right now so it’s exciting to partner with them. So Ferrum Network is utilizing what they call ‘swap drops’ with their tokens. We want to develop a way with them that will let someone send NFTs through a drop link. I am incredibly bullish (my opinion is a bit biased, I’ll admit) on what Ferrum is doing, I can’t find a legitimate reason as to why they aren’t in the top 100 on Coinmarketcap.
Q9. What are your future goals for BONK and where do you want to see it heading?
Originally I wanted to tap into the gaming market, preferably the Twitch streaming community. My goals have altered or forked a bit since then. Wherever this project goes, I want it to be accessible as possible to anyone.
I think that the direction will be a combination of marketing the gaming community & possibly a more niche art market. We also just partnered with ETHVerse & there is a huge Minecraft streaming community on Twitch that I want to reach out to.