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Bonk
BONKRank #146What is Bonk?
Bonk is a dog-themed memecoin on the Solana blockchain, launched on Christmas Day 2022 to revitalize the Solana community following the FTX collapse. Created by an anonymous team of 22 Solana developers and builders, Bonk distributed 50% of its total 100 trillion token supply via airdrop to community members including NFT collectors, developers, and artists.
The project positions itself as "the first Solana dog coin for the people, by the people," explicitly rejecting venture capital backing in favor of grassroots community ownership. What sets Bonk apart from other memecoins is its combination of fair launch mechanics, extensive ecosystem integration, and active deflationary strategy.
How to Buy Bonk in India
The easiest way to buy Bonk (BONK) in India is through an FIU-registered Indian exchange. Here's how:
- Create an exchange account: pick an exchange that appears on the FIU-IND register and complete KYC verification (Aadhaar and PAN).
- Deposit INR: add funds by UPI, IMPS or bank transfer.
- Search for BONK: use the search bar to find Bonk, then tap it to open the trading pair.
- Place your order: enter the amount in INR you want to invest. Use a market order to buy now, or a limit order to set your price.
- Secure your holdings: your BONK sits in your exchange wallet. For large amounts, consider moving it to a hardware wallet.
Tax on Bonk in India
30% flat tax on all crypto profits under Section 115BBH of the Income Tax Act. No deductions allowed except cost of acquisition.
1% TDS on all crypto transactions above ₹10,000 under Section 194S. This is deducted automatically by Indian exchanges and can be claimed as credit when filing ITR.
Losses from Bonk trading cannot be set off against gains from other cryptocurrencies or any other income. Each transaction is taxed independently.
For a complete breakdown of crypto taxation in India, including ITR filing steps and airdrop rules, read our Crypto Tax India 2026 Guide.
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