{"id":278152,"date":"2024-04-05T20:11:59","date_gmt":"2024-04-05T14:41:59","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=278152"},"modified":"2024-04-05T20:11:59","modified_gmt":"2024-04-05T14:41:59","slug":"bonsai-memecoin-aims-to-becomes-de-facto-currency-on-lens-after-590000-angel-round-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/bonsai-memecoin-aims-to-becomes-de-facto-currency-on-lens-after-590000-angel-round-crypto-news\/","title":{"rendered":"BONSAI Memecoin Aims to Becomes De Facto Currency On Lens After $590,000 Angel Round &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<p>The token pumped 30% ahead of the funding announcement. <\/p>\n<div>\n<p>MadFi, the team behind the Bonsai token \u2013which MadFi says is Lens Protocol\u2019s first memecoin \u2013 raised $590,000 in an angel round.<\/p>\n<p>Led by Palm Tree Crew (PTC) Crypto, the round included Avara Ventures, Social Graph Ventures, Friends With Benefits, and Polygon\u2019s Sandeep Nailwal, among others.<\/p>\n<p>\u201cBelieving that tokens can align platforms, creators and users, MadFi aims to build capabilities to support the creator economy,\u201d read a press release shared with The Defiant.<\/p>\n<p>Bonsai\u2013which launched on March 4\u2013pumped ahead of Friday\u2019s announcement, clocking a 32% increase Thursday. The token is down 25% in the past 24 hours.<\/p>\n<p><!--$!--><!--\/$--><\/p>\n<p>BONSAI has been on a rocket ship this last month, trading for $0.08, with a 700% price increase in the past 14 days. The token&#8217;s fully diluted valuation sits at $80 million, according to <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.coingecko.com\/en\/coins\/bonsai-token\">Coingecko<\/a>.<\/p>\n<figure><figcaption class=\"text-center text-xs\">BONSAI Price &#8211; Coingecko<\/figcaption><\/figure>\n<p>Bonsai is capitalizing on the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/thedefiant.io\/memecoin-mania-sbf-sentenced-25-years-usd63m-hack-kucoin-in-trouble\">memecoin mania<\/a> that has been permeating the crypto industry. While Solana and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/thedefiant.io\/trade-base-memecoins-like-a-pro-3-degen-tiers\">Base<\/a> are notorious for their memecoins, the MadFi team hopes Bonsai\u2019s success could spell a similar story for the Lens ecosystem.<\/p>\n<h2><strong>Organic Growth<\/strong><\/h2>\n<p>According to the team, BONSAI has been growing organically, with creators earning over $240,000 in tokens, overtaking wMATIC as the currency of choice for monetizable content. In March, Bonsai\u2019s market share of monetized publications on Lens surpassed 75%, peaking at 90% last week.<\/p>\n<p>\u201cWe are excited to see BONSAI become the default currency on Lens,\u201d said Carlos Beltran, Co-founder and CEO, MadFi. \u201cBONSAI demonstrates the power of onchain networks coupled with great content,\u201d he added.<\/p>\n<p>Interestingly, BONSAI is technically a \u201cDN404\u201d, which means it\u2019s a \u201cDivisible <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/thedefiant.io\/what-are-nfts\">NFT<\/a>\u201d \u2013for every 100,000 tokens a wallet accrues, the holder will receive 1 Bonsai NFT, said Beltran. \u201cIt\u2019s a new experiment and has yet to become an official ERC (i.e.,going through a full EIP),\u201d he added.<\/p>\n<p><!--$--><\/p>\n<div class=\"relative flex items-center gap-2 rounded-md bg-[#191919] p-2 my-4 lg:hidden\">\n<div class=\"relative group  flex w-max items-center gap-2  p-2 text-sm text-white mx-auto\"><strong class=\"whitespace-nowrap w-min sm:w-auto bg-gradient-to-r from-[#9FF9D2] to-[#DB9FF9] bg-clip-text text-transparent\">DeFi Alpha<\/strong><span class=\"whitespace-nowrap  w-min sm:w-auto border-l border-white pl-1 lg:hidden\">Premium Content<\/span><\/p>\n<div class=\"tooltip font-heading shadow-cta absolute hidden lg:visible left-6 z-10 -top-[80px] w-max max-w-xs translate-y-full flex-col rounded-lg bg-[#EEEEF4] p-3 text-left text-xs text-black group-hover:flex lg:left-auto lg:right-4\">Looking for Alpha? Become a premium member of The Defiant and join our DeFi Alpha community.<\/p>\n<ul class=\"list-inside list-disc\">\n<li>DeFi Daily | Weekdays<\/li>\n<li>DeFi Alpha Letter | Weekly<\/li>\n<li>Defiant Podcast Transcript | Weekly<\/li>\n<li>Inbox Dump | Saturday<\/li>\n<li>Weekly Recap | Sunday<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"http:\/\/thedefiant.io\/go-premium#pricing\" class=\"disabled:bg-cta-disabled-background disabled:text-cta-disabled-text rounded font-semibold border-cta-primary-border bg-cta-primary-background text-cta-primary-text hover:border-cta-primary-border-hover hover:bg-cta-primary-background-hover ml-auto block p-2 text-center text-sm !text-black !no-underline shadow-newButton\">Start for free<\/a><\/div>\n<p><!--\/$--><\/p>\n<p>Lens Protocol underwent a massive transformation after two years in beta, announcing on Feb. 27 it was <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/thedefiant.io\/lens-protocol-goes-permissionless\">going permissionless<\/a>. Anyone can now mint a Lens profile to access the protocol, and developers can create new use cases by tapping into the network\u2019s already budding community.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The token pumped 30% ahead of the funding announcement. MadFi, the team behind the Bonsai token \u2013which MadFi says is Lens Protocol\u2019s first memecoin \u2013 raised $590,000 in an angel round. Led by Palm Tree Crew (PTC) Crypto, the round included Avara Ventures, Social Graph Ventures, Friends With Benefits, and Polygon\u2019s Sandeep Nailwal, among others. [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":278153,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[274,273,272,244,266,271,268,270,269,267],"class_list":["post-278152","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-de-fi","tag-crypto-finance","tag-decentralized-finance","tag-liquidity","tag-metamask","tag-pancake","tag-slippage","tag-sushiswap","tag-tronlink","tag-trust-wallet","tag-uniswap"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/278152","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=278152"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/278152\/revisions"}],"predecessor-version":[{"id":278155,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/278152\/revisions\/278155"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/278153"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=278152"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=278152"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=278152"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}