{"id":282291,"date":"2024-04-12T23:52:10","date_gmt":"2024-04-12T18:22:10","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=282291"},"modified":"2024-04-12T23:52:10","modified_gmt":"2024-04-12T18:22:10","slug":"bonsai-memecoin-aims-to-becomes-de-facto-currency-on-lens-after-1m-angel-round-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/bonsai-memecoin-aims-to-becomes-de-facto-currency-on-lens-after-1m-angel-round-crypto-news\/","title":{"rendered":"BONSAI Memecoin Aims to Becomes De Facto Currency On Lens After $1M Angel Round – Crypto News"},"content":{"rendered":"

<\/p>\n

The token pumped 30% ahead of the funding announcement. <\/p>\n

\n

MadFi, the team behind the Bonsai token \u2013which MadFi says is Lens Protocol\u2019s first memecoin \u2013 raised $1 million in an angel round.<\/p>\n

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

\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

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

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’s fully diluted valuation sits at $80 million, according to Coingecko<\/a>.<\/p>\n

BONSAI Price – Coingecko<\/figcaption><\/figure>\n

Bonsai is capitalizing on the memecoin mania<\/a> that has been permeating the crypto industry. While Solana and 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

Organic Growth<\/strong><\/h2>\n

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

\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

Interestingly, BONSAI is technically a \u201cDN404\u201d, which means it\u2019s a \u201cDivisible 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

Lens Protocol underwent a massive transformation after two years in beta, announcing on Feb. 27 it was 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

UPDATED @ 11:35 am ET to add funding round was for $1M after team sent corrected PR.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

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 $1 million 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 […]<\/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-282291","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\/282291","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=282291"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/282291\/revisions"}],"predecessor-version":[{"id":282292,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/282291\/revisions\/282292"}],"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=282291"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=282291"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=282291"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}