MadFi, a developer crew centered on blockchain improvements, has secured a $1 million angel funding spherical for its BONSAI token — a memecoin on the Lens Protocol, in line with an April 5 announcement.
The funding propels the overall market cap of BONSAI to almost $100 million on a completely diluted foundation. The token’s integration into the Lens Protocol since its launch on March 4 has marked it as a big software for content material creators to monetize and interact communities throughout the digital financial system.
A number of main figures and organizations within the crypto and enterprise capital sectors participated on this spherical, together with Palm Tree Crew (PTC) Crypto, Avara Ventures, and Social Graph Ventures.
Extra traders included Buddies with Advantages, Refraction, Boys Membership Inc., Hearth Eyes, Robert Leshner, Spencer Midday, and Polygon co-founder Sandeep Nailwal — indicating broad help for BONSAI’s potential to innovate content material monetization on blockchain networks.
Brett Shear of PTC Crypto praised the memecoin for reaching over 80% of paid mints on the Lens Protocol, highlighting the token’s position in enhancing consumer acquisition and engagement throughout its software ecosystem.
MadFi co-founder and CEO Carlos Beltran mentioned the purpose is to make BONSAI the default foreign money on Lens. He emphasised the token’s position in rewarding content material creation and engagement as key to its speedy adoption and success.
With a 310.58% improve in worth inside a month and creators incomes over $3 million in BONSAI, the token has demonstrated sturdy utility as a financial and rewards layer on Lens.
It has surpassed wMATIC as the popular foreign money for monetizable content material, capturing about 77% of Lens’ collected publications market share in March.
The MadFi crew, leveraging its expertise for the reason that launch of the Lens Protocol, continues to advertise values corresponding to content material possession, social graph portability, and on-chain social actions.+
MadFi goals to redefine content material creation and consumption via BONSAI in an effort to supply creators truthful compensation and foster a group that rewards engagement and brings worth to the ecosystem.