0
0
MadFi Secures $1 Million Angel Funding Round for BONSAI Token
MadFi, a team of developers specializing in blockchain innovations, has successfully secured a $1 million angel funding round for its BONSAI token. This token, categorized as a memecoin on the Lens Protocol, has garnered significant attention in the crypto world.
The funding announcement was made on April 5, underscoring the growing interest and investment in blockchain projects. The infusion of capital has propelled the total market cap of the BONSAI token to nearly $100 million on a fully diluted basis, indicating strong confidence in the project’s potential.
Integration into Lens Protocol and Support from Leading Figures
Since its launch on March 4, the BONSAI token’s integration into the Lens Protocol has positioned it as a valuable tool for content creators looking to monetize their work and engage with digital communities. This strategic move has garnered support from various prominent figures and organizations in the crypto and venture capital sectors.
- Palm Tree Crew (PTC) Crypto
- Avara Ventures
- Social Graph Ventures
Additionally, notable investors including Friends with Benefits, Refraction, Boys Club Inc., Fire Eyes, Robert Leshner, Spencer Noon, and Polygon co-founder Sandeep Nailwal have also expressed support for BONSAI’s potential to revolutionize content monetization in blockchain networks.
Driving Adoption and Success
Brett Shear of PTC Crypto commended the BONSAI token for achieving impressive metrics, with over 80% of paid mints on the Lens Protocol. This success underscores the token’s ability to enhance user acquisition and engagement across its application ecosystem.
MadFi co-founder and CEO Carlos Beltran emphasized the goal of establishing BONSAI as the default currency on Lens. By rewarding content creation and engagement, the token has rapidly gained traction and garnered over $3 million in earnings for creators.
With a remarkable 310.58% increase in value within a month, the BONSAI token has proven its utility as a monetary and rewards layer on Lens. It has even surpassed wMATIC to become the preferred currency for monetizable content, capturing a significant 77% market share in Lens’ collected publications in March.
Redefining Content Creation and Consumption
The MadFi team, drawing on its experience since the launch of the Lens Protocol, remains committed to promoting values such as content ownership, social graph portability, and on-chain social actions. Through the BONSAI token, MadFi aims to revolutionize content creation and consumption, offering creators fair compensation and fostering a community that rewards engagement and brings value to the ecosystem.
Image/Photo credit: source url
