In a charming episode of the SlateCast, the co-founders of MadFi, Carlos, Nate, and Marcus, joined Senior Editor Liam “Akiba” Wright and CryptoSlate CEO Nate Whitehill, to delve into the world of Bonsai, the primary real neighborhood token on the Lens Protocol. The dialogue make clear the motivations behind Bonsai’s creation, its distinctive options, and its potential influence on the way forward for Web3 social platforms.
The Start of Bonsai
The concept for Bonsai stemmed from realizing one thing was lacking within the Lens ecosystem. As Carlos defined:
“We knew that there was one thing lacking at Lens, and , DGEN was type of like that, aha second for everybody. It’s like, Oh, look, you may seed an on-chain neighborhood with a token after which type of identical to develop it from there.”
What began as an inner undertaking at MadFi shortly gained traction, evolving right into a token with multi-dimensional utility. Carlos emphasised:
“It’s not a meme coin. It’s much more than that. It has a number of dimensions to it, proper? It’s a token. So it’s tradable. It’s liquid. There’s an NFT affiliation with it due to the DN-404.”
Eradicating Friction and Fueling Engagement
One in every of Bonsai’s standout options is its means to take away friction from the Lens expertise. Akiba, a eager observer and participant, shared his perspective:
“I’ve undoubtedly spent far more in collects since Bonsai has come out than I did earlier than, simply since you’ve eliminated the friction.”
By eliminating the necessity to wrap tokens or navigate complicated processes, Bonsai has streamlined accumulating and interesting with content material on Lens. This has fostered a extra vibrant and energetic neighborhood, as Carlos famous:
“In the event you’re simply utilizing Bonsai throughout all of the apps, I feel we’re gonna see a variety of exercise right here.”
Gamification and Incentivization
Combining an ERC-20 token with an ERC-721 NFT underneath DN-404, Bonsai’s distinctive mannequin introduces an intriguing layer of gamification and incentivization. Nate from Bonsai defined the rationale behind this method:
“It provides you a motivation to gather extra cash. You’ve gotten like these milestones. Each time you get 100 thousand cash, you get like, uh, virtually like, uh, like a free, , badge or one thing.”
This gamification facet encourages energetic participation and fosters a way of accomplishment, probably driving additional engagement and adoption.
The Way forward for SocialFi
Because the dialog turned to the broader implications of Bonsai and SocialFi, the panelists shared their optimism and imaginative and prescient for the long run. Carlos envisioned a world the place customers may seamlessly onboard pals, handle neighborhood wallets, and interact with apps that summary away the complexities of crypto:
“Think about onboarding your 5 pals to Bonsai and now you all handle like a gaggle chat the place you’ve gotten a pockets after which you may go to Orb and acquire stuff collectively. That’s a particularly highly effective, flywheel impact that’s solely attainable now that we now have, uh, higher, higher, higher tech stacks.”
Markus highlighted the potential for Bonsai to transcend Lens and Polygon, suggesting that the token may play a job in fueling the expansion of your entire SocialFi ecosystem.
Because the dialogue drew to a detailed, it was clear that Bonsai represents extra than simply one other token. It’s a image of the revolutionary pondering and community-centric method that’s reshaping the Web3 social panorama. With its distinctive options and the imaginative and prescient of its creators, Bonsai has the potential to pave the best way for a extra participating, rewarding, and inclusive digital expertise.
