In a fascinating 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 similar to develop it from there.”
What began as an inside 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
Considered one of Bonsai’s standout options is its potential to take away friction from the Lens expertise. Akiba, a eager observer and participant, shared his perspective:
“I’ve positively 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:
“When you’re simply utilizing Bonsai throughout all of the apps, I believe we’re gonna see a number of exercise right here.”
Gamification and Incentivization
Combining an ERC-20 token with an ERC-721 NFT below 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 got like these milestones. Each time you get 100 thousand cash, you get like, uh, nearly like, uh, like a free, , badge or one thing.”
This gamification facet encourages energetic participation and fosters a way of accomplishment, doubtlessly 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 associates, handle neighborhood wallets, and interact with apps that summary away the complexities of crypto:
“Think about onboarding your 5 associates to Bonsai and now you all handle like a bunch chat the place you might have a pockets after which you may go to Orb and accumulate stuff collectively. That’s an especially highly effective, flywheel impact that’s solely attainable now that we’ve got, uh, higher, higher, higher tech stacks.”
Markus highlighted the potential for Bonsai to transcend Lens and Polygon, suggesting that the token may play a task in fueling the expansion of all the 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 considering 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 way in which for a extra participating, rewarding, and inclusive digital expertise.
