MadFi successfully raised $1 million in funding from investors for the BONSAI token, a memecoin based on the Lens protocol. On April 5, the latest investment increased BONSAI’s completely diluted total market capitalization to approximately $100 million.
Several cryptocurrency and venture capitalists participated in the investment round, including Palm Tree Crew (PTC) Crypto, Avara Ventures, and Social Graph Ventures. Aside from them, additional major investors were Refraction, Boys Club Inc., Fire Eyes, Robert Leshner, Spencer Noon, and Sandeep Nailwal Polygon, co-founder.
Brett Shear of the PTC Crypto firm praised the BONSAI Portal for its significant accomplishments, including the delivery of more than 80% of paid mounts on the Lens Protocol. However, BONSAI is a key player in user acquisition and engagement across all applications tied to this platform.
Carlos Beltran, MadFi’s co-founder and CEO, reiterated his desire to establish BONSAI as a default currency based on Lens. BONSAI will implement a compensation system for content authors and individual participation.
