$BONSAI token's angel investment
accelerates Lens Protocol's creator
economy.

MadFi has completed a $1 million angel investment round for its BONSAI token, a meme coin created on Lens Protocol. The funding round attracted leading investors such as Palm Tree Crew (PTC) Crypto, Avara Ventures, and Social Graph Ventures. Individual investors also participated in the funding round, such as Boys Club Inc, Spencer Noon, and Sandeep Nailwal.

BONSAI is up by 340% since its launch, at the time of writing, with its price peak showing a 435% growth. Moreover, the token shows almost $95 million fully diluted market cap.

“By rewarding content and engagement, $BONSAI has effortlessly become an integral part of Lens, encouraging monetization experimentation,” stated Carlos Beltran, co-founder and CEO of MadFi.

Lens Protocol user count almost doubled movement in the last few weeks after its network became permissionless, letting users create new profiles without requiring a whitelist. Since February 27, Lens users jumped from 142,468 to 270,703, according to a dashboard from on-chain data platform Dune Analytics.


Image: Sixdegree/Dune Analytics


According to the funding announcement, the token’s utility extends beyond simple transactions, aligning the interests of platforms, creators, and users. Creators on Lens have already earned over $3 million in $BONSAI.

“BONSAI’s integration with the Lens community, already achieving over 80% of paid mints, is impressive,” commented Brett Shear of PTC Crypto.

Furthermore, the token has overtaken wMATIC as the preferred currency for monetizable content on Lens, with a market share of collected publications reaching 77% in March.
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You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.

Solana meme coin pre-sale ends up in a fiasco for investors

Most of the over $40 million raised was kept by the man behind the project, with the funds left in staking.

A meme coin pre-sale on Solana (SOL) had a bad outcome for investors this weekend. After raising over $40 million in SOL to deploy its BOBAOPPA token, the notorious figure Machi Big Brother staked around 170,000 SOL and allocated just 50,000 SOL to the meme coin liquidity pool.

As a result, the BOBAOPPA price quickly crashed by almost 50% and sits at a 40% loss at the time of writing. The crypto community went to X to vent their frustrations about the price crash and, more importantly, that Machi Big Brother kept most of the funds raised in the pre-sale.

The ‘meme coin pre-sale mania’ became popular on Solana’s blockchain, and consists of investors with an appetite for risk sending funds to someone’s wallet with the promise of receiving a proportional amount of a soon-to-launch meme coin.

On top of the risk of not receiving any token back, there’s the technical risk of token delivery, which is generally made by airdrop. The problem is that the airdrops happen after the token’s liquidity pool opens, and investors who receive their meme coins later might not profit from the pre-sale.

Some investors still bet that Machi Big Brother will use the funds from staking SOL to buy BOBAOPPA and raise the price for those who hold the meme coin. However, this might be a dose of what the crypto community calls ‘copium.’

The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.


Crypto Briefing may augment articles with AI-generated content created by Crypto Briefing’s own proprietary AI platform. We use AI as a tool to deliver fast, valuable and actionable information without losing the insight - and oversight - of experienced crypto natives. All AI augmented content is carefully reviewed, including for factural accuracy, by our editors and writers, and always draws from multiple primary and secondary sources when available to create our stories and articles.


You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.

Cat-themed token on Solana soars over 120% in 24 hours

The “Cat in a dogs world” token is rising even after airdropping 5% of its total supply to dog-themed meme coins.

The cat-themed token MEW rose over 120% in the last 24 hours, data aggregator CoinGecko points out. Holders of two other famous Solana-based meme coins, WIF and BONK, received 5% of MEW’s total supply. The token price sits now at $0.00511, and its over $470 million market cap makes MEW the biggest cat-themed token.
MEW is the ticker for “Cat in a dogs world,” which is a reference to the fact that the most popular meme coins are all dog-themed currently. The crypto community on X was quick to embrace the narrative, with personalities like Arthur Hayes and Meltem Demirors posting about buying MEW.

However, the white cat has a long fight ahead if it wants to flip dog-themed coins. According to CoinGecko, the total market cap of dog-themed meme coins is almost $59 billion, which is 3,000% larger than the $1.9 billion total market cap of cat-themed tokens.
Nevertheless, MEW’s effort might bring a ‘cat season’ soon. Data from decentralized exchanges aggregator DEX Screener shows that 6 out of 20 most popular tokens created in the last 24 hours on Solana are cat-themed.