Memes coins are a topic that I usually avoid due to controversy. Some people see them as a fun way to interact with the crypto community, while others view them as risky investments with no real value.

Personally, I believe that the meme coin sector may harm blockchain more than help. It's okay for people to take risks with meme coins, but we should be honest about it being a form of gambling and not pretend it's all about 'community.'

In the midst of this debate, the Lens Protocol-based project called Bonsai stands out.

Unlike many meme coins that rely on hype and speculation, Bonsai has taken a different approach. By working with the Lens Protocol, Bonsai has become an essential tool for content creators to earn money from their work and connect with their audiences.

Since its launch on March 4, Bonsai has become popular within the Lens ecosystem. It is the preferred currency for paid content, making up about 77% of all paid transactions on Lens.

Creators have earned over $3 million worth of $BONSAI tokens (approximately $240,000 as of April 4). This shows that meme coins can have real-world uses that benefit both creators and their followers.

Despite its success, the price of Bonsai has also risen significantly – by 2,000% in the past month. This increase began when Lens users were given free tokens.

Bonsai is a new token launched on the Polygon blockchain, specifically for the Lens Protocol ecosystem. It combines the features of two types of tokens, BONSAI and BONSAI NFT, in a unique system called DN-404.

One interesting feature of DN-404 tokens is that they can be divided into smaller parts. For every 100,000 BONSAI tokens held, the owner gets 1 BONSAI NFT. If the token balance drops below 100,000, the NFT is lost. This allows for easy transfers and tracking of ownership.

Bonsai has a total of 100 million tokens, with 60% given to the community through airdrops and support programs. The team and investors each have a portion of tokens allocated to them, while the rest is for liquidity.

The token is used by builders, explorers, and early users of on-chain social platforms within the Lens ecosystem. It enables users to do various actions directly from their Lens posts, like collecting posts as NFTs, tipping, trading tokens, and engaging in DeFi activities.

While other socialFi platforms have used tokens to reward users, the way Bonsai is implemented feels different because of the strong Lens Protocol. Lens allows every post to be collected as an NFT, and additional features can be added with just a click.

Creators can share earnings with collaborators, reward fans who share their content, and even give commercial rights to those who collect their posts. All of this can be done easily with Lens, without needing any coding skills.