Lens memecoins are built different – Bonsai becomes first community token

Bonsai, a memecoin built on the Lens Protocol and launched on March 4, is presented as a community token with real utility for creators, though the author is an admitted holder. The article says Bonsai holds about 77% of paid mints on Lens and that creators have earned over 3 million worth of $BONSAI, roughly $240,000 as of April 4. It also reports that the price rose about 2,000% in the past month after Lens users were first airdropped tokens. The token uses the DN-404 design, which pairs an ERC-20 token with an ERC-721 NFT, with 100 million total supply and 60% allocated to the community.