Since its launch in March 2024 the Bonsai token has grown rapidly to find its place as the native currency on Lens Protocol for collecting content, supporting creators and monetizing the network and social graph. We’ve seen an incredible rise in activity thanks to the countless creators producing incredible content and developers building apps that leverage $bonsai for growing the community and rewarding high quality engagement across the LensVerse.
In order to continue supporting ecosystem and encourage new avenues of growth the Bonsai team is launching our new ecosystem support initiative. This will come in two parts aimed at providing incentives to users of growing projects and supporting teams that have demonstrated a positive impact on the Bonsai community through their efforts.
Grant Types
There are two forms of grants that a team can be eligible for: Bonsai Universal Incentives and Retroactive Funding.
Bonsai Universal Incentives
Universal incentives is a points program you can plug into your app, open action or project. Users earn points for performing incentivized actions in your app and these points are distributed as tokens at the end of a given period.
By implementing this program teams can provide rewards to their users to bootstrap growth without having to provide liquidity for a new token themselves and grow in tandem with the Bonsai ecosystem.
Some ideas for rewards may include:
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1000 points for referring another user to your app
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% bonus for winning a bet or game that pays out in $bonsai
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awarding points in a APY format for a DeFi action such as staking
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tipping other users in an app for contributing high quality content or contributions
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giving out a flat $bonsai reward for completing an action for the first time, 10-250 $bonsai depending on the complexity of the task
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volume based trading rewards for marketplaces
Points awarded for actions may need to be adjusted over time or on a case by case basis and these suggested amounts shouldn’t be treated as final or an expectation.
Caps may be implemented on the amount of tokens distributed per app per period in order to maintain longevity of the program. Initially 1 point = $bonsai but this conversion rate is subject to change at any time.
Retroactive Funding
Retroactive funding is a mechanism where by projects that have demonstrated an impact on the Bonsai ecosystem can be eligible for a grant to assist with continued growth. The purpose of this approach is to increase the effectiveness of grant money distributed by allocating to projects and teams based on their product-market fit and ability to execute.
When submitting an application you will need to detail how your project has made an impact on the Bonsai ecosystem and community in order to be eligible. You’ll be asked to provide an amount that you’re requesting and then it will be up to the discretion of the Bonsai grant council how much the final amount will be if approved.
Eligibility
There are two forms - one for each program - that project teams can submit to request support, linked at the bottom of the article.
Eligibility for either of these programs will be judged on a case by case basis by the Bonsai grant council. The main criteria will be how aligned the project and team is with the Bonsai community and values and how effective the program is deemed to be for the amounts requested. The council may reach out to applicants to discuss applications and request more details or adjustments.
Conclusion
The Bonsai ecosystem and community has seen incredible growth in these first few months and we’re just getting started. The Bonsai project is nothing without its supporters and community and it’s time to start supporting the people and teams who are turning Bonsai into a cultural touchstone for crypto social. Whether you’re building an app, a Lens open action, a podcast or a new creative venture that contributes to the growth of the Bonsai SuperForest then come join the community chat on telegram and explore your ideas with the rest of the community.