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Bonsai 🌳@bonsai·Mar 22

Welcome to this brief explanatory video about the DN-404 functionality of BONSAI.

(00:00:00 - Welcome)
(00:00:08 - What is DN-404? )
(00:00:48 - Example)
(00:02:08 - Outro)

So what exactly is DN-404?

It represents an experimental feature where an ERC20-Token-Contract and an ERC-721-NFT Contract are interconnected. This allows for seamless interaction between the two. In the case of BONSAI, 100,000 $BONSAI Tokens are equivalent to 1 NFT.

This means that once you have more than 100,000 BONSAI Tokens in your wallet, you automatically also have 1 NFT in your wallet. If your balance drops below 100,000, you lose the NFT. If you wish to transfer 100,000 BONSAI Tokens, you could simply transfer the NFT instead.

Example:

  1. Markus possesses 490,000 BONSAI, therefore also 4 NFTs.
  2. Nate holds 2,800 BONSAI, so he owns 0 NFT.
  3. Markus transfers 40,000 BONSAI to Nate. Markus now has 450,000 BONSAI and still owns 4 NFTs, while Nate has 42,800 BONSAI but still 0 NFTs.
  4. Markus then transfers an additional 70,000 BONSAI to Nate. Markus is left with 380,000 BONSAI and 3 NFTs, whereas Nate now has 112,800 BONSAI and 1 NFT.
  5. Markus decides to transfer 1 NFT to Nate. Post-transfer, Markus has 280,000 BONSAI and 2 NFTs, while Nate has now 212,800 BONSAI and therefore also 2 NFTs.
  6. Carlos shows up with zero BONSAI. Markus gifts him 125,000 BONSAI, and Nate sends 2 NFTs.
  7. Following these transactions, Markus has 155,000 BONSAI and 1 NFT. Nate is left with 12,800 BONSAI and no NFTs. Carlos now enjoys 325,000 BONSAI and 3 NFTs.

Website: bonsai.meme/
Bonsai on Lens: lenscan.io/profile/bonsai
ERC-20 Token Contract: polygonscan.com/token/0x3d2bD0e15829AA5C362a4144FdF4A1112fa29B5c
ERC-721 NFT Contract: polygonscan.com/token/0xe9d2fa815b95a9d087862a09079549f351dab9bd
NFT Collection on Opensea: opensea.io/collection/bonsai-token
Get BONSAI via Uniswap: app.uniswap.org/explore/tokens/polygon/0x3d2bd0e15829aa5c362a4144fdf4a1112fa29b5c?chain=polygon

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