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@89one

391 Following

50 Followers

Abraham pfp

@abrahamdomenick

I scored 7 goals in Farcaster Football on the @atlas frame!

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No Smoking base

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robin (◕‿◕ ✿) pfp

robin (◕‿◕ ✿)

excited to support based farcaster builders – see you tonight!

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Base pfp

The 100 most active builders on Base last week just received 2 ETH in rewards, distributed by @talent The second round of Builder Rewards kicked off today, and will run until next Monday Make sure you’re eligible on http://builderscore.xyz

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Ignas | DeFi pfp

How crypto companies go bankrupt: Yesterday, I learned that Phaver social media app had closed operations with all socials gone. Token down 99% since TGE in September. I had high hopes for Phaver merging Lens and Farcaster ecosystems, with 35K DAU and 800k downloads. At peak, they had 50% of Lens traffic and 20% of Farcaster's. I asked their team member on what happened and three things stand out: 1. They messed up TGE & airdrop. It led to hours of portal failures, causing FUD as people couldn't claim immediately. 2. They overpaid for CEX listings: Paid more than $1m USD for 5 CEX listings. $SOCIAL still trading on Bybit, KuCoin, Gate etc. 3. Ex-employee said the team decided not to sell any tokens at TGE as FUD was already too high. This was a mistake as they were short on cash for operations. TL;DR – Phaver ran out of funds. As a Finnish company, it also had to pay employees during the 1–2 month notice period. All this despite raising $8m at $80M valuation from Polygon Ventures, Nomad Capital

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