Impact

Every coin and token in crypto has a private and a public sphere to it. The private sphere is what you do with your coins once they’re in your bag; you can do basically whatever you wish with them (not legal advice).

The public sphere is what the network does with the coins before they land in users’ wallets. Networks need to maintain the infrastructure that would allow the private sphere to thrive.

In Bitcoin or Ethereum, for example, the public sphere allocates coins for network security. Once the coins land in the wallets of miners or stakes they can do whatever they want with them.

In the Tipping Economy we have a new kind of distributed public sphere; each user gets to decide what to do with their daily allowance. For the Tipping Economy to thrive the network needs to create the incentives (and tools) that would motivate users to tip those things that benefit the network (and disincentivize farming and self-dealing). The better incentives the network creates the more valuable its currency will be.

What can you build with Farcaster? Let’s say you have a community on FC that crowdfunds the construction of a community hall. They truly believe in the power of decentralized social, so they want to pay workers based on the engagement their construction site casts get.

The architect casts multiple renders of the project and gets a ton of likes. Interior designer gets lots of engagement on her casts as well. There are also 3 workers that cast funny memes about the work and get a good share of the replykes.

Once construction is done everyone gets paid based on their FC engagement score:

Architect got 27% of project funds, designer: 23%. "Meme" workers: 32%, facade installer: 10%, structural, MEP, masonry, drywaller, and rest of the construction team (37 people): total 8% of funds - it's not that their work didn't have value, it just wasn't as exciting (or visible)

Farcaster can be the social coordination network where anything can be built, but to get there we need to focus on value - not just engagement

Working on /impact ||


Abundance Economy book: book.abundance.id

I'm tipping:
3 $HUNT 
via Abundance Ecosystem on /impact

/impact lets you earn curator rewards while supporting your favorite creators & builders on Farcaster