Degen

Farcaster

degen and ham chains were mistakes and they set the whole farcaster ecosystem back

im posting this after reaching out to @jacek and @deployer privately, but since they both answered that they have no plans on sunsetting the chains, i want to give a heads up to all other teams building their economies on farcaster:

don't launch you own chains

1. fc ecosystem only has a chance to work if there is a lot of liquidity in one place
2. separate chains fragment the liquidity and only benefit the passive token holders (less sell pressure) and mev bot operators (arbitrage between chains and pools). actual users pay in UX, mev and fees
3. devs who want to launch integrations with these projects are fucked because most infrastructure providers don't support these small chains

im building supercast wallet and it's beyond frustrating to see how close we were to having something truly great and how much harder it is to build a good UX on top of these projects because they selfishly decided to launch their own chains

1/3 Hey Degens, I wanted to share where we’re heading with the Degen chain and what to expect going forward.

We built the Degen chain to give our community a unique and fun space to build and discover dapps that fit a certain mold. At the same time, having our own chain gives us the flexibility and control to shape it based on the community’s needs.

We’ve heard concerns about liquidity being spread too thin, and we get it.  To address that, we’re working with some of the best teams in the space to roll out a new bridge that’ll make moving $DEGEN and other tokens across chains faster and easier. We’re also bringing in a new DEX to give traders and liquidity providers more options.

2/3 For developers, we’ve secured tools that will make building on Degen much simpler. We know it’s been a bit challenging so far, but that’s about to change. Plus, we still haven’t utilized airdrop 3 (about $70M in tokens), and at least part of that will go to rewarding community members who have contributed to the chain’s growth. So far, we’ve rolled out almost no incentives, but that will change soon.

This is a long-term project, and we’re just getting started. Our first step is to reduce friction for building and bridging, which will help onboard more users, devs and liquidity. After that, we’ll focus on bringing more great apps to the chain and supporting builders with additional incentives. If you’re building now, you’re ahead of the curve.

using incentives me that there is no demand rn and as much l3 might be a thing in future degen l3 probably is super early which means a good chance it fades out before l3 mania if that ever happens

Right now, our focus is on addressing key challenges like bridging, liquidity, and enhancing dev tools, with updates rolling out in the coming weeks. We’ve got the runway to stick around for years, so when the market is ready for L3s, we’ll be ready too. Being early has its risks, but we see more upside than downside. Our horizon is long-term, focused on years rather than short-term trends.

being able to address liquidity issue would be a positive start and good luck for rest of the things too