brian is live on unlonely pfp
brian is live on unlonely
@briang
should farcaster launch a token? debate tonight on @unlonely w/ @dwr.eth but why wait, let’s start it off now: I think tokens are an interesting web3 feature that if done right, creates defensibility for an otherwise not-super-unique product experience. also I want free money.
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Dan Romero pfp
Dan Romero
@dwr.eth
https://i.imgur.com/i9VgPcv.jpg
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Dan Romero pfp
Dan Romero
@dwr.eth
> if done right is doing a lot of work in that sentence
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Tiggy pfp
Tiggy
@willy
A problem is that for tokens to be effective, they should have vesting schemes like employee equity compensation tying the value to the community to the performance of the protocol but then they get classified as a security. Personally I agree with some others in the thread that tokens can wait until post PMF
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Noah Bragg 🐟 pfp
Noah Bragg 🐟
@nbragg
Any way you can record it? Won't be able to attend but would like to watch later.
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Noah Bragg 🐟 pfp
Noah Bragg 🐟
@nbragg
Yes, once there are 1 million users and the protocol is fully decentralized.
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Jason — ⚪↑🎩🐹 pfp
Jason — ⚪↑🎩🐹
@jachian
Likely for good reasons there isn’t a coin now, but it’s really hard to say that a good incentive structure for one won’t exist in the future
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fuck.degen.eth pfp
fuck.degen.eth
@fuck
fuck no
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Daniel Keller pfp
Daniel Keller
@dak
Do VCs invest in protocols without tokens? How else could they get their return?
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Alberto Ornaghi pfp
Alberto Ornaghi
@alor
Imho no. What should be the purpose of the token? Also I don’t like free money because your profits are someone else losses. Money is not created out of thin air…
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sean pfp
sean
@swabbie.eth
What are the mechanics of value creation that would give the token sustainable value?
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borodutch @ lunchbreak.com pfp
borodutch @ lunchbreak.com
@farcasteradmin.eth
again?
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forager pfp
forager
@forager
Yes, I don’t think there’s meaningful difference with today’s corporations without a token or distributed governance. It’s less about incentives for users (although that’s a good possibility) and more about the trustees neutrality of the core protocol.
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Bobski pfp
Bobski
@bobski
No
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rocket pfp
rocket
@rocket
The U.S. legal outlook for ERC-20 type tokens looks 🥴
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Yoofi Annan pfp
Yoofi Annan
@yoofi
It’s inevitable
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wutwut pfp
wutwut
@wutwut
I don’t think you do. For governance you don’t need it, your identity is your token. And you use identity based voting with multipliers based on behavioral factors. For incentives, you can use the eth you earn from selling user names etc, or give access to special privileges/handles etc
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