One prominent VC GP told me that they did their research on Farcaster, and that the protocol fees were absolutely atrocious, and it was impossible to make any money here. 

Didn't have the heart to tell him that users are rewarded by the network and Merkle is trying to make the protocol nearly free 😭 😭 😭

You can think of storage fees are protocol fees as they're returned to Merkle-controlled contracts.

When user growth stalls or goes down, so does storage income.

I wouldn't be suprised if you guys decided to decentralise that income stream as well.