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Coop
@coopahtroopa.eth
I believe a big reason FC is not seeing more growth the last few months is due to a lack of interest and acceptance of trading and memecoins being the dominant narrative this cycle. FC's infra is best suited to be the defacto home for token projects and yet we see very very little projects doing so. I understand and appreciate the commitment to building, adoption and sustainability. I also recognize that 99% of memecoins will go to 0 by the end of this cycle. However - the current approach is making FC feel like a place that has an entirely different set of convos, most of which are not currently EV+. I say this all as someone that cares deeply about FC and it's growth but think it's important we recognize that crypto-natives on Twitter do not see value in being on here and that feels like a problem to me in the context of the next 12-24 months. It is unlikely that FC just leapfrogs crypto-native adoption and gets an influx of mainstream users without winning the wider crypto crowd over first.
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@six
I don't think trading memecoins is stigmatized on Farcaster. degen, moxie, ham, higher, etc. there are lots of farcaster tokens and ecosystems that occupy a large share of the conversation on Farcaster. It's moreso IMO that memecoins occupy less share of the conversation *compared to CT* where ~100% of conversation is about memecoins, because people talk about other stuff here too. Which is good for the network
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Coop
@coopahtroopa.eth
The tokens you mentioned occupy significantly less attention than they once did. The fact that we all keep mentioning the same 5 tokens as FC being pro-memecoins is an issue IMO. I agree its healthy for the network to have a very wide range of topics. All I'm saying is that those wide range of topics do not seem to be leading to increased usage and there is no clear path towards more case studies like DEGEN or HIGHER because token founders realize you can't really break a token on FC right now with how low a ceiling it currently has.
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six
@six
I understand where you're coming from, it seems like the issue comes down to Farcaster-first speculation being -EV compared to CT-first speculation, thus no growth. Reasonable take - that being said I would venture that the conversations around building and such are actually what is needed to break out of that zone. Farcaster tokens took off as a result of a tech advancement on Farcaster (frames --> people wanting to speculate on FC --> degen --> wealth effect to other tokens). Tokens don't do well currently on Farcaster not because of the community culture imo (which is in reality quite speculative), but the lack of users in general which means a FC token has inherently lower TAM. This doesn't get solved by a bunch of people vocalizing "memecoins good", it gets solved by tech advancements that reignite growth (e.g. hopefully miniapps, channel restructuring)
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Coop
@coopahtroopa.eth
Very accurate articulation - specifically FC being -EV compared to CT. Also big +1 to low TAM due to a lack of users. Agreed on "memecoins good" not moving the needle. I think the new feature updates are a positive step in that direction but even me as someone who uses this app everyday can't confidently go to a memecoin founder and tell them that putting a lot of energy into their channel or building a miniapp will move the needle for them. Wish I had more "answers" here but more just vocalizing my frustration about the gap in convo and attention between FC and CT when it comes to the leading narrative in crypto right now. When is the last time you bought a token that you found out about from FC? I felt like I was doing this all the time before, haven't bought a token because of FC in a long time.
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six
@six
Yeah probably this summer tbh. I don't feel too concerned about it though honestly. I think Farcasters growth will look very nonlinear, like most social app growth. Strength of the community and robust dev rails are, imo, the right moats on the timescale that I am thinking about. Joining Farcaster purely for EV-basis lends itself to being just as easy to leave as it was to join, which is why a lot of people from the spring aren't here anymore In any case I hear the frustration
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