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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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Dan Romero
@dwr.eth
Let's assume this is true. What incentive do people into memecoins have to switch to Farcaster? Twitter works well enough for them content wise, and the big accounts have large audiences that took a long time to build. Why start over from zero?
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DavidBeiner
@db3045
@dwr.eth farcaster has the foundation to become the best place to launch a memecoin. Being onchain gives it unique advantages over twitter. - automatically have wallet addresses of channel followers/members. - create frames that uniquely harness community and spread token virality. - align incentives in a member channel based on onchain metrics related to a token. twitter isn't built for this. fc is and could win this battle. it's why when we launched @louder we built up our community on warpcast first. this allowed for a fair airdrop to channel members as well as sending LOUDER to other users based on their activity in other channels. for example, LOUDER was sent to the top 100 active posters in other music groups like @sonatatips and the music channel. there's an opportunity to attract the fastest growing segment of crypto to this app and culture/meme/scene coins could flourish here. yes 99% will go to zero. the 1% will be extremely powerful.
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Dan Romero
@dwr.eth
What's stopping them? It's a permissionless protocol.
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DavidBeiner
@db3045
it’s a good question. tbh i don’t completely know. my hunch is the answer is probably rooted in awareness/culture. in the spring we started to see a culture around fc native tokens that led to some strong experiments. most notably @higherco and degen. we also started to see some “mainstream twitter users” start using FC. it seems like many of them left. FC is very much driven by a decentralized ethos and you and the team have done an amazing job of letting it be an open ecosystem. in that context we probably need a very loud champion to unite FC token successes and help build a real community around it. maybe we’ll see that in the next six months as projects like @higherco and @louder see more success.
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