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Ignas | DeFi
@ignas
Will Farcaster launch a token? 'One source, who requested anonymity due to the constraints of his business, told me that, like most protocols, he expects that Farcaster will launch a token, and investors will be keen to capture the fully diluted value of it—regardless of whether there is liquidity.'
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Dan Romero
@dwr.eth
What would the token do?
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Ignas | DeFi
@ignas
Tokens are generally used as governance, incentive system (rewards for creators, rewards for accepted FIPs), currency within the app (weak use cases as stables are better fit) or for security. Reward system is a valid use case yet there needs to be a demand for it. For example, Brave browser with $BAT managed to reward users with the token but demand for the token is lacking https://x.com/defiignas/status/1795040651156791528
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Dan Romero
@dwr.eth
What gives the token value?
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Ignas | DeFi
@ignas
Honestly? At the current crypto stage is: 1. Speculation 2. Liquidity. Liquidity for Farcaster token would appear from speculation and market cap would be significant due to Farcaster number of users. Even if there's no utility right now, it can be added with increased decentralization (check Progressive decentralization by a16z). Like UNI token has no value accrual but the market aspects it to eventual have utility in the future. https://x.com/defiignas/status/1585572916841787394
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Dan
@gaoron
when we gave it all a perception that it has a value. Plus utility/use cases of course :D
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