Eric P. Rhodes pfp
Eric P. Rhodes
@epr
the whole tipping meta thing... is that what enables organic engagement and visibility on the Farcaster protocol? or is it just Warpcast? i confess, i don't understand how any of it works. i don't unerstand how it relates to "far score" and "openrank" and "boosting" and other farcaster social scores. and I don't know what the DEGEN and MOXIE and ENJOY ecosystems have to do with any of it. who can explain it all to me simply like i'm a 9th-grader?
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Callum Wanderloots ✨ pfp
Callum Wanderloots ✨
@wanderloots.eth
It’s an economic layer of farcaster, that works outside of Warpcast. Degen = active tipping, the allocation amount is determined by a combination of locked degen (similar to staking) and open rank score Moxie = automatic gifting through engagement (like, comment, save, share), determined by a mix of open rank score, fan tokens purchased (value locked), and fan tokens locked (long term) As an artist & writer, I think they’re both great boosts to the ecosystem. Most people just get caught up in the spam nature of tipping culture. Personally, I use my degen intentionally every 2-3 days to give a big tip to someone who adds value to my time on farcaster
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Eric P. Rhodes pfp
Eric P. Rhodes
@epr
thank you for outlining the ecosystems. in general, i have my doubts about the value and promise of memecoin tipping. i don't see a future where these economies are sustainable. but i'm watching and learning. what i'm also interested in understanding more about is the purpose and role of the social ranking in these economic layers. and separately whether Warpcast uses them in any way to inform their algorithms on the platform.
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Chris Carella pfp
Chris Carella
@ccarella.eth
Protocols and their tokens have long term value. Memecoins are dubious without some external valuable thing. I’m bullish on Moxie turning tipping into a protocol and bullish on Higher being an indie group of artists, athletes and creators doing cool shit without care of the token price. I’m not counting on either to make me rich but those are the two I’m studying.
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Callum Wanderloots ✨ pfp
Callum Wanderloots ✨
@wanderloots.eth
As an example, I made enough money with degen in a few months to pay 3-4 months of mortgage payments. regardless of where the meta goes, the short term value enabled me to prioritize time writing and making art, building generally, which then (I hope) provides value back to the ecosystem. So I think there will be hype bubbles and the long term sustainability is a consideration, but also that the short term value can be augmented into long term ecosystem value Hmm not sure re: open rank, my assumption is there’s a trained machine learning algorithm for feeds
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