Geoff Golberg
@geoffgolberg
FC DAU is overstated by at least 5X; the same doesn't hold true for Twitter, FB, IG, etc. https://warpcast.com/cojo.eth/0x90d18f2b https://warpcast.com/nounishprof/0xe7e94086
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Colin Johnson 💭
@cojo.eth
1. Are you talking about the protocol or a client? 2. Which definition of DAU are you using? 3. Who is overstating it? 4. Where are you getting private DAU data for Twitter? 5. How are you defining DAU on that platform? 6. Who is making the declaration on those platforms?
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Geoff Golberg
@geoffgolberg
1. Effectively WC *is* the protocol (though I am referencing FC) 2. One that doesn't include follow-for-follow sockpuppet networks (where hundreds/thousands of accounts are controlled by an individual/group).. to provide an example 3. Merkle (see screenshot for an example of dwr cheerleading an inflated DAU) 4. I have been swimming in Twitter data since 2017.. back when it was effectively an open data layer (lots of people with zero knowledge on this stuff offering up their opinions here) 5. Accounts that are active and don't violate their rules & policies https://help.x.com/en/rules-and-policies/authenticity 6. Many people here – yourself included – are leveraging whataboutism to justify FC's inflated DAU/protocol metrics ("There is zero chance that bot activity is worse on Warpcast than X")
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Daniel Fernandes
@dfern.eth
This is why I advocate for something that's naturally antisybill'd like "Total $ value of all connected wallets." DAU is a metric to sell to advertisers that was a proxy for readership/circulation/viewership of magazines/TV/radio, but it was a weak proxy for what advertisers should actually care about: namely are those ad impressions getting in front of the right consumers that actually have the disposable income to buy the product? Even better if you can one-click purchase products in-frame w/ social attribution via stablecoins.
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Ghostlinkz
@ghostlinkz.eth
A connected wallet isn’t very useful if the user isn’t active. I checked out the top 100 ETH holders on the Ethereum blockchain who are on Farcaster, and 84 of them haven’t casted in the last 30 days. That said, I still think it’s a good metric to track
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Daniel Fernandes
@dfern.eth
Fair, it can't just be cold wallets...but I was actually thinking more about stablecoins than ETH, like: "did you move stablecoins within the last 30 days?", and "was a discernable purchase like an NFT?"
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Ghostlinkz
@ghostlinkz.eth
I chose ETH because it makes up the majority of the total USD value held by connected wallets on FC. It’s worth analyzing how users are spending the USDC rewards they’re getting from Warpcast, but my main point is that if you have a connected wallet on FC but all your transactions across tokens happen outside the Farconomy, you’re not really “dry powder” unless something convinces you to come back and actively participate. Targeting dormant users with connected wallets that hold decent value seems like a smart growth tactic https://dune.com/empty_block/farcaster-dry-powder
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