Moxie Protocol

a quick primer on how Channel Fan Tokens work...

and how they enable Channels to easily turn followers into stakeholders

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1. Members bid in frame for initial supply of FT = 10% of total channel followers 

winning bidders all get FT for the same price
90% of the Auction proceeds goes into bonding curve
Moxie Protocol collects 5% fee, which is burned
Channel host gets 5% of the FT

2. Anyone can buy/sell FT from the bonding curve. No cap on supply. Every time someone buys a FT, the price increases slightly for the next buyer/seller. Every time someone sells a FT the price decreases slightly for the next seller.

3. Channel moderation tools decide which casts are accepted into the channel. The channel can even set that only fans can cast into the channel if preferred.

4. Everyday Rewards. Whenever a cast is accepted into the channel, 20% of  rewards earned from the cast are shared with the channel Fans, by paying into the Fan Token bonding curve and then burning those tokens, increasing the price

Everyday rewards seems to be a very good incentive to attract recurrent Daily users to Farcaster

Good job