Degen

Surprising that no one has talked about this yet - but on Farcaster today:

- 1105 ppl could give out 1M $DEGEN each via the tipping mechanism
- at .0025 per $DEGEN this is $2500 per person
- 1105 * 2500 = $2,762,500 (!!) -- almost 3 mil was potentially given out today to Farcaster users

And this allocation goes up the more engagement (aka the more reply guys) my posts get

What an interesting mechanism huh?

- creates a re-enforcing habit-reward loop: more posting -> more engagement -> more $ (and more $ to give out) -> more posting..

- no pts program - the amount of tokens accrued is clear and directly correlates with how much activity you spend on this app
- what makes this crazier is that 99.9% of us post on Twitter for free today...

It's early - there's only 154K unique users on Farcaster as of today

Can you imagine what happens when this app 3x's? 10x's? 100x's from here?

On avg there are 96K posts/day -> each post earns you $30! (more if you consider the normal allowance other folks have)

For example, I have a regular, daily allowance of 29,721 $DEGEN per day. That's $74/day that ppl just get by reply-guying to my posts

and you didn't give a single degen to me 

officer, arrest this pixelated man

do we know if it’s 1:1 or will it be normalised to the actual token

people were too busy tipping degen to talk about degen😌

Is there a way to start receiving and giving $DGEN?

I gave all mine away this morning and now @degentokenbase is telling me I have 800k still 🙃

But yes I thought there would be much more commotion