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I think the Farcaster registration cost is the highest drop off stage of the funnel - most users don't have enough proof of value The highest leverage opportunity right now is figuring out how to increase the perceived value to the user before getting them to pay; other apps use the freemium model for this problem
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Farcaster needs a similar free onboarding funnel to have a greater timeframe to convince users it's worth paying for. Without allowing for sybil or spam. Need ideas! Perhaps you could stake $7 to "light" invite a user, giving them a smaller amount of storage that expires sooner. If they spam, you get slashed.
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@dwr.eth what do you think of this idea? perhaps they get 50 casts and 200 reactions & 3 months expiry - at the end of that period, or sooner, they get prompted to fully onboard and pay. Slashing mechanism could be rudimentary mvp for now, Warpcast doing it algorithmically
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I like this sort of free trial idea. Can you rent an FID? Probably not? I assume those would need to be disposable as soon as someone has it (even if temporary). I think renting smaller storage units would be great.
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I was thinking of it more like rentable NFTs. I think it would need to be "wiped" unless you pay in full. A wipe would just mean that the FID is no longer under your ownership (and is burned?) Now that I think more about it, maybe smaller storage units are the way
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Are you two involved in 6551? I'm building a DeFi protocol around it and would love to get your opinions on it if that's the case @stevedylandev.eth
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I’ve been immersed in 6551 for most of 2023 and used it in a project to happy to chat! The tokenbound working group telegram is an even better resource as the devs building the protocol are there helping people https://t.me/tokenbound
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