Farcaster

Will Farcaster launch a token?

'One source, who requested anonymity due to the constraints of his business, told me that, like most protocols, he expects that Farcaster will launch a token, and investors will be keen to capture the fully diluted value of it—regardless of whether there is liquidity.'

Tokens are generally used as governance, incentive system (rewards for creators, rewards for accepted FIPs), currency within the app (weak use cases as stables are better fit) or for security. 

Reward system is a valid use case yet there needs to be a demand for it. 

For example, Brave browser with $BAT managed to reward users with the token but demand for the token is lacking

https://x.com/defiignas/status/1795040651156791528

Scientist, crypto enthusiast, dog lover, amateur photographer. 

I wonder what's the purpose. Optimism (Op) and Base (USDC) cover the majority of possible use cases on the protocol level. Degen and thousands of culture/social/channel tokens launching every day cover "financial incentive" part too. 

kind of this:

maxxing on /morpho 🦋 | pursuing a higher self w /higher-athletics | consistently curious

There are many decisions to make on Farcaster. 

So even as a referendum/governance token, it could be useful.

I wonder what's the purpose. Optimism (Op) and Base (USDC) cover the majority of possible use cases on the protocol level. Degen and thousands of culture/social/channel tokens launching every day cover "financial incentive" part too. 

kind of this:
https://warpcast.com/dwr.eth/0x4435c618

Writer/Consultant/Degen/Community for web3

I would have said no before the 150mil raise. 

Don’t think they got that much because of the potential of warp sales

Content at /zerion Safary 🦁 member.  KB ∞. Memecoin  ̶e̶n̶j̶o̶y̶o̶o̶r̶ masochist.

If there was market “Will Farcaster launch a token by 2030?

I would buy YES

Hope not, as Buterin wrote in ‘21 that the concept of token-based governance, concentrates power in the hands of wealthy individuals and entities rather than promoting true decentralization.

unreal reality  /misha 🪨 mishaderidder.eth.limo glitch.mishaderidder.com 

If not governance, could be a reward token. 

I agree that it's tricky. We don't want to promote fake engagement farming so quality of posts would go down.

Hope not, as Buterin wrote in ‘21 that the concept of token-based governance, concentrates power in the hands of wealthy individuals and entities rather than promoting true decentralization.

https://vitalik.eth.limo/general/2021/08/16/voting3.html

Frog | FID #3741 | Bitcoin | Nerd | Accelerate

cloaks.app

Yet most L2s have tokens

plus L2s might need tokens to incentivize validators or for decentralization of fraud proof submission, pay transaction fees, ensure economic alignment, and boost broader participation and governance.

Seems unlikely and unnecessary to me, similar to why base doesn't need it's own token.

lmao so someone who doesn't work at merkle is a 'source'?

i see it more as “farcaster is a place where tokens and new cultures are born”

the place to have your token, but not their own token

Farcaster is way better than x, hopefully next news will be 1 billion users and a 1T valued.