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Mike | Abundance 🌟
@abundance
Few people understand that their Degen allowance is actually a form of decentralized governance - if they tip people who contribute value to the Farcaster (& Degen) ecosystem the value of their (locked) Degen increases. If they T4T or tip those extracting value they're devaluing their (locked) Degen. The more effectively Degens can contribute to those creating value, the more ecosystem growth we'd get, as well as growth for $degen. /impact is one of the most aligned projects in the ecosystem to both Degen and Farcaster growth. It serves as a form of "collective intelligence"; dozens of curators proactively looking for the most impactful content on Farcaster, so that users can maximize the impact of their daily allowance (by Auto-Funding and Multi-Tipping on /impact) and everyone in the ecosystem has an incentive to create the most impactful (and not just farm engagement). These are the kinds of feedback loops we need to grow Farcaster and increase $degen's value.
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Jacek.degen.eth 🎩
@jacek
This is why decentralization often struggles—people tend to prioritize their own interests over the collective good, even when supporting the collective would ultimately benefit them too.
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Mike | Abundance 🌟
@abundance
its a hard problem to solve but its solvable imo You can't expect ppl to prioritize the collective interest above their own. if it's easier to make a profit quickly at others' expense some ppl would do that A good system needs to align common<>self interests (by making it easier to profit while benefiting others)
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