A sufficiently decentralized social network. farcaster.xyz

What if @farcaster decided to never issue a token and instead adopted $DEGEN as their native token? Feels like an opportunity worth at least contemplating.

Founder of Factor Capital. Early stage crypto investor. 

If the protocol wanted to issue certain rights to verification or other premium aspects of the service and charged in $DEGEN they’d accumulate massive balances of the token and as price goes up, so would their treasury.

Not entirely dissimilar to what @elonmusk  has teased with $DOGE and Tesla 

Another example where it’s easy to laugh off meme tokens as a joke but this can be an interesting new model for value creation if approached creatively and earnestly.

One primary downside would be that the Farcaster team wouldn’t have the ability to create exposure to their native token the way other teams do. But that’s easily overcome if you decide that $DEGEN is the native currency of the platform.