$DEGEN

Throughout the day, I saw quite a few proposals to improve the staking system. However, all of them seem problematic in some way.

The takeaway is that the current system is clearly not satisfying many users. 
Staking and SocialFi are hard to mix because there’s no quality content tied to the formula so far. 
This is slowly losing the unique bond with FC that made it successful. Right now, staking feels like the bell vibration making Venom reject Peter Parker.

It’s great to see people trying hard, and I hope they come up with a masterpiece idea that works well! 
This is not a rant, just an observation of day 1.

Throughout the seasons I’ve watched all the farming groups and I couldn’t be happier than now seeing the dissatisfaction of the “pro-farmers” with the new system that requires them to put a little skin in the game.

It’s long overdue to make farming and value extraction harder.

Content quality on Farcaster wasn’t improved my Degen so far, but new users have been onboarded, apps, builders & creators in the ecosystem have been enabled.

I’d love better content - less free tokens and less farming content might be a first step.

Constructive feedback around making $degen a more sound asset to hold, adding incentives for active & meaningful $Degen ecosystem app usage, growing the user & contributor base and ultimately the $degen & farcaster economy should be taken in by the core team - and I totally expect them do so! 🎩

Degen

People on ct gonna be bear posting throughout summer while we rerun defi 2020 with all kinds of Farcaster tokens and derivative staking 🤝

🎩 $degen (native & app staking)
🎩 $moxie + channel tokens
🎩 $higher
🎩 $alfa
🎩 $terminal + memechannels
🎩 $wild
🎩 $anon @dwp @randomeror

Degens, what do you guys think about farming all the new degen/farcaster ecosystem apps?

For me, being a Degen means being early to apps, taking risks and getting rewarded handsomely IF it works out.

It’s obv pretty sweet that we get tokens from these apps for social farming, i.e. risking time & reputation (hence get called out 🫣) but no money..

I expect smart apps will offer bigger rewards, more tokens for staking, risking money, sticky capital/users.

What are the best strategies?
What are the best opportunities?
@baubergo- @maretus.eth 

Ps: A sound, strong $degen sets the ceiling for other tokens $higher.

IRL: Creative Director who makes movies and ads.

Founder of /success & /insider-trading. Search Marketing Director at Kraken Kratom.

job: token analyst. Talk to me about football, sports, crypto, outdoors, growth, econ, investing, chess

Degens, what do you guys think about farming all the new degen/farcaster ecosystem apps?

For me, being a Degen means being early to apps, taking risks and getting rewarded handsomely IF it works out.

It’s obv pretty sweet that we get tokens from these apps for social farming, i.e. risking time & reputation (hence get called out 🫣) but no money..

I expect smart apps will offer bigger rewards, more tokens for staking, risking money, sticky capital/users.

What are the best strategies?
What are the best opportunities?
@baubergo- @maretus.eth 

Ps: A sound, strong $degen sets the ceiling for other tokens $higher.

https://warpcast.com/juli/0x33ce6eff

Yes. My hunch is that Moxie Protocol will be naturally more egalitarian than degen. Degen tipping game was pushed into being farcaster's UBI, an imperfect fit for a token with so few controls + the wrong distribution mechanism. Tipping favors /unusual quality/ and that is /not/ most people and cannot be.

Moxie can be the backstop of the farcaster economy and degen can return to being it's local investment fund.

Without Degen, Moxie would make farcaster boring as fuck. Without Moxie, Degen can't possibly lift the network evenly, fairly. We need /both/

You’ve been very vocal. I see many agree with your criticism, in parts I agree too that $degen & it’s distribution mechanism can improve, but it’s also important for $degen to let go of some weights (farmers).

I’m always for uplifting many but someone needs to pay for the social welfare & it’s weighted a little heavy on $degen’s shoulder.

Hence, looking forward to more shoulders lifting Farcaster users up (incl moxie) while $degen will remain open & ambitious as always, chip in with the same intent but maybe a more focused approach that rewards Degens putting skin in the game, quality $degen & Farcaster contributors.

After all, degen culture is about taking risks, being willing to lose some to make a big win.

Winning together is amazing - the more the merrier - but the most value usually comes from a concentrated core contributor base.

That said, I’m not on the team; I don’t make the rules, I just voice my opinion as you do > Feel free to dm.

You’ve been very vocal. I see many agree with your criticism, in parts I agree too that $degen & it’s distribution mechanism can improve, but it’s also important for $degen to let go of some weights (farmers).

I’m always for uplifting many but someone needs to pay for the social welfare & it’s weighted a little heavy on $degen’s shoulder.

Hence, looking forward to more shoulders lifting Farcaster users up (incl moxie) while $degen will remain open & ambitious as always, chip in with the same intent but maybe a more focused approach that rewards Degens putting skin in the game, quality $degen & Farcaster contributors.

After all, degen culture is about taking risks, being willing to lose some to make a big win.

Winning together is amazing - the more the merrier - but the most value usually comes from a concentrated core contributor base.

That said, I’m not on the team; I don’t make the rules, I just voice my opinion as you do > Feel free to dm.

https://warpcast.com/wake.eth/0xba50ac09

It's funny how I'm contesting the system and people feel entitled to call me things. It says a lot more about you than it does about me. But if you want to have a constructive and healthy discussion, I'm totally available (after my IRL job as today I'm super busy). Happy season to you!

They need to have skin in the game or they will dump on us.

Just watch the price, the usual post-claim dump was small compared with previous claming days. 2000 $DEGEN

In my books, You and Baubergo are great farmers but you also contribute to Farcaster and $degen.

I obv farm & speculate too in crypto - but prefer a little more quality focus on Farcaster and long-mindedness.

Ultimately, it’s not black and white but important to have a vision for $degen that the community stands united behind.

I hope it’s less about farming tips, more about good content creation & curation, creating a truly competitive socialmedia ecosystem and bootstrapping many sustainable but fun socialfi apps.