luc on Warpcast

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farconomy.com is live we are working with @woj.eth to visualize all aspects of financial activity born on farcaster today we are launching v1 of our dashboard, this channel and a roadmap please dm me to join the channel and keep submitting requests to make it better and show what's happening in farcaster highlights in the thread below

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first off, this year trading volume of farcaster went from $0 to $1b in record time fuelled by degen but also notable performance of higher and tybg in march and april

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these tokens reached a market cap close to $2b in a short few weeks, driven by new mechanisms like degen tipping and moxie rewards, or vibes for higher

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many started as airdrops to active users, reaching the 10s of millions in USD value at the time of distribution that planted the seeds of an active economy of tipping and payments

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number 1 lesson I learned from @super: it pays to be an active member farcaster users qualifying for the airdrops have received between $100 and $600 on average every month

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behind these airdrops are novel mechanisms that incentivise good behavior degen tipping for instance has enabled over $70m of value at time of distribution to be directed to quality users, has determined by the most active farcaster users

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@moxie is a more recent experiment that rewards users for their engagement from the highest quality users in the network since the beginning of august, over $2m in daily rewards have been distributed to the most engaging content creators

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a crypto-native user base that's becoming richer has second-order economic consequences for farcaster-aligned protocols @zora for instance has done a great job with the minting frames and warpcast integration this led to some months are close to 700k mints, and close to $10m in total minting volume from Farcaster active adresses

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similarly, projects that have natively built for farcaster users, like @bountycaster have generated over $300k onchain transactions their early success shows that revenue-generating businesses will be a reality of farcaster

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Very cool! Note since we don't require payments to be sent through Bountycaster (it's all p2p) and bounties can have multiple claims, the total $ amount of completed bounties should be quite a bit higher than this

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this is great feedback, thanks any chance for me to trace those flows, or contextualise them around a claim - or does the p2p element obscure total volume?

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p2p obscures total volume e.g. some paid out through devfolio during onchain summer hackathon

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