farconomy

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

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

Investing at cherry.xyz | writing at luc.cx

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

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

number 1 lesson I learned from @supercast: it pays to be an active member

farcaster users qualifying for the airdrops have received between $100 and $600 on average every month

https://supercast.xyz — have fun on farcaster

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

@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

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

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

@hypersub is another great example of what these businesses might look like, with close to $1.3m in subscription volumes generated in the past 12 months

finally is the protocol itself

while at this stage revenue not the focus, it generated close to $3m in revenue, mainly from storage units over the past 12 months

for more details, please visit farconomy.com!

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