SocialFi

Interesting what's happening with memecoins around social finance

Orb has $BONSAI

Farcaster has $DEGEN

Both have the same core idea but execute differently

What's good about each strategy?

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Community evolves with strategy 

Might seem organic but it's designed how you build a community

Early adoption in Farcaster were all builders for example

And it shows in the community they attracted at first

Then frames brought a lot of crypto users experimenting with consumer crypto

And now Degen, well, degens

its about community not strategy , its about user interface and user frienly style , so you can see the diffrents ✌🏻🎩

Web3 citizen, DeFi Professional, Investor and Blockchain enthusiast.

I think it's useful to see lots of experiments 

These are not mere meme coins for the sake of it

They bring new user behaviours integrated to how the dapps work

That's worth their short or long lives I believe

I am not sure that so many SoFI memecoins are a good thing. It leads to fragmentation and concentration. Very few will actually be successful. We are very early, it will be interesting to see if I am right or not.

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Yeah tbh when I posted this I thought SoFi was talking about this

But then I realized it's mostly a rebranding for SocialFi 

So now I'm not sure

Anyways this post has got many likes mostly because of bots because that's what SoFi and DeSo have in common

Are farcaster and lens considered socialFi? What is the difference between sofi and deso?

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hmmm i feel like degen has had more momentum and excellent grants strategy

this being said the potential to integrate bonsai everywhere in lens clients is bigger bc of lens' onchain design, its already easier to monetize content on Orb than WC

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Yeah for sure

Utility makes token worthwhile I believe 

Specially if it attracts a large base of users

They both bring utility to the token, which is different from most other memecoins. 

Actually using the coins within a booming ecosystem makes them stand out amongst all the others imo.

The only thing you can really say about this game

I love the continued evolution of experimentation.

But there should be serious concern about a mechanism that rewards insiders & encourages them to distribute if the goal is “decentralization”—such a system will reproduce inequities & make barriers to entry much higher for newcomers over time

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also @imagineinfra @enjoytech.eth have the same model

$Bonsai is a good system it could be their most used token with $Pointless. $Degen is much more advanced