wake
@wake.eth
Juicy tip (up to a reasonable limit) to whomever can fairly summarize $farther's launch, historic changes, recent tweaks, and today's capitulation. Not fishing or dishing. Just the facts please. (I don't follow further) Also GM and happy Monday 🍿🌞
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Maretus
@maretus.eth
Farther launched with an airdrop to all power badge holders which started it off with a bit of good reputation here cause it was like a $400 airdrop for most people. They also had an influencer reward program that would give you a lot of farther for tweeting about it. After the initial launch, it became fairly evident that the influencer reward program was just being farmed by low effort tweets so it was limited to 1 tweet per cycle and then ultimately scrapped. It didn’t initially launch with tipping, but that was a demand from a large part of the userbase so it was implemented. It soon became evident that tip traders were just value extracting so the rules were changed again to a sort of prediction martket where tips earned rewards based on the receivers increase in open rank. Encouraging you to tip people who were adding value. This system was in place for the - month and showed progress, but the value extraction was still happening and the damage was done. Yesterday, gigamesh threw in the towel.
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Maretus
@maretus.eth
This was not an attempt to earn a fat tip. Save that for someone else. Just sharing my limited understanding of how things went from the perspective of someone who got involved around the time tipping started.
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wake
@wake.eth
Great summary. Why pivot to tipping? Like, what did the community think would happen?
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