I think it’s possible that $DEGEN (& Alfafrens) has a long term negative impact on Farcaster. It financialized it too early. When the vibes were about builders, a bunch of crypto traders crowded the feed because DEGEN was hot. But authentic casting doesn’t come from the financialization of social.

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I wonder if it would have worked better as a non-financialized token or if it could split into smaller denominations.

Early on DEGEN was cheap and the tip levels were huge but it had a fun quasi-Monopoly money feel, similar to how 10k BTC was used to buy pizza when BTC was cheap as hell.
The problem came when DEGEN tip levels were still huge but DEGEN shot up in price, bc it was de facto FC token, and the farmers then joined.

That’s fair. I’m trying my best, but my for you feed has been flooded with traders lately and I personally find it annoying. If there was a way to broadly mute trader accounts, that would be huge.

If you don't follow people who care about those topics, then you won't see much of it.

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I don’t think that’s what happens on Twitter and Instagram too. Although Twitter now allows you to make money off of ads and Instagram gave birth to monetized influencers, the vast majority of people who post daily don’t do it for monetary value. The network effects make posting fun, engaging, and sticky.

Its a interesting point and ill think more about this. One thought is that in the moment with the huge amount of previous activity it was probably hard to see the impact and so we all gravitate to the most interesting/ incentivised activities

True. Both will go hand in hand. 

Degen is now more than just a meme and Farcaster is more than just crypto native app

Financializing Farcaster too early may have a negative impact in the long run. Authenticity matters more than hype. 🤔

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I agree, although i came here firstly because of DEGEN