social token

getting a lot of feature requests. gonna spend the rest of the week improving performance and squashing bugs before moving onto new features, but thanks to everyone hanging out in the chat helping me advance the product

spotlight

Almost 200 unique users participating in Chatroom in the first day.

Thanks to everyone who's stopped by! You're helping us stress test and prioritize future features

proxy studio

I'm skeptical of "best token model on Farcaster" claims, in general. There is no best token model, there are simply tradeoffs! 

but I am a fan of @mjc716's work, and really enjoyed trying out the group chat feature yesterday

go check out /socialtoken

love proxy, and every token model has tradeoffs of course, but some are clearly generative and some are clearly extractive.

extractive pseudo-equity models punt on what makes crypto great: composable network effects

What problems is this solving? Not catching it

now: fun, connection, community, realtime chat, ephemeral event discussion,  loneliness, interests-based discussion, low pressure socializing, networking and professional interests

future: social gamified experiences, voice chat in frame, streaming in frame, social financial experiences, Cabal Mode

fun day of bug squashing and performance improvements ahead

finally fixed a gnarly websocket bug. 

now able to drop pixiedust $$$ in chat bigtime

spent the day chatting with people in Chatroom, discussing feature requests and squashing bugs. 

got a few major ones i'm still contending with but made some real solid progress today

100ish people chatting it up today, mostly in General. 20ish user-generated chatrooms. the room creation feature works, but still needs more users to demand more rooms

back at it tomorrow

On to Pixiedust.

$PDUST is simultaneously our in-app currency AND the $SOCIAL token model.

Most importantly, Pixiedust users in the app *don’t need to know anything* about the $SOCIAL token or token model to use it. 

Okay, so how does PDUST work?

ICYMI, yesterday we launched Pixiedust, our new $SOCIAL token model and also are in-app currency.

It's the best token model on Farcaster for three reasons:
- symbiotic relationship between app utility and token holders
- naturally deflationary even when not being actively transacted
- stable unit of account for value exchange

Where’s the fun at these days? 

Just another tuesday scrolling the boring ass warpcast feed?

No more.

$SOCIAL Chatroom launches today!

Live chat with friends, enemies and lovers in Chatroom, now available in frame.

Keep reading for more on Chatroom and Pixiedust, the new $SOCIAL token model.

👇 

https://socialtoken.fyi/frames/chat

when the neynar score screening you set up to keep out very few people ends up keeping out almost everyone 😧

no fault of neynar to be clear. dumb bug on my end

if you were forced to mint a passport to access chatroom you likely don't have to anymore

no fault of neynar to be clear. dumb bug on my end

if you were forced to mint a passport to access chatroom you likely don't have to anymore

https://socialtoken.fyi/frames/chat

Big fan of my first look at /socialtoken 

Worth taking the time to drop in on the chat and dust a friend or two 

You might just stick around!

Cool idea too - time bound group chats. Could be useful for clanker presales, or other non speculative experiences like telling @lambchop a secret about what her #1 enemy really thinks!

thanks proxy, preciate it.

initial release working pretty well minus a few kinks

We are live chatting like it's 2002 in a yahoo billiards room right now

More than 25 people have joined the in-frame live chat at various times. We are making warpcast live chat history 😄

Where’s the fun at these days? 

Just another tuesday scrolling the boring ass warpcast feed?

No more.

$SOCIAL Chatroom launches today!

Live chat with friends, enemies and lovers in Chatroom, now available in frame.

Keep reading for more on Chatroom and Pixiedust, the new $SOCIAL token model.

👇

nvda lost one swedish gdp of market value today

the net present value of expected future cashflows to nvda have increased by 174 billion dollars today

Technowatermelon. Elder Millenial. Building Farcaster. 

nf.td/varun

We're making two changes this week: 

1. Known good users is being expanded from a few thousand users to all users who classified as unlikely to be spammy. (about 40,000 users) 

2. Normalize by active followers is going to use a higher root. This means there is much less of a penalty for having a large number of active followers. 

These changes should make more people eligible for rewards this week!

so I guess that means there are approx 40k qWAUs on the network?

at least flirt with me a tiny bit before asking me to auth and add your frame

spent a weekend back in the trenches.

lucky to be down only two or three sol.

shit kinda sucks, reminds me why i mostly stopped.

<insert skill issue snark>

you can see sol memecoins professionalized in a way they clearly weren't in nov 2023 during the initial mainstream CT wave. 

no new insights here, but if you're not doing it for hours per day for weeks on end, your odds are very bad