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MJC

@mjc716

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11873 Followers
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no disrespect to OP used to think this way but there are a few key structural reasons why it doesn’t make sense for an early stage project first, better to use those fees to fund growth, not pay out dividends second, there is zero chance an early stage token will yield anything consequential on a % basis. if the project starts performing well, the token will price it in and the yield will once again be very low third, capital efficiency. distributed fees relative to buybacks results in an immediate capital loss from taxes finally, any resultant psychological effect is short lived. unfortunately the way we operate in this space, the potential for fee distribution is a lot more bullish than the fee distribution itself this is part of why I’ve grown more positive on using gov tokens as a liquidity pair e.g. $zora, upcoming $pro release, despite some downsides of that model as well
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🚥 Let's talk about the Farcaster feed 🚥 It delivers highly relevant content to users. It does this job well. However, it also narrows and flattens the experience. It results in much highly relevant content *not* reaching users. It makes valid assumptions about what you want to see and who you want to engage with and takes that to the extreme. With some exceptions, it progressively homogenizes your content consumption, unless you make specific efforts to break the pattern. It does this for a completely sensical reason. People are lazy and unwilling to put in serious work to curate their own experiences. How do we break that mold? Channels were an attempt at this. Segment content by subject or community and users have alternative feeds to consume. One challenge with this approach is that people remain lazy. They just scroll the main feed anyway. An additional challenge is that curation-by-commitee removes agency. If twenty people have channel-posting rights, the whole network might as well. No one feels personal ownership over curation quality. With that in mind, we're introducing the Procoin Curation Protocol (PCP) as an alternative to the main feed. We think Farcaster deserves its Tumblr era -- an experience with 1000 feeds managed by 1000 curators, each with their own quirks and creativities. But as we know, no one in crypto raises an eyelid without profit motives. And why should they? Curation is hard work. And consumption is a zero-sum endeavor. The PCP provides a path for curators to earn from their hard work from day one. It creates a system for speculators to earn profit by discovering and amplifying good curators. Finally, it facilitates broad buy-in among creators by giving them upside in curators' feeds. The contracts are in audit. The miniapp is deep in development. We have a community of curators in a groupchat learning about the system and preparing the themes they plan to curate around. Let me know if you're interested in participating. Follow @procoin for updates. Launching soon
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