fc-updates

Warpcast Rewards: a new weekly game

- $7,000 reward pool, top 5 scoring casters receive $200 USDC each
- Our goal is to increase the reward pool each week
- The game rewards casters with the most engagement
- Leaderboard and your score available via the Rewards frame (below)
- You do not have to cast on Warpcast to receive rewards
- Detailed FAQ in the next cast

Add the frame here:
https://rewards.warpcast.com

Props to the Farcaster team for trying something new here. But who is this for?

Farcaster already has a reputation for being small and insular. Let’s be real, there still aren’t too many of us here.

People on here are practically begging the Farcaster team to put more resources towards marketing to bring in new users, but so far it hasn’t really happened. 

I know this new reward algo adjusts for follower count and tries to give smaller accounts a fighting chance. That’s great, but easier said than done. 

Leaderboard systems like this tend to devolve into popularity contests that end up rewarding people who already have strong numbers. 

I would like to see the ecosystem grow, so I hope I’m wrong. Hopefully the Farcaster team is able to thread the needle and use this as an opportunity to start bringing in and promoting some fresh faces

Warpcast

"Won't it just be all the big accounts that win?"

1. We adjust for number of active followers, so big accounts get normalized a bit

2. We had a similar algo running every day since August with daily $5 USDC rewards

3. Accounts like @afrochicks started with few followers at the start of daily rewards and now have sizable (active) audiences.

4. Here's a permissionlessly-built Dune dashboard from @slokh and you'll see plenty of smaller accounts on the list:

https://dune.com/slokhx/warpcast-rewards

Art, music, onchain data. Former Director of Research @coinmetrics

Thanks, but I already read that post and the FAQs. With all due respect, this seems like a bit of a knee jerk response to my post considering you responded within a minute and simply recasted something that’s already been said.

Like I said, I know you are taking measures to try to even the playing field. But I am a little skeptical that a leaderboard system will actually boost new users, and not just devolve into a system that rewards those who already have a strong following. 

But my larger point is that the Farcaster team has still not done much in terms of bringing in new users. I hope to see that change, because I’d like to see this ecosystem win. Hopefully this new system is a step towards that