Farcaster's new users have fallen into a low growth phase, from a daily peak of about 15,000 in early February to about 650 at present. Farcaster's DAU has dropped from a peak of 100k in early July to 60k, a decline of about 40%. The number of posts and interactions has dropped by more than 60% from the peak, according to @filippoarman dune. — link 

In May this year, Farcaster completed a $150 million Series A financing, with a valuation of $1 billion, led by Paradigm. Farcaster is also a decentralized social network advocated by Vitalik.