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@juli
Realizing just now that most OG farcaster users really think $degen mainly benefitted from farcaster & it could have been any other token that went to a billion $ mcap. The origin story is ofc farcaster & the degen channel helped to bring some people together that wanted a fun memecoin and turn that fun memecoin into something more for farcaster and base. (Proxy, Payment token, etc) Jacek, wake, oxen AND other diehard holders & supportive degens (tipping, apps) made it happen and promoted base & farcaster signups like crazy for free. Ofc degen also profited from farcaster updates and devs supporting it - but paid quite a lot for it via tips, grants, fees. IMHO they’d deserve the biggest airdrop ever from farcaster for bringing in early users (when fc team didn’t care about growth). Ps: other Farcaster tokens like $higher would never have gotten to 10m+ without Degen setting the ceiling and Degen profits reinvested - which enabled core people to ultimately turn it into sth attractive 🙂
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alex 🎩
@proxystudio.eth
“Degen wealth effect” Firmly in the camp that Degen helped grow fc more than frames launch
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@juli
More than frames for sure. I’d even say degen helped fc more than vice versa. Degen could have been another Brett with the supporters it attracted. Fc would have 10000s of signups & 100s of active users less today, be even more irrelevant for crypto and struggle to find pmf (Thesis: the active onchain token investors push farcaster towards product with pmf) Re frames: it was a nice narrative event during 4 months of bullish degen updates (with 2 corrections that people forgot already). (It took 5 more weeks until frames got useable, a couple more months until people could use wallets other than Base wallet and there’s still no meaningful amount of transactions) Anecdotally, people from crypto chats still ask about Degen, trade it, yet they still haven’t signed up to farcaster or don’t use it anymore. 👆🏼think the latest token launches & chatter covers some of the recent farcaster disappointments (no great product improvements in last 6 months, no growth - except from traders once again)
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Ox Bid
@oxb
100% degen was a huge long term push
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kripcat.eth 🎩
@kripcat.eth
lol the idea that frames drove the DAU explosion is laughable. $DEGEN mooned, crypto twitter went “where did this token come from?” And stuck their heads over the fence.
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LEA 🎩
@leaolmos.eth
hard agree https://warpcast.com/leaolmos.eth/0x1b9bee4d
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