Farcaster

Observation that channels have progressively moved further along the “moderation spectrum” over time:

Phase 1 - no mod, just a parent url
Phase 2 - “negative” moderation (ban, hide, etc)
Phase 3 - “passive positive” moderation (what we have today, mod bots)
Phase 4 next - “active positive” moderation (mod decides full membership)

Phase 5, paywall for members. 
Phase 6, increment up the cost of that paywall year on year. 
Phase 7, close membership entirely.

Bubble complete.