woj on Warpcast

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woj pfp

engagement tokens tokens mineable by engagement on farcaster - assign every faracaster user a rank using @openrank. seed it with people you value - distribute tokens on daily / weekly cadence for posting - rewards are based on engagement weighted by the user rank - attach a funny meme, build a cult, profit essentially proof of work distribution but based on social signal rather than computing power

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woj pfp

ofc this is heavily inspired by degen and moxie and the whole tipping meta

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joshisdead.eth pfp

@joshisdead.eth

sounds like any other tipping token and moxie wahahaha, let's go back to warps pls 😆

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Mental Wealth Academy 💠 pfp

Mental Wealth Academy 💠

@metawavestudio

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Leo 🪴🎩 pfp

The key to this incentive probably lies in how the token's price is maintained.

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law pfp

Do you think moxie should later on divert to using openrank instead of the airstackrank in latter times?

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OTTI🎨🖌 pfp

I think this would even work better than what exists now

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darcris pfp

Are you planning for supercast token?

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EIZA🎩🎭 pfp

Is this a token related to supercast? I'm looking forward to it

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dd8🎩🎭 pfp

Well... do we still need more tokens here....

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Ako pfp

I smell it, local /supercast token would be so then ?

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BFG 🎩↑🌱

I think it would be better to creatively flip the script and ditch - openrank, farrank and all ranks - open it up. Yes, it will attract the bots and boring engagement farmers, let them play their game and get them of my back :) - put weekly claim of distributed points on Jokerace and let them pay a small fee ... small fees x many - everybody wins

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Liang @ degencast.wtf 🎩 pfp

Liang @ degencast.wtf 🎩

Cool idea! - how to differentiate good engagement and heavily farmed engagement? - is this rewarding only replyguys or could also benefit banger cast creaters? Also bookmarked permanently on arweave https://frames.degencast.wtf/proposal/frames?castHash=0x06d058fc28b1bbd1f9dc7389bdadcf2e68be196a

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Stephan pfp

in my head tokens have taps that dictate supply and sinks that dictate demand and in the case of successful tokens the sinks are greater than the taps engagement is a tried and tested distribution mechanism as we've seen with tipping tokens and moxie the problem that remains unsolved is the lack of sinks to sustainably support creators realizing their gains (dumping) staking is a common sink. fan tokens are an interesting spin on staking, but ultimately has the same outcome imo feels like we're onto something here but are missing one or two more important innovations to make it sustainable

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kk pfp

woj what u smokin?

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@accountless.eth

who is this in /six

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meguce pfp

I've always said it. I'll say it again. Any experiment given the gap between people in Openrank systems will fail. In fact, they will only fail more quickly than others. They need to find a way to constantly add value in the process. After all, even bitcoin loses value if there is no money coming in from outside.

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Deployer pfp

ser i think you're talking about ham

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KMac🍌 ⏩ pfp

Sounds like a few characteristics from the abandoned amps idea. When hubs are rewritten (when polymarket on that? 😆), something like an amp ‘token’ should be baked in. Keep pulling this thread!

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