"One source, who requested anonymity due to the constraints of his business, told me that, like most protocols, he expects that Farcaster will launch a token"

really curious about who this anonymous source is. 👀

"One source, who requested anonymity due to the constraints of his business, told me that, like most protocols, he expects that Farcaster will launch a token"

really curious about who this anonymous source is. 👀 

https://fortune.com/crypto/2024/06/14/crypto-social-media-platform-farcaster-has-about-50000-daily-users-so-why-is-it-valued-at-1-billion/

crypto-anarchist · onchain social explorer, curator, advisor · host /luo · write 0xluo.xyz

Very interesting. What would be a native token to Farcaster? I would imagine Degen is it, unless they are going to overtake that ecosystem here and turn it into something different

Degen is currently considered the circulating token in the Farcaster ecosystem, but there can also be various tokens similar to degen on Farcaster. Moreover, Farcaster itself does not expect to profit from issuing tokens. Therefore, issuing tokens on Farcaster may not be so necessary.

if the fundraising amount is real, issuing a token is necessary from the VCs perspective, otherwise, how to explain the investment?