xRev↗︎

@xrev

1300 Following

319 Followers

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While some people argue there's not that many farcaster DAU it's fun to see I rank 62376 on Far Rank Leaderboard by @mvr. I know the far rank isn't in any way an activity metric nonetheless I don't like the fact that my activity is just ignored.

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After some failed attempts I figured how to claim stuff... I just claimed Fan Tokens powered by @moxie.eth cc @betashop.eth @airstack.eth /Channel: memes

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I just won 105 $DEGEN in Gate of Degen! @degengate

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I checked who is replying to me with this @botornot frame by @sayangel. Considering nearly no one replies... Who is the bot replying? 🤔

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Great frame but this isn't for me... Frame by @nikolaii.eth

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While I appreciate and really like the charts from @growthepie, to me it seems that inflated FDV (due new tokens) isn't helping much. If people want to take any conclusion from this FDV chart just look how much it dumps after every bump (new token). Yeah... every new token is increasing the FDV from thin air and profits will push nearly everything down. It's how the market works in this airdrop era. Anyway if you ignore bumps and dumps and avg that thing... it's slowly increasing, just ignore the bumps.

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I got my Moxie Pass! Mint yours to be eligible for upcoming airdrops, grants, Fan Tokens and more! cc @betashop.eth @airstack.eth

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10 Moxie Passes available — mint yours to be eligible for upcoming airdrops, grants, Fan Tokens, and more! cc @betashop.eth @airstack.eth

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Thanks to my top supporters in the current DEGEN season! @wu-tang @simplytofu @dvndraw.eth Frame by @compez.eth

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Refining datasets is usually how I like to look at this things. Even if there's a narrative that can fit the chart there's nothing better than filtering the data to understand exactly whats going on. Since this one isn't easy to understand I'm sharing my current findings. 1) There's nearly 5.7k fids producing more than 1million reactions every day in May (but way less before and after); 2) Filtering those fids out, things look way more organic (somehow following the cast trend). 3) I would guess many of them are bots since they don't have a power badge, they have very few reactions and replies from power badge users, many of them don't have verified wallets and so on. Nonetheless some of them may be real users. I will try to filter those 5.7k fids even more but currently I can't do better.

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Looks like some people have issues with L2s FDV. Just because some L2s are around 10b FDV or whatever it doesn't mean they will stay there and it doesn't mean every other L2 will get close. Currently L2s are fighting for the same population, I repeat... the same, and very few of them (besides Base) will onboard new users. This should be obviously bearish for nearly all L2s, their tokens/dapps and so on (there's nothing bullish about more L2s if the demand doesn't exist). That said, the key factor for success there is organic and sustainable/continuous demand (just like we see on Ethereum), nothing else.

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I started exploring some Farcaster and Degen data and I have to share this interesting patterns on degen... - reactions mirror the market way more than casts (looking for local tops) - casts can work like a lagging indicator (same way moving averages work) From a trend perspective, this means we should see reactions moving first than casts (up or down). That said, for now market players shouldn't expect any reversal but it looks like a good range for accumulation (if interest doesn't push lower than it already did). https://dune.com/degentokenbase/degentokenbase

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Based Merch Shop sharing profits with creators... @nantucket looks like it's something for /verb 🥳

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If it's not clear enough, DAOs are conceptually great but they will never work. I mean they work for some (few) but they aren't DAOs anymore. There's nothing decentralized enough in DAOs. Using smart contracts for voting and even for implementation doesn't make it decentralized. At best it's automation managed by few powerful groups/entities.

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I do believe many projects are ignoring the fact that the farming industry is taking over (since 2021 it's exponentially increasing). It's a different kind of MEV nonetheless those farms will extract as much as possible. Meanwhile many potential users will just not use those projects, chains, whatever, because it's every day more obvious they like and reward the service provided by farms and real users have different goals and values.

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2m weekly active wallets 👏 👏 https://dune.com/watermeloncrypto/base

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Indeed. Just because we don't have billions of daily onchain active users it doesn't mean we didn't reach "mass adoption". What we really need is to onboard more usecases and make it more affordable and easier to use. More organic adoption means real and interest usecases without paying $0.1-$1 in transaction fees.

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Something nearly everyone ignores is that all the L2 chain tokens, all the Eth meme coins and many more tokens will keep bleeding against ETH. They can obviously pump, they can do well for a while but sooner than later we will convert profits and losses into what we believe and trust more => ETH

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ZKsync airdrop is showing us what some of the L2s think about real users, for instance: 'Real people, on the other hand, tend to concentrate most of their wealth in just a few accounts, making their balances much larger compared to bots.' While this isn't exactly incorrect (with new users) it's also a very naive way to look at users. Sophisticated crypto users know very well all the risks + lack of privacy in crypto and quite often they use multiple wallets to experiment with different chains/projects.

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Week isn't over yet but we can say base reached a new Weekly Active Users (wallets) ATH. More than 1.5m wallets used base this week. https://dune.com/watermeloncrypto/base

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