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@coopahtroopa.eth
I believe a big reason FC is not seeing more growth the last few months is due to a lack of interest and acceptance of trading and memecoins being the dominant narrative this cycle. FC's infra is best suited to be the defacto home for token projects and yet we see very very little projects doing so. I understand and appreciate the commitment to building, adoption and sustainability. I also recognize that 99% of memecoins will go to 0 by the end of this cycle. However - the current approach is making FC feel like a place that has an entirely different set of convos, most of which are not currently EV+. I say this all as someone that cares deeply about FC and it's growth but think it's important we recognize that crypto-natives on Twitter do not see value in being on here and that feels like a problem to me in the context of the next 12-24 months. It is unlikely that FC just leapfrogs crypto-native adoption and gets an influx of mainstream users without winning the wider crypto crowd over first.
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@zinger
Farcaster is a social network protocol. Anyone is free to build apps, frames, actions, etc. to lean into memecoin trading (some are). If you believe that memecoins are so important then go start a channel focused on them and build a community (or join one of the many existing ones).
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@coopahtroopa.eth
I'm building a company predicated around bringing liquid markets to music. Running that channel is already *literally* a full-time job in and of itself. I spend the vast majority of my personal time onchain trading memecoins - there's no point in me running a channel and building a community around it when it's clear that energy being spent on Twitter results in much more favorable insights and outcomes. Trading memecoins feels stigmatized on here and that's the core issue I'm trying to highlight.
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@zinger
What do you want to change? You can cast more about memecoins if that's how you feel, right? You can't change the culture of Farcaster and fwiw I think this place would suck if the whole culture was focused on trading shitcoins vs. the wide variety of channels that we have today.
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@coopahtroopa.eth
What I want to change is more people using the app. I do cast about memecoins - it gets very little engagement because it is not a desirable topic on here (which I recognize and understand why) I'm not asking for the whole culture to be about trading shitcoins. I'm pointing out why I think DAUs has stalled specifically in crypto and it's unclear what the path towards a new leg of growth looks like in the absence of token projects calling FC home (which inherently requires a lot of convos about token price, market cap etc)
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@zinger
Appreciate the measured response. I think that the reality is most people don't care about trading memecoins (or at least don't care to talk about it). Most trading convos I see are in more curated or private settings which makes sense because you can't really share alpha broadly or else it's no longer alpha.
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@coopahtroopa.eth
Disagree - trading memecoins is the content getting the most engagement and attention on crypto twitter by far right now. People posting tickers they're excited about, memes or those tokens, screenshots of PNL. Here's a good example of a video today I found really funny that isn't a specific trading video but very clearly about memecoins and the idea that regular people are more likely to understand them https://x.com/rasmr_eth/status/1793322745368834132
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@zinger
So share more of that here if you like it! I'm not sure what Farcaster as a protocol can really do to make this a more attractive place for traders to talk about memecoins, Twitter is already fine for that. It's really wherever you can find your people and I think channels definitely help with that (which is why I recommended starting or participating in a channel above).
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@coopahtroopa.eth
This convo has nothing to do with Farcaster as a protocol. I think FC has the single best protocol to accommodate and foster very healthy token communities. My north star is that all token projects use channels as their defacto home base over something like Discord or Telegram. In the current state I don't think that is likely to happen and I wanted to vocalize why and what needs to change for that to happen. I don't think you can "find your people" here on FC if you're into memecoins currently and that is a gap that needs to be filled and will likely require a ton more effort than starting a super broad memecoins channel (which by the way was what inspired the largest token on FC if we use /degen as a case study for DEGEN)
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What do you think needs to change for it to happen? What's the barrier for token projects to create a channel and host their communities on Farcaster? /higher /bogus /basedevo etc. are already doing it /degen /shitcoin /memecoins /trading all exist too
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@coopahtroopa.eth
Those channels are pretty much all ghost towns or shells of what they once were. There is no barrier to creating a channel - the barrier is in there being a meaningful reason to allocate the energy and resources there. Using Moonshot as an example - token projects will sponsor $100 free claims to Moonshot users. People need to feel like they can make money as a result of joining a channel on FC. Or that "being early" to joining a channel (like the early days of DEGEN or HIGHER) will actually lead to something. I know I'm not giving very concrete answers - and that's cause I don't have them. I do think expanding the design space for token claims and being able to earn through participation in a channel is FC's biggest opportunity and competitive advantage to traditional social platforms. Showing market cap, holders and key stats on channel pages would also go a long way too.
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