can someone explain the $moxie fan token thing?

proxy studio

Moxie "introduces economic incentives at the *protocol* level"

key features are tokenization ("Fan Tokens"), rewards, and Moxie-denominated economy 

users, channels, and the network (Farcaster) have Fan Tokens that are 
- batch auctioned at TGE for a fixed price 
- trading on a log. bonding curve post-auction 
- serve as utility tokens for users, channels & the network and function within the Moxie rewards system 

example: I earn MOXIE from casts with lots of engagement in /openventures I have a Fan token & the channel has a Fan token. Holders of both would receive MOXIE rewards automatically

goal: grow Farcaster GDP, provide a layer for increased economic activity on the network. 

relevant for users & devs on launch: initial airdrop (10% of the supply), two rounds of retro funding, engagement mining . Basically get involved in Moxie governance, building on Moxie, or stay active building on FC (using Moxie or not) and you'll receive $MOXIE rewards.

icebreaker.xyz/0xen |
https://gallery.so/Oxen/galleries | https://opensea.io/collection/farcats

https://warpcast.com/proxystudio.eth/0xda899730

/new-york by day 🗽 /untzuntz by night 😈 Fan of eating tacos and bringing people together, often at the same time 🌮

I still don’t understand what they are. do I create my fan token? How does it work? Is it an erc 20? people buy fan tokens to earn more moxie?