<100 subscribers
I have spent a lot of time trying to understand the algorithm behind the degen tipping allowance. I also do a thread every now and then on Farcaster and people ask me questions. In this post, I highlight some of the most frequently asked questions:
Can I claim Degen tips if I don’t have any Degen tokens
Yes, you can claim your Degen tips even if you don’t have any Degen tokens in your wallet. You only need to own Degen in order to have a tip allowance. You don’t need it to claim your tips.
Can I receive tips even if I don’t have a tip allowance?
Yes, you can receive tips even if you don’t have a tip allowance.
What do I need to do to get an allocation?
To get an allocation, you need to (1) have at least 10,000 Degen in a wallet linked to your Farcaster account (2) have made at least 3 root casts (ie casts that are standalone and aren’t replies to someone else’s cast). You might need to wait up to 48 hours after fulfilling these requirements for your tip allowance to start showing up.
What do I need to do to grow my allocation?
Engagement (ie likes and recasts) from unique users is what you want. You want to have as many different people as possible like or recast your casts everyday. A good way to do this is to cast consistently across multiple channels so you get a diverse audience.
Does it matter if I have casts with 0 reactions?
This doesn’t have any negative effects on the calculation of your tip allowance at all.
Is it better to have one person like 10 of my casts or 10 people like one of my casts?
It is significantly better to have 10 people like one of your casts than have 1 person like 10 of your casts. A significant factor in growing your tip allowance is the number of unique people who recast or like your casts per day. The more users do, the higher your tip allowance
How can I track my remaining Degen Tip Allowance in real-time?
There are a couple of good options but right now, I recommend you check out your live tip allowance on the profile page of Memecaster. They are in TestFlight and you can download the app here.
When does my Degen Tip Allowance Reset?
Degen tip allowances reset everyday around 7.30 am (UTC -8).
Why did my Degen allocation get slashed around March 30?
We call it the Degen Halvening. Every month, tip allowances drop to account for the constant rise in price of Degen. In March, tip allowances were cut by about three quarters (ie 0.7x of February). And in April, tip allowances were cut to 0.357x of March's. This is good since it makes tipping consistent with “mining” curves. (Update: Tip allowances were further cut on April 16, 2024. Moving forward, tip allowances are about 0.15x of February's). A simple table shows the progression:
Month | Percentage |
|---|---|
February (Season 1) | 100% |
March (Season 2) | 70% |
April 1- 15 (Season 3) | 25% |
April 16 - Nil (Season 3) | 15% |
Other FAQs:
Updated the Degen FAQ on my Paragraph https://paragraph.xyz/@aleph/faqs-on-degen-tipping-allowance
Have so much work to do and so many bugs to fix, but most productive thing I can do while flying is write. Finally wrote something I’ve been stewing on for a while: FAQs on how Degen Tip Allowances work. Feel free to ask any questions you have https://paragraph.xyz/@aleph/faqs-on-degen-tipping-allowance
If you can give this a thumbnail image that says something like "How do allowances work?" or whatever, I can add to /houseofdegen.
Ok will do once I land. Won’t have wifi on this flight
Super informative 100 $degen