We're coming very close to being ready to go! It may not have existed at all fourteen days ago, not even as an idea, but > ABC_DAO is live and growing. We have two new Farcaster accounts (https://farcaster.xyz/abc-dao-dev and https://farcaster.xyz/abc-dao-commits) to keep our community informed and to broadcast commits on Farcaster. It may not seem like much, but streaming cryptocurrency tips to builders who work on meaningful FOSS repositories serves to fill a pivotal role in the ecosystem of the future, in which normal people play a bigger role in building technologies that they then use.

> ABC_DAO would not have happened at all if it were not for the development of generative AI that can essentially transform my plain English into working software with a lot of finagling and a few swear words thrown in. The system consists of a token, $ABC, which users can stake to earn a portion of the platform's earnings. Right now, those earnings consist of a Clanker trading pool fee stream and a membership fee, but as the DAO grows it may become possible for us to build software together. If so, the $ABC token will provide a valuable ownership & payments layer that any number of devs and/or Web3 organizations will be able to build on.

I got my start in Web3 on https://beta.cent.co and was pulled into PizzaDAO on Day 1 and later founded PageDAO with my friends from the Libernet project, so I've been around Web3 for many years at this point. The thing that strikes me as special about > ABC_DAO is the way that people respond to the core concept. It resonates, and that means that we're onto something.

The immediate launch of $ABC was not a stellar success, but within a day or so it did pick up and take off. Additionally, it's holding - which signifies that individual tokenholders see something to believe in with the project, that it's an appcoin and not simply just another memecoin.

To me, this is a huge development. My first appcoin, $EMARK, launched earlier this year and yes has done more volume than $ABC thus far, but the struggle on that front has been largely predicated on a UX problem: how do I pipe this service into where people need it? How do I offer options that make sense to whoever it's going to be to pick up the app and begin to use it at first?

The difficult part of entrepreneurship is that you're in a situation where you have to take on risk to get anywhere, but you're small and weak and hence have very little tolerance for failure. You have to sort of move incrementally and pay careful attention to your environment to figure out what to do. For me, that's meant stepping back from Evermark development for the moment to work on the new $ABC concept, but soon I'm going to step back into that and take what I've learned with me. Which, honestly, is kind of amazing - I've learned to use centralized backends to make things happen on the distributed blockchain ledger networks! And, what that means for us today, is full treasury automation for > ABC_DAO - enabling me to not need to take a cut of the token issuance to get paid for developing the project.

What I mean by that is that usually, crypto projects kneecap themselves before they launch by making a bunch of deals with VCs and bankers and other money providers to raise the cash they need to build the product & support it. In Farcasterland in 2025, we have Clanker, which means you can start something, launch its token when you have it hammered out enough, and watch the market response to determine whether or not it's a thing you should keep building.

The feedback we got with $ABC was dramatically positive, which is very exciting, because this was a truly experimental thing for me to spend 2 weeks building. Soon, the whole thing will be live and running and fine and I won't really have to do much with it at that point, which will free me up to hunt down new revenue streams & projects to build for us. And, due to the amount of time I've spent in Web3 to date, that shouldn't be too terribly challenging!

If you're interested in following me here, there are 2 bot accounts, a website that shows up as a mini-app in Farcaster, and a Discord server you can join if you like, anon. That's the technology that exists right now for people to interact with, and then of course we have $ABC as well.

> ABC_DAO is in an interesting position. It's new, but it has some liquidity and the rewards distribution mechanisms are working. Thus far, 0.084 ETH has been distributed to $ABC stakers. This is a nice indication of what is possible with Clanker cryptocurrencies that feed the rewards streams back into the staking flow, first demonstrated by Farcaster users Kompreni & NiftyTime with their project, Tip'n'Earn. $TIPN captivated me when it launched because the "like" mechanism is very lightweight, leading to rapid adoption and the creation of a brand new revenue stream.

I was also a fan of @jacek's $DEGEN project due to the scale it reached and the level of adoption it arrived at. In a way, you could say that $ABC is my attempt at a tipping coin. I think it needs to be sustained by a market rather than by issuance, and that stakers should be rewarded with $ETH rather than $ABC to sell into the market. The reason stakers don't need to get $ABC back as rewards is that they're staking the token already; it's in their interest for the price to stay where it is or move higher so why would they want to sell, driving the price down?

In 2020, when I got pulled into crypto, I bought $ATOM for under $3. It exploded after that, making me a fairly rich man in a very short period of time. Ultimately, that all ended when the $LUNA collapse occurred, leading to the implosion and decline of the Cosmos ecosystem. The appchain thesis was ultimately refuted by the Ethereum developers, who showed the world that $ETH could function as a proof of stake chain and reach new heights of efficiency and interoperability by expanding with Layer 2 solutions while also building out vast new capacity into L1.

$ETH has not had a particularly star-studded cycle this time around, but nonetheless there are real people who are using the technology to do things that were not possible in Web2--we've arrived at a remarkable new period and the technology platform is de-risked for us because we're one cycle further in.

The value of $ETH is its massive liquidity. The market simply does not care if you and I sell or buy. The price is mostly unaffected either way. It's a lot like the dollar, in that regard, at least in comparison to other cyptocurrencies that have far poorer liquidity profiles and move around a lot if there's any action as a result. The key innovation emerging in DeFi on Farcaster these days isn't a new coding language, or a new contract style, or a killer new concept. It's the way that Clanker v4 allows developers to programmatically move $ETH around in response to aligned actions taken using a cryptocurrency that represents the project.

The flows of $ETH are significant not because the price moves, but because it doesn't move more. And in Clanker/Base appcoins such as $EMARK and $ABC, you actually don't need meteoric price ascent to fund a startup or build an application. Instead, as users interact with the ecosystem naturally, paying fees in $ETH even, the appcoin functions as a means of tracking ownership. Not the stripped down concept of ownership we see in corporations, where even a shareholder of McDonald's gets no special treatment at the local franchise, but rather a communal sense of ownership. People don't like to sell their crypto tokens because they don't want to leave their communities. So the markets facilitate the transfer of the token, the bonding curve sets the price of the token, and the price action of the token is something that early stage projects can withstand the volatility of if we're clever enough to build resiliency into our projects.

Our next stop on this journey is simply this: continue building. Friends in the ecosystem have begun to take notice and already, my DMs have other founders in them sharing hope, appreciation, and assistance. The power of the Farcaster community is here, in the common ground we as individual devs and ecosystem participants share when we lift others up and build with a collaborative mindset.

The staking smart contract is working from what we can see thus far, and we've rebuilt the Rewards contract and have been successfully using that as well. The attitude toward the contract that I have is skeptically, cautiously, slightly optimistic. Essentially, staking contracts are a thing I've been fascinated by for years and this is my first real attempt to write one that does something cool. So it's working thus far but a few people with much more experience than I have are looking at it and I won't completely vouch for it until they signal that that would be a good thing for me to do. That said, the mechanism is Synthetix reward debt and our backend streams $ABC to it as developer rewards are earned. We'll use something similar for each partner project we bring in so that the individual projects can be part of the locus of control and take the project management workload off the > ABC_DAO's plate, which helps to keep governance very, very light.

If you want to be a member of > ABC_DAO and you have opinions about how governance should be structured, please feel free to contact me about it. Governance is tough to keep light, but it does well in ecosystems where there are robust economic rails people can build on. My hope is that the building can lead the governance at > ABC_DAO.

- WETH auto-unwrapping (every successful Clanker claim)
- Clanker rewards claiming (daily at 11:30 PM UTC)
- ETH distribution to staking contract (every 6 hours)

- Automatic Farcaster announcements for commits by member devs to supported repos
- Discord server
- Nounspace community chat

- Clanker trading fees ($WETH) → Staking rewards
- Membership fees → Staking rewards
- Clanker trading fees ($ABC) → > ABC_DAO treasury, developer commit rewards

The flow to onboard onto GitHub seems to be working, but I know for a fact we've had a little trouble with it so that's a focus. I'm also working a lot on documentation and on simplifying the interface. If you're a dev or a designer and you have ideas, simply reach out to me on Farcaster and we can talk! At the very least, I can get you added to the repo so you can make commits in your own fork and merge it when the time is right. Or maybe you have an idea for something that needs to exist and you need support or expertise to get the job done. In that case, > ABC_DAO is probably not a horrible place to get a start because there are lots of knowledgeable developers around and you can learn a lot just by watching them.

The base level of > ABC_DAO is the token & commit stream. If the DAO is successful, we'll see the commit stream grow as developers join and then the token may do well. If so, more developers may join the DAO and soon, it could be creating custom software for all sorts of different purposes - all in a completely decentralized way, facilitated simply by sharing information and programming reasonable incentives into the distributed architecture that powers the community.

I'm still working on getting the GitHub link flow completely finished out, so if you read this in the next day or two and want to sign up but have a problem, or if you're interested in getting involved with the DAO and think that testing the software it has thus far is a good way to do that, then get at me on Farcaster! If you need an invite to get in on the action at Farcaster, here's mine: https://farcaster.xyz/~/code/PB4OR7.

I'll be doing some more work on Evermark just as soon as I wrap up this first iteration of the frontend of the > ABC_DAO application so perhaps the first partnership we should explore from the ABC side is actually $EMARK? I'm open to ideas on that and everything else. We've finally more or less got the community infrastructure side of things setup so come say hi! We'll build the future together.