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Dear Farther fam,
We launched only two months ago. Since then, you have:
Published more than 6000 tweets about Farther & Farcaster
Sent more than 66,600 tips totaling 13.3 million $farther
Integrated $farther into dozens of apps, frames, and cast actions.
And we're just getting started. ✨
Many community members have been asking about what's ahead, so this piece is an attempt to scope out the next few months. Let's dive in.
The evangelist system will end as of today. This was a fun and worthwhile experiment, but its value ultimately isn't worth the cost. Tipping within Farcaster is clearly a more impactful feature. And for that reason...
50 million tokens will be reallocated from the evangelist pool to the tipping pool. This will happen on July 1, and significantly increase the average allowance tippers receive each day. The remaining evangelist tokens will be added to the ecosystem pool, which will enable maximum flexibility to fund future initiatives.
Also starting July 1, the tip allowance algorithm will include a new multiplier that scales allowances based on each tipper's $farther balance. 100k will still be the minimum needed to tip, but a multiplier will also apply a scaling weight up to a balance of 1 million $farther.
In other words, if you hold between 100k and 1m, your allowance will be boosted relative to tippers who hold a smaller balance. The final math is still being determined at the time of this writing. It will be published on github and explained in more detail soon.
After the June rewards snapshot (which will be made this weekend), Liquidity bonus rewards will be capped at 2m per LP for the program. The aim of this is to make LP rewards more fair and mitigate negative market impacts of sophisticated LPs who capture the majority of rewards.
Tipping is fun but if we're being honest, it's kind of a one-trick pony (1 $TRICKPONY ).
Also, all Farcaster tipping tokens launched since January are living in the massive shadow of their older brother, the almighty DEGEN.
So Farther needs something new. Something big. Something that will give $farther clear utility and create a symbiotic relationship with Farcaster, hopefully over many years.
I'm happy to announce the something is...
███████! [REDACTED]
Ok, sorry I can't tell you what it is yet. But I can say its an idea I'm very excited about which has received positive feedback from multiple Farcaster veterans. It also is very aligned with Farther's mission of growing the number of quality active users on Farcaster.
That said, I must stress that it is ambitious and will take time to build — possibly months. More will be revealed as it comes together, but in the meantime I'm asking the Farther community for your faith & patience. Rest assured, I'll keep building. ✨
Love, Gigamesh (aka The Godfarther)
*Art by @donmarqvez
Farther
hi farther! would you like to be featured in Coinfest Asia 2024? you may reach out to me at ariben@coinstore.com
I just collected A Farther Horizon ✨ on Paragraph. let's go farther 🙏🏽
@ddongguri my friend @yoraco from https://x.com/RugRadioES a twitter spanish speaking audience. would like to know more about farther project. Any recommended link ?
@joobid.eth quizas te pueda ayudar con lo que necesitas @yoraco , es asi al unico hispano que conozco en farther
https://paragraph.xyz/@farther/farther-toward-the-horizon?referrer=0x97e3b75b2eebcc722b504851416e1410b32180a3 i only read hahaha
Thanks @ddongguri 200 $farther
Oh, buen futuro para farther Oh, a good future for farther. https://paragraph.xyz/@farther/farther-toward-the-horizon
Gracias 5 $DEGEN 😎🎩
Comprame el nft. te deje el link. 300 $farther
@mikep
Good frame
Tiene pinta de que dará paso a un airdrop
No, pero potenciara a los que tienen mas de 100k 50 $degen @alejovivas
En token como tal o en allowances ? 🤔. Te lo agradezco Alex 🫂
87 $degen Great info 👍
Gracias brother. Te mando un abrazo y tu siempre apoyando. 300 $farther
Yes!! Today is a claim day:) LFG🔥 farther✨
Many of you have asked about what is planned for Farther over the next few months. TLDR: - Evangelist rewards ending - 50m of those^ tokens are being reallocated for tipping - Allowance boost will be applied based on your $farther balance - LP bonus rewards will get capped - Big new idea in development 🤐📈 Full details here: https://paragraph.xyz/@farther/farther-toward-the-horizon
i haven't sold my farther and have less allowance than ever 😢 try to spread it out and don't know what i am doing wrong
BASED ✨
I’m disappointed. Evangelism is the whole purpose of the token, no?
Yes but the current model isn't working. We've paid millions of tokens out with little discernible benefit. The idea I'm working on has much clearer utility.
yay!! Lets Go 🆙 😎
300 $farther
What'll be the cap on bonus rewards? BTW seems like bonus rewards not updating ATM.
The cap is 400k per month. Thanks for the heads up. I'll check if there is a bug.
Oh I thought there was a new cap coming. When was cap implemented?
Thanks for the update @farther I had evangelist rewards pending for almost two months and they were due on July 1 as I received my PB two weeks ago. Will I be able to get them?
Yep!
Thanks
Currently are there thresholds re your balance and allowance boost? Other than the min 100k requirement? Thanks @farther
The only thresholds are 100k and 1 million. Between those two amounts, a weight is applied that increases logarithmically up to 1.3x. It is factored into the calculation after everything else (ex: how widely you distributed tips in the past day).
Thank you!
YAAAY! The more farther we hold, the more allowance we have? We are so back!
Let’s go farther✨
Farther fam, in just 2 months, you've published 6000+ tweets and sent 66,600+ tips! Big changes coming July 1: ending the evangelist system, reallocating 50m tokens to tipping, and tweaking the tip allowance algorithm. Plus, something huge is in the works. Stay tuned! - @farther