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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
87 $degen Great info 👍
Gracias brother. Te mando un abrazo y tu siempre apoyando. 300 $farther
Yes!! Today is a claim day:) LFG🔥 farther✨
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 🫂
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
YAAAY! The more farther we hold, the more allowance we have? We are so back!
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.
what about the SCV attached airdrop? It's where all things are going to, it's a pretty nice system overall!
BASED ✨
Let’s go farther✨
@farther I don’t understand that in order for the allowance to grow, do I need to tip people who do not participate, right?
Yep that's how it currently works. The idea is that it maximizes visibility of the project and mitigates people self-tipping to alt accounts.
Got it, so today I will engage in attracting people to this project, I will check so to speak in practice, make a post and mark your account, but there is a problem in bots, because I want to see the current audience, organics, so to speak
Bullish. Farther. ✨
Megabullish
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
300 $farther
Such an honor to use my piece ✨🙏