Over 900 subscribers
I'm excited to announce Farther V2. This is a big change in how tipping works. Its an attempt to alleviate two problems:
User churn
Many potentially valuable users who try Farcaster end up leaving when they don't get enough engagement. There is a great discussion about this problem between ted & nonlinear on an episode of their podcast, many such cases (last 10 minutes here).
Tips feeling spammy
There are many tipping tokens that are all relatively undifferentiated, making many tips seem more akin to spam. See this poll from @dwr.eth
This all boiled down to a question...
What if tips could increase engagement for underrated users while simultaneously make the tips more meaningful?
The answer I've arrived at is to reward tippers based on how well they're targeting users who have the biggest increase to their engagement over time.
It works as follows:
Every time a tip is given, the recipient's OpenRank global engagement score is stored.
Every six hours, the app checks how much the engagement score has changed since the time of the tip, and multiplies the change by the amount of the tip. This is the tip score.
For tips during the season, tip scores of each tipper are summed. This is the Tipper Score.
At the end of the season, every tipper with a positive Tipper Score receives a pro rata share of a rewards pool based on their score relative to the sum of all positive tipper scores.
This essentially makes tipping into a competitive game and pseudo prediction market for increasing qDAU. My hope is that it will make tips more meaningful and less spammy, as each will be like an investment in the future growth of the recipient.
Additional details:
A balance of 100k is still the requirement to receive a tip allowance.
Tips to other tippers are not included
Every tipper will receive the same daily allowance. The aim of this is to make it meritocratic and direct focus to the tipper score & rewards.
No restrictions on tip amounts aside from the daily allowance. No minimum tip size.
Tip recipients must have at least 100 followers. This is necessary to mitigate people from farming allowances with dummy accounts.
The monthly rewards pool will start at 3 million $farther.
Total daily allowance will start by targeting $2000 worth of $farther, determined by the tokenโs price at the time of the daily allowance reset. The target amount may be adjusted in the future. Allowances for most current tippers will decrease, but the benefit is this will enable more tokens for rewards and increase the system's longevity.
OpenRank data has already been syncing for the past week and the website has been updated to display everyones current tipper score. Scores will reset back to zero on August 1st when the new season begins. I welcome everyone to send me your questions & feedback in the meantime. โจ
Acknowledgements: Huge thank you to @wahoo.eth and @russian_acai for their valuable feedback on the design, as well as everyone who reviewed the app idea that Farther V2 started as.
Farther
Today's tipper score dropped by over 100 points compared to yesterday. It's really hard to predict.๐ค Frame by @saxophone55.eth
We still go farther 177 $farther
I'm supporting you through @microsub! microsub is now in public alpha for $DEGEN, with support for HAM coming soon. ๐x234 (Please mute the keyword "ms!t" if you prefer not to see these casts.)
Very useful. Thank you. 200 $farther
How did you calculate the tipper score ? It's for current season or next ?
It seems to be the points that will be used for v2 starting in August. Apparently, it changes based on your OPENRANK score. https://paragraph.xyz/@farther/farther-v2
Yeah have read it already ,much excited for next season , I'd be there !
๐ซก 177 $farther
I don't hav it but Cool frame farther 69 $wild 69 $tree
Farther together fam๐
so hard to predict that saxo haha happy sunday my bro
@saxophone55.eth same with me brotha I don't know how it works but let's go farther together 180 $farther
hopefully we get another boost tomorrow ๐
โจfartherโจ Frame by @saxophone55.eth
I'm supporting you through @microsub! microsub is now in public alpha for $DEGEN, with more tokens coming soon. ๐x233 (Please mute the keyword "ms!t" if you prefer not to see these casts.)
good frame!! 300 farther ๐ x 555
Does tip score must be higher or lower?
Seems like it's some kind of bonus points given in v2. I don't fully understand it yet either... https://paragraph.xyz/@farther/farther-v2
I believe this is an additional bonus for those with an allowance, and it has a ranking system as well. The higher the rank, the bigger the allocation they can get.
wowowow love frame
ใใจใใกใใโจ 190 $farther
Go farther โจโจ
Let's Go farther 22 $degen 69 $tree
I wanna know my tipper score too :(
Farther together fam
Farther we together ๐
Exciting changes coming to /farther. I think it sounds like a great idea! Incentivizing people to help others grow is such a great idea for /farcaster. I love what youโve been cooking @gigamesh! https://paragraph.xyz/@farther/farther-v2
Yeahh I had same thought Although it seems like it could affect a group of people first But it's better for farcaster users
What do you mean, affect a group of people first?
There are many low rank farcaster users on farther The tip score system says it rewards quality casters more yeah? Which makes sense But I've also noticed that there are more low rank users on farther tipping, so they might not be happy at first
You beat me to it while I was typing it out! :P https://warpcast.com/nikdmello.eth/0xa8681f28
It means your allowance depends on your open rank , and your claimable airdrop also depends on how much your open ranked has increased depends on your activity during the season, Am I understand right ?
No you kinda misunderstood. @nikomfer.eth wrote a better cast explaining it than I can.
Your current OpenRank engagement score (not rank) doesn't matter, what matters is the percentage increase over the season, so tippers are incentivized to tip tippees who will gain a lot of engagement score throughout the season! https://warpcast.com/nikdmello.eth/0xa8681f28
Basically, you want to tip people and then promote them is my read on it.
I did see that. Looks like they really want to incentivize bringing in new people.
Yeah, and then also keeping them here which is the really hard part I think. I am definitely going to be shooting for a big part of that prize pool! :P
good updata
Great work and Nice innovative there
Love the new approach, might have to jump into farther
Yeah, I like that it is so closely aligned with the goals of Farcaster. Promoting and helping retain new users.
If we could carry that over to twitter somehow, that could be a game changer. I think ham had the right idea with floaties on twitter
Its a Good update bro, it will help lower ranks to get visibility. Specially the scoring mechanism they provided. Hope we can join next season
The real good person ๐
Yes it's very good idea friend Let's go farther together โจโจ
Tipping rules for FARTHER change next month ... Everything is explained on their doc : https://paragraph.xyz/@farther/farther-v2 I didn't understood anything at all ... According to my tipper score, based on the avg of my tips that didn't make anyone famous, it seems that I will be part of a shameboard for ruining qDAU (WTF is this???) and that you can through rocks at me as I didn't help you to get your 15 minutes of fame ๐ If someone have better understanding of this, please speak now ๐
I feel your pain! Locked down enough DEGEN to get an ok allowance, the bonus is definitely not having to think about it. Also havenโt tried to grok BUILD, HAM etc. ๐ 50 $DEGEN
Yes it seems that only DEGEN is a tipping coin, all other coins pretend to be the next tipping coin at start, but quickly evolve in some kind of "marketing" coin with crazy rules that ask you to dedicate so much of your free time to them that it's a total nonsense ... Thx for the tip Marius :-)
๐
this documentation is not user friendly at all. An ELI5 is urgently needed. @samuellhuber.eth take a look if u can. they could use your skills.
Hey @farther happy to rework your docs if you put out a bounty for it. Else I assume Ryan or Pichi have guides already?
If you don't understand, there is literally no hope for me ๐ 300 $farther
I have no patience when people try to explain me how to tip so maybe you will be better than me to understand this :) Thx for the tip
๐คฃ
Everything gets more confusing and complex every time, my god! This could have been a beautiful app..
Im not even into it ๐ waste on me.
Introducing Farther V2
ํ ๋์ ์ด์ ํ์ ๊ธฐ๋ฅ ์ฌ๋ผ์ก๋์?.๐ค
๋๊ธ ์ง์ฐ๋๊ฑฐ์?
๋คใ ใ
Thank you for good info! 300 $wild
์๋ง์๋ค
๊ตฟ๋์
ใ ใ ใ ใ ใ ใ ใ ใ ์๋ง ์๋ง๋ฒ๊ณ ๋ค์ด์ค๋ผ๊ณ !!!
์๋ง์๋ง๊ท์ฝ๋?