Let me break it down why price action is irrelevant.
Farcasterโs destiny is what @Balaji calls a network state. You cannot have that without a currency. (Need to write on why I think this.)
All the Farcaster clients builders can build around this. Same with the other builders. The OGโs can spend the Degen they were airdropped on quality projects. The token can be worth $0. It can just be for fun. As long as itโs distributed internally and a robust economy is created. Price doesnโt matter.
This place is full of techno optimists and people who want to build and contribute. I have high confidence that we can build a Disneyland for our Disney dollars. It helps us separate Farcaster the protocol and Warpcast. Let Warpcast experiment with Warps. The network doesnโt need to be held to that. Everyone else can experiment with $Degen.
The name $Degen is also beautiful. It means we can be free to spend it and not take it seriously. Thatโs SO IMPORTANT. Itโs important to not take ourselves too seriously and the spirit of $Degen captures that. You combine that with a room full of techno optimist builders and a bunch of people who are incentivized to play in this room (aka users for Farcaster clients and apps.) Holy shit that experiment sounds exciting as fuck!
You get The PERFECT mix of intrinsic and extrinsic motivation. $Degen token is just for fun, I want to build cool shit, but also, holy fck this thing could be worth millions. But even if it isnโt, being Degen is fun, and Top Hats are fun, and fuck this is actually fun.
I don't care how bullish you are on the future Anon, you're not bullish enough.
Syed
Kicking off a bounty: $1000 USDC for the best write-up of $degen history and playbook to date. Will be published on /folklore as a zine-ish essay. Options to participate: send a DM with previous writing samples + abstract of degen paper, or submit full essay. Essay /writer selected by me at discretion. @bountybot
@bountybot complete by @k41r0n
Awesome bounty ๐ฅ
1000 $DEGEN
Not a fit for this bounty but related jic https://mirror.xyz/albiverse.eth/1o1ZqcOLBBmy3beGVyyEhRIbrkTOB8o8OoHYaJQe9dw
this is a great degen recap by @samuellhuber.eth
1000 $degen Thank for sharing, awesome resource
what length are you looking for the bounty? happy to write the recent chapters in a 2nd/3rd page too thanks mate for sharing the essay @garrett
Wrote these back when $Degen first launched. If it helps anyone: https://paragraph.xyz/@thenewfuture/what-dollardegen-can-be-and-why-price-doesnt-matter https://paragraph.xyz/@thenewfuture/is-dollardegen-airdrop-2-the-perfect-incentive-structure https://paragraph.xyz/@thenewfuture/what-makes-dollardegen-so-beautiful
1000 $degen โ awesome! Would you like to apply for the bounty?
I'll leave it for the historians. The future is too bright to pay attention to the past. This is all the equivalent of the few miliseconds after the big bang anyway. I don't have much to say besides the above. There's a reason I called Reserve Currency of the World the day it launched.
@eddie you might be a good fit for this!
Ty!
Someone on /farhackers might be working on this already - if so, get your bounty!
got a few takes on this from /farhackers group! Can you open DMs so we can share a playbook?
Knew the group would come through for this ๐
already 10+ playbooks with new ones submitted every day ๐๐ฆ
Woohoo, this looks like a sweet one. Can't DM you though.
Followed! Feel free to DM!
incoming๐
Let me break it down why price action is irrelevant. Never mind the fact that the market cap in circulation is like 1 or 3 mill or over half of that is with OGs unlikely to sell. Let's talk about what the future of $Degen could be. https://paragraph.xyz/@thenewfuture/what-dollardegen-can-be-and-why-price-doesnt-matter
Definitely matches the vibes I'm getting. socmedia is great & onchain is great - as long as it's cheap for everyone. Fungible & non-fungible tokens are perfect connectors for the 2 worlds. Mix & match socmedia, onchain activity, NFTs & other tokens gives everyone plenty to build & analyze :)