To understand $Degen, you need to understand Farcaster. The meme coin of Farcaster disguises the absurd levels of influence and power this token would have. On paper, Farcaster is an interesting decentralized social project. Imagine if your profile on Facebook or Twitter was public. Along with your friends/followers lists and posts. You could build your own Instagram and immediately have everyone on Facebook and Twitter already be in your app. No need to get users from scratch. If a user comes, they bring everything with them.
Imagine building your own Instagram, making some changes like time limits and sharing it with your friends. Imagine it becoming bigger than Instagram. Or someone copying your idea and making changes. It’s all fair game. The underlying data is public. There is no company in the middle holding ownership. No one to shut it down since it exists in hundreds maybe thousands of computers around the world.
It’s a new world view of social media. To me it’s inevitable. But even that isn’t what makes Farcaster so special. That alone would be enough but it misses the magic ingredient. The thing that makes Farcaster feel like wonderland. The people. The community.
We in Farcaster love Farcaster. We LOVE it. It’s a magical place to meet all kinds of wonderful talented people. But more then that there is a desire in everyone to contribute to and help Farcaster and our fellow casters grow. We understand this is the future and we’re surrounded by people who also understand. Being surrounded by builders and thinkers and artists who have an optimistic view on what the future could be. Who care deeply about helping each other and the network.
Crypto was one of the central pillars that made all of the above possible. However, our beloved network didn’t have a token. For good reason. There was no point. There was no point in building it to attract airdrop farmers. However, a lot of the builders are in crypto and so it was natural there was a side that was missing. Regulatory clarity being missing meant the founding team couldn’t mess around too much with experimentation in this area.
So you have this network that cares about each other, that is full of builders and entrepreneurs. Some even very connected with the top organizations and teams in crypto and tech. You now give these people their own token to play with. I can’t speak for myself, but I’m looking to spend my tokens on projects built by other casters. I’ve seen lots of casters excited to build stuff for $Degen.
Not to mention the tokens were airdropped the vast majority to the above community. To people who care deeply about Farcaster.
I hope you can see all the ingredients in the above post. Something magical is at work. The $Degen experiment is just beginning. The future of Farcaster hasn’t even left the ground floor. When it does, everyone will be watching. This is the future. It’s an exciting time. If you’re reading this and not on Farcaster yet, it’s time to fix that.
See you onchain anon!
P.S. You can read more about $Degen on the main site: https://www.degen.tips
Syed
Over 300 subscribers
to be clear leaving this bubbling undercurrent unaddressed to fester in the shadows and shame will only result in churn of some healthy, quality and valid contributors to this network sunlight is the best disinfectant official nuanced discussions need to be held, and asap, @dwr.eth, @v for the future of the network
genuinely trying to understand - what's to discuss? they're pretty clear about handling bots (some $$$ to stem the massive tide, filter the bots that pay, focusing on user defaults vs power user tools) they share DAU #s and get slammed regularly if they shared a qDAU # too they'd also get slammed about defining it?
Yeah I’m wondering where to look for this bubbling undercurrent. Genuinely
for starters, go see what @ghostlinkz.eth and @geoffgolberg are trying to discuss
i think the wc team is doing a great job at allowing the protocol to grow neutrally while innovating on client features to improve the quality of the user experience but if @geoffgolberg is right about what he's claiming, that's not good if he's wrong, someone prove him wrong, and we can go back to our memes
i genuinely don't care whether geoff is right or wrong bc it doesn't change the boots on the ground reality that my farcaster feed is useful for me and i can help creators grow with it it's not cope, it's just knowing what battle makes sense for me to fight as a founder + creator here
Would you find it useful if Merkle were to create distinction between accounts and users? https://warpcast.com/deodad/0x6eab7d74
maybe? but honestly probably not "useful enough" that i would want to ask an entrepreneur to do double accounting forever on an arbitrary + moving target that most people will never be happy with lol building shit is hard and making dan tapdance w metrics for us doesn't really improve Farcaster imo 🤷♂️
Here's a piece I wrote back in the beginning of the journey about what $Degen is and what makes it special. It also speaks to what a magical place Farcaster is. I know there are a lot of newcomers here so hopefully this helps you out a bit. 🫡 https://paragraph.xyz/@thenewfuture/what-makes-dollardegen-so-beautiful
🎩 420 $DEGEN
A warm Farcaster welcome to @haydenzadams, inventor of Uniswap!
welcome @haydenzadams !
Welcome! 🤗
Welcome! Big fan of your protocol
Gm @haydenzadams
GM @haydenzadams
Welcome Hayden 🔥 🦄
welcome!
gm @haydenzadams
Welcome! Just used uniswap (for any swap) for the first time a couple of days ago and it was a breeze!
hell yeah!
Wrote about what I think makes $Degen so special (Hint: It's Farcaster.) https://paragraph.xyz/@thenewfuture/what-makes-dollardegen-so-beautiful
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Well written article Syed!
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🎩 That moment when yu searchin "hat" emoji on the PC and you typin "degen" instead "hat"
love the writeup! $degen 🎩