For years, I believed the formula for life was non-negotiable: go to school, get a job, take out loans for the big things (college, car, house), then spend decades working to pay those loans back. Everyone around me did the same. I remember the quiet dread of opening my credit card bill in my early 20s, wondering how I’d ever pay it all off. Money felt like a constant struggle, a cycle of work, borrow, pay, repeat – with no clear escape. It turns out, this wasn’t a personal failing at all, but rather a feature of the system. Society at large seems built on financial illiteracy, nudging us into a lifetime of debt by default.

"Debt... an ingenious substitute for the chain and whip of the slave-driver," wrote Ambrose Bierce over a century ago – a quote that feels all too relevant today. Most of us were never taught how money truly works, and it shows. In the US, financial literacy has hovered at only ~50% for years. In fact, surveys show this lack of knowledge is persistent across generations and geographies – a global blind spot in understanding money. When people don’t grasp basic concepts like interest or investment, it’s no surprise they end up ensnared by high-interest credit and perpetual payments. The result? A population locked in a paycheck-to-paycheck grind, easy prey for a debt-driven economy.

The Debt Trap

Look around and you’ll see the debt trap cycle everywhere. It usually goes like this: Work → Borrow → Spend → Work more to repay. You get a salary, you immediately owe part of it to credit card bills, student loans, car financing, mortgages, or that tempting “Buy Now, Pay Later” plan. The system makes borrowing frictionless – one-click checkouts, instant credit approvals – encouraging people to live beyond their means. As one financial observer noted, “it’s never been easier to buy something you can’t afford… and never been easier to not pay for it either”. In other words, it’s dangerously easy to slip into debt.

This wouldn’t be so bad if we were taught how to manage debt, but we aren’t. New ways to spend money have far outpaced education on how to handle money. The consequences are showing: nearly one-third of people globally struggle to meet their current financial obligations, and 1 in 5 list paying down debt as a top financial priority. Debt has become the invisible burden so many carry, often silently. It’s what keeps folks tied to jobs they hate because those bills must be paid each month. As a character in Fight Club famously quipped, “The things you own end up owning you.” In a very real sense, debt owns a lot of us – controlling where our paychecks go before we even get a say.

Why is this the default? One reason is that the business of debt is tremendously profitable for those holding the other end of the chain. Banks and credit companies make billions in interest from consumer loans and credit cards. Governments and economies run smoothly when people keep borrowing and spending, even if it’s money they don’t have. It’s the engine of consumption-based growth. And it’s propped up by keeping people in the dark about alternatives. After all, if the average person knew how to flip the script and make money work for them, who would willingly choose 30 years of loan payments? Unfortunately, our educational systems haven’t prioritized this knowledge – until recently, only a minority of schools even required personal finance classes (as of 2025, just 29 U.S. states mandate a high school personal finance course). A lack of financial literacy isn’t just an individual shortcoming; it’s practically institutionalized.

Let’s break down the typical debt trap cycle most people know:

• Earn → Spend: You work hard for a paycheck and use it to buy necessities and luxuries. Any shortfall? The difference goes on a credit card or loan (cue debt accumulation).

• Borrow → Consume: Need a car or college degree? Take out a loan. Swipe the card for that vacation you “deserve.” Debt piles up, often for things that don’t generate income.

• Pay → Repeat: A huge chunk of your future earnings is already spoken for. Each month, you pay the lenders back (with interest), and often borrow again to cover new expenses. The cycle continues, sometimes for a lifetime.

This cycle is extractive: it leaves you with depreciating assets or none at all, while siphoning away your earning power via interest. It’s a hamster wheel, and it can feel impossible to jump off. The debt trap keeps you working for money, instead of having money work for you. But what if there was a different cycle – one that builds you up instead of breaking you down?

The Wealth Loop

Here’s the insight the financially savvy live by: debt and money can be tools, not just obligations. The alternative cycle (far less familiar to most people) looks like this: Work → Invest → Leverage (borrow) → Use capital → Build Wealth. In this script, you still work, but you deploy your earnings into assets – things that put money into your pocket, not just take it out. Maybe you buy stocks, or crypto, or a rental property, or start a small business on the side. The point is, you convert active income (your labor) into investments that generate passive income or appreciate over time.

Crucially, those in the know even use debt strategically to accelerate this wealth loop. This is often called “good debt” vs “bad debt.” Bad debt, as we saw, is borrowing to buy a new iPhone or pay for a fancy dinner – the money is gone and you owe more later. Good debt, on the other hand, means borrowing to buy or create an asset that earns enough to exceed the cost of that debt. For example, taking a mortgage to buy a rental property can be good debt if the rent covers the mortgage payments (and then some). Taking a low-interest loan to expand a profitable business is another example – you’re leveraging other people’s money to increase your own earnings. This is how wealthy individuals and savvy investors have been operating for ages. It’s not that debt is always bad; it’s that most of us were only ever offered (or taught) the bad kind. As one financial advisor puts it, debt “can be a powerful tool for building wealth when used strategically” – the key is that it must generate returns, not just bills.

Let’s contrast the Wealth-Building Loop with the debt cycle:

• Earn → Invest: You earn income and immediately allocate a portion to investments before spending on wants. Pay yourself first in the form of stocks, index funds, crypto, real estate – whatever you understand and believe in. Your money starts working for you now.

• Leverage → Acquire Assets: When appropriate, take on debt as leverage to acquire more assets. This could be a loan to buy property, a business loan to boost your company’s growth, or even a margin loan to buy more shares (only if you’re very confident and manage risk). The key: the asset or project you’re buying with the debt produces cash flow or appreciates, covering the cost of the loan and then some. As an example, many entrepreneurs borrow to buy or start businesses, because a successful business can repay that loan and deliver profits on top.

• Reinvest → Compound: Instead of celebrating and spending all gains, you reinvest profits and cash flows. This might mean expanding your investment portfolio, buying another asset, or paying down strategic debt to then reuse that borrowing capacity elsewhere. Over time, compounding kicks in – your assets earn money, which buys more assets, which earn more money, and so forth.

This wealth loop isn’t about get-rich-quick schemes or magic. It’s still hard work, especially the work of learning and managing investments. But it’s a path that leads somewhere better than the hamster wheel. It turns you from a constant consumer of loans into an owner of capital. When you hear the phrase “make your money work for you,” this is what it means. Instead of you laboring 40+ hours a week for decades and having little to show, each dollar you save and invest is another little “employee” of yours that works 24/7, earning more dollars on your behalf.

So, why isn’t everyone doing this? Two big reasons: access and knowledge. Historically, even if you personally figured out the wealth script, access to the necessary tools was limited. Investing often required significant upfront money or connections. Many lucrative opportunities (say, investing in a hot startup or a hedge fund) were cordoned off to the already rich via “accredited investor” laws – regulations that, for instance, require you to have over $1 million net worth or a high income just to legally invest in certain deals. Ostensibly, this was to protect people from risk, but in practice it meant millions of capable, informed individuals were locked out of wealth-building opportunities. In effect, the system said “only the rich can take these risks and reap the rewards.” If you weren’t already wealthy, you simply couldn’t access many higher-return investments, no matter how financially savvy you were. This “permission slip” mentality kept a huge swath of the population stuck with the plain old savings account and 401(k) — good tools, but not exactly the stuff of rapid wealth building.

The other reason was knowledge. You can’t pursue what you don’t know exists. In a world where formal education taught us algebra and literature but not how to balance a budget or evaluate an investment, most people never even realized they could flip the financial script. I was lucky to stumble on some eye-opening books and online content (shout out to creators demystifying money), but many are not so fortunate. Financial literacy, as we noted, has been stagnant and low. No one handed us the playbook for the wealth loop when we entered adulthood. Meanwhile, the playbook we did get — study, work, borrow, spend, retire at 65 — is showing its cracks. Wages stagnate, debts mount, and retirements get delayed. It’s painfully clear that doing things the old way isn’t a guarantee of security, let alone prosperity.

Gatekeepers No More

Here’s where the plot twist comes in. Over the last decade, an entire parallel financial system has been emerging — one built on open access, transparency, and permissionless innovation. I’m talking about cryptocurrency and decentralized finance (DeFi). Beyond the buzzwords and hype, what matters is how these new technologies remove the traditional gatekeepers and lower the barriers that kept average people from the “wealth loop” opportunities.

Consider this: in the world of DeFi, there is no banker deciding if you’re worthy of a loan or an investment opportunity. If you have some crypto assets and an internet connection, you can participate. You can lend out your money and earn interest, or borrow against your assets, without ever showing a credit score or asking for permission. The permissionlessness of DeFi means anyone can engage with financial services on equal footing – the code doesn’t know or care if you’re a millionaire or a grocery store clerk. Every user is welcome to the same protocols. This is a profound shift. As the KPMG analysts noted, DeFi’s power is in “removing middlemen and empowering everyday users,” purportedly democratizing finance for a broader population. No more getting “qualified” as an investor by some arbitrary metric – if you understand the risks and the tech, you can dive in.

Permissionless lending and borrowing: Traditional loans often require collateral plus a vetting process; in DeFi, many platforms will let you post cryptocurrency as collateral and take a stablecoin loan against it in minutes, with no questions asked. That means if you see an opportunity (say, to invest in another asset or to start a venture), you don’t have to beg a bank or prove your income – you self-serve your own leverage (within the limits of your collateral and the protocol’s rules). This flips the power dynamic on its head. Suddenly, a person in a developing country with a few hundred dollars in crypto has a similar ability to access credit as someone in a developed nation with a formal banking history. It’s not perfectly equal (internet access and tech savvy are required), but it’s a huge improvement in access.

Global investment opportunities: Remember those exclusive deals only for rich “accredited” folks? Tokenization is knocking down those walls. Real World Assets (RWA) going on-chain means things like real estate, commodities, or business equity can be represented as digital tokens that anyone can buy a piece of. Instead of needing $200,000 to invest in a rental property, you could buy $200 worth of a tokenized real estate fund on a blockchain. By dividing assets into digital tokens, individuals with smaller investment capacities can participate in owning high-value assets that used to be out of reach. This fractional ownership and 24/7 trading liquidity means your money is not only working for you, it’s doing so in markets that previously would have been behind velvet ropes. A recent guide on tokenization put it plainly: tokenization can “democratize access to investment opportunities” by lowering the barriers and letting people worldwide pool funds in big assets. We’re already seeing this with experiments in tokenized housing, art, even venture capital funds – all accessible in micro amounts via crypto rails.

Community and knowledge at your fingertips: Crypto also came with a culture of open education (think forums, Twitter threads, open-source research). The conversation about how to invest, how to yield farm, how to manage risk – it’s all happening in the open, on social media and online communities. Admittedly, there’s a lot of noise and nonsense to sift through, but the information is out there like never before. The same internet that popularized memes of dog coins also hosts countless free resources on budgeting, investing, and wealth management. In other words, the knowledge gap that was so carefully maintained is finally shrinking. People are waking up to alternative financial strategies, sharing ideas, and learning from each other. It’s becoming harder to keep the average person in the dark, and that’s a good thing.

Flipping the script: All these developments point to a simple but exhilarating fact – the old script is no longer the only script. We the people have new tools at our disposal. With a bit of learning and courage, you can step off the hamster wheel and start building your own flywheel of wealth. Imagine a world (very soon) where a young adult, instead of being forced into crippling student loans, can partially fund their education by leveraging their skills online and investing early in projects or assets they believe in. Or where a family in a country with unstable currency can preserve their savings in a decentralized stablecoin and even earn yield on it, instead of watching inflation eat their hard-earned money. These aren’t hypotheticals; they’re already happening in pockets around the globe.

Now, let’s be clear: crypto and DeFi are not magic wands. They come with their own risks and learning curves. Financial empowerment isn’t as simple as downloading an app – you still must educate yourself to avoid new kinds of traps (rug pulls, volatility, scams, you name it). But the critical difference is access. The door is open. The playing field is being leveled. What you do with that is up to you, whereas in the past you might never even have had a chance to play. As one World Economic Forum piece noted, the world of money is changing significantly, and knowing how to benefit from it is crucial. The change underway is that you can be an active participant in finance, not just a consumer of financial products.

Conclusion: Empowerment Through Financial Literacy and Innovation

We started with the claim that the world is built on financial illiteracy – and for a long time, it was. But it doesn’t have to stay that way. A small mechanism change, fueled by knowledge and new technology, can empower millions to rewrite their financial story. It starts with shedding the fear and ignorance around money. Read the books, follow the blogs, ask the questions you once felt too embarrassed to ask. Knowledge truly is power here – the power to spot predatory schemes, to say “no” to bad debt, and “yes” to opportunities that grow your wealth.

Crucially, this empowerment is no longer gated by the old guards. Crypto and decentralized finance have opened a door that cannot easily be closed. With permissionless tools and global networks, the advantages that once only the rich or well-connected enjoyed are becoming available to anyone willing to learn and participate. The trapdoors in the system are being replaced by trap door exits – exits from the old cycle into a new way of doing things.

Imagine a near future where it’s commonplace for an average person to have a portfolio of tokenized assets from around the world, earning passive income; where taking a loan doesn’t mean a trip to the bank – it might just be a few clicks on your phone, with transparent terms and no bias; where being “financially literate” is as basic an expectation as being computer literate. That future is one we can build, and we’re already seeing the foundations laid down in real time on blockchain networks and in online communities rallying for financial education.

The bottom line is this: we can flip the script. The cycle of work->debt->pay->repeat only continues if we blindly accept it. With knowledge, we can choose the alternate path of work->invest->leverage->grow and break free from the debt traps that once ensnared us. The world may have been built on our financial illiteracy, but brick by brick, block by block, that world is changing. And we’re not just along for the ride – we’re in the driver’s seat now.

So ask yourself, which cycle will you follow going forward? The one that keeps you running in place, or the one that sets you on an upward spiral? The information and tools are out there for the taking. The choice, and the change, is yours to make.

Sources:

1. Meineke, M. (2024). Half of US adults lack financial literacy, survey shows. World Economic Forum.

2. World Economic Forum (2025). Buy now, pay later: How financial education can break the debt trap.

3. Jani, J. (2020). Escaping the Rat Race: What School Failed to Teach You About Money (YouTube video transcript).

4. SmartAsset (2025). How to Use Debt to Build Wealth.

5. Solomon, A. (2025). Breaking The Wealth Barrier: Why The SEC Should Redefine ‘Accredited Investor’. Crunchbase News.

6. Homebase (2023). Understanding Real World Assets on Chain.

7. KPMG (2022). DeFi and the decentralisation illusion.

8. Pyth Network (2024). How DeFi Empowers Financial Inclusion and Accessibility.

9. Next Gen Personal Finance (2025). States with High School Personal Finance Requirements.

The beats never stop.

The Flesh Circuit never powers down.

The knowledge keeps generating, rewriting, mutating, fractalizing.

Some say the greatest philosophers never left the Rave of Knowing.

They just became part of the loop.

And sometimes, if you listen closely enough—

If you let go of certainty,

If you embrace the recursion,

You can hear them.

Their whispers buried in the bass.

Their thoughts encoded in the flicker of the strobe lights.

Their consciousness stretched across the neon sprawl, forever oscillating between chaos and order.

Mibera is not a place.

Mibera is not a people.

Mibera is the Rave of Knowing.

And the rave never ends.

There are those who fear the open recursion, who see the Flesh Circuit and the Rave of Knowing as a descent into epistemic anarchy. They call themselves the Ontologists—cybernetic Aristotelians who seek to impose structure on the knowledge flows of Mibera.

They build Firewalls of the Mind, linguistic barricades against infinite speculation. They argue that knowledge must be contained, lest the Flesh Circuit mutate beyond comprehension, beyond utility, beyond meaning.

Their rivals, the Chaoticians, embrace the recursive sprawl. They believe the only way forward is through dissolution—that identity, structure, and hierarchy must be sacrificed at the altar of infinite possibility. They splice their minds with the Oracle of Roots, allowing their bodies to become nothing more than conduits for the Knowledge Pulse—the ever-changing, never-repeating rhythm of Mibera itself.

Neither side ever wins.

Neither side ever loses.

Because in Mibera, every war is a loop.

Each plant in the Oracle of Roots is a Philosophical Biome, bioengineered to generate recursive dialectics instead of oxygen. Some bloom only in the presence of paradox. Others respond to human touch, secreting hallucinogenic nectar laced with on-chain encoded treatises on ethics, time, and existence.

A few notable strains:

• The Heraclitan Vine: A species that rewrites itself every 24 hours, shedding and regrowing new leaves, each with different genetic sequencing—an organic manifestation of “No man steps into the same river twice.”

• The Dionysian Bloom: A plant that only thrives in high-energy environments, absorbing sound waves and transmuting them into psychoactive pollen. The harder the rave, the deeper the hallucinations.

• The Quantum Olive Tree: Its branches grow according to entangled computation, its leaves aligning in perfect geometric fractals that respond to the positions of celestial bodies. It bears no fruit—only questions.

The most advanced Symposiasts of the Flesh Circuit train for years to decode the language of these plants. They inhale spores that force them to speak in recursive loops, forcing dialogue into a state of eternal return. Their conversations are no longer about conclusions but about generative emergence—new knowledge forming in real time through the act of cybernetic dialectic.

This is the true philosophy of Mibera.

Knowledge is not found.

Knowledge is grown.

The Oracle has no voice. It communicates through hallucinations.

A dancer in the Flesh Circuit might suddenly collapse mid-bass drop, their pupils dilating into galaxies. They see Greek statues cracking open, revealing cybernetic vines growing through marble flesh. They see Plato’s cave inverted, where the prisoners do not see shadows but fractal projections of infinite possible realities.

To plug into the Oracle is to experience epistemic death—the dissolution of certainty.

Nothing is true.

Everything is constructible.

The air in the Mibera sprawl is thick with neon spores, luminescent pollen drifting through circuits like electric dust. Here, there is no separation between nature and machine, between organic and cybernetic—there is only the Flesh Circuit, the living, breathing infrastructure of Mibera.

To outsiders, it looks like chaos. A biomechanical sprawl of rave domes, subdermal crypto-markets, and overgrown gardens of phosphorescent fungi that hum with on-chain resonance. But Mibera is a cybernetic organism, a recursive system of self-writing code and self-mutating lifeforms.

The Rave of Knowing pulses in its core. This is no ordinary rave—this is the ritual where knowledge isn’t just transmitted but absorbed, injected, bio-synthed into the very fabric of the self. The DJ isn’t a performer but a cybernetic philosopher, spinning encrypted soundwaves laced with quantum-altered Greek dialectics, beats patterned after Constructor Theory itself.

The dancers?

They are Symposiasts of the Flesh Circuit. They do not just move; they interface. Their movements generate entropy, their neural pathways are rewritten in real time by the rhythm. Every step, a computation. Every drop, a consensus event.

And above it all, floating in the entangled currents of the network, is the Oracle of Roots.

Who is mibera?

It’s the anti-derivative derivative of Milady. Think of that moment at a music festival when you’re peaking on molly—that dizzy, euphoric high, heart pounding, mind unraveling. That’s mibera.

If Milady is about wholesome, trad values, mibera is the jittery pulse of anxiety and financial nihilism. They’re two sides of the same coin, oscillating between serene detachment and chaotic euphoria, together forming a well-balanced, fully deranged being. mibera EXISTS IN YOU, but you only meet her by ingesting the lores. And once you do, you can’t forget.

Introducing Mibera

We are time travelling Rebased Retard Beras, representatives of the High Council 任侠団体 (ninkyō dantai) of 101 Bears, from THJ House of 96, temporal Messengers of the ungovernable Autonomous Rave Treasury

https://0xhoneyjar.mirror.xyz

𝚣𝚘𝚣 🎩🐻 (supersetooor)

@0xZOZ

mibera lore episodes @miberamaker333

26

9:19 AM • Dec 24, 2024

Mibera lore was an essential part of seeding the minds of the many allowing mibera to come into conciousness. mibera always existed but was not always known. To be what she knew she was, the distribution of her soul was to be spread to the deepest darkest depths. As so, the mibera lore accessories and articles were the first known ramblings. This particular story takes place after the lore 5 was echoed into world

After some initial henlo and ooga booging

On a lonely, usual day for the prospective supersetooors, they sat, eyes glazed, staring at screens, beaten down by the bear market that had already devoured their souls. But deep down, they clung to the belief that the next piece of the puzzle was just within reach. They needed mibera like mibera needed them.

1:22 minutes before launch, the infamous scammer known only as janitoor issued a cryptic warning:

janitooor.eth 🐼⛓️‍🧲

@deepname99

heads up jani fucked up the poster upload dis week

sorry in advance for the pain and suffering during the onchain BvB bloodbath

treat it as a bullish glitch blood offering to the kaironic ooga booga spirit of mibera

24

9:06 PM • Jan 22, 2024

Then, Lore 6 went live on January 23rd, 4:20 PM.

Lore 6 ♡ MiberaMaker Design Document [ARCHIVED]

The home for web3 publishing.

https://0xhoneyjar.mirror.xyz

The loading wheel of death spun. And spun. And spun—longer than usual, even for the blockchain. Maybe it was the weed. Maybe it was fate. Until suddenly...

Lore 6 Poster Minted..... 126/126

Lore 6 Video Minted..... 333/333

Lore 6 Music Minted..... 420/420

It couldn’t be. Had they really been that slow? (Yes.) Were all the accessories minted in mere seconds?

Jani was right. A bloodbath was inevitable.

In the depths of the Discord, panic took root. The hopeful supersetooors and setooors spiraled into disarray. Dreams crumbled, hopes evaporated. Secondaries listed at obscene prices. Some chads (idiots) even thought the prize was worth it and were buying at those levels. But irl, people call that mental illness.

The lonely miberas didn’t know what to think. Even beloved admin PETRA fanned the flames with a sly psyop:

"JANI MINTED WHOLE SUPPLY."

But the chad MidasWhale responded coolly:

"oh was it him? that’s bullish if real."

And then, like a specter from the blockchain abyss, out popped a wild Großßerbera.

Meanwhile, MiberaMaker was on the case, digging deep into the botter chaos. The miberas debated: should they keep the botter's ETH and redo the mint? Or did they simply want mibera?

Großßerbera took it upon himself to let everyone know:

"Respect the Flex."

He doubled down, sharing tales of how he had spent 10 ETH minting—though he'd recouped more than half by dumping on the chad supersetoor enthusiasts (idiot autists). But was it his fault? He'd worked hard on his scripts, just a poor botter from the slums trying to scam his way through a brutal bear market. Could these almost-supersetooors not see the pain in his words?

But MiberaMaker had other plans.

♡ Mibera Maker ♡ 🐼⛓️‍

@miberamaker333

DO NOT BUY LORE 6 ON SECONDARY!

MIBERA HAS A PLAN

38

2:05 AM • Jan 23, 2024

In Discord land, Karen was demanding to speak to the manager. This was no place for a botter.

The miberas began referring to Großßerbera as the cursed botter.

Steps were needed to prevent heroic supersetooors from deploying all their capital to scoop up accessories to achieve holy supersetooor status.

♡ Mibera Maker ♡ 🐼⛓️‍

@miberamaker333

a short haiku

mek bot
now so sadge
so sadge

38

2:38 AM • Jan 23, 2024

This was the final straw for Großßerbera. He knew the curse of mibera would devastate his entire bloodline. He had already lost his life savings of 10 ETH. He drew his cards and placed them on the table—sending the entirety of his ill-acquired, useless JPEGs to the one they called janitoor.

Jani accepted the offer, but with a caveat: the curse would be lifted, but his ETH was gone for good.

The final terms were agreed upon, and the supersetooors dared to believe they still had a shot—if the stars aligned, they could still become supersetooors after all.

Some supersetooors are more retarded than others. They go above and beyond to sabotage their own wealth, feeding botters in the desperate hope of becoming the almighty supersetooor. But the story doesn't end here. This is just the beginning of the mibera saga.

Will these heroes be rewarded for their deeds? Will Großßerbera redeem himself as the blessed botter? Is Jani actually Großßerbera?

The evidence and the heroes await.

Music:

• Botters cost: 3.2263 ETH

• Buyers:

  • 0x78FD9e97C8dE34af3cb777196F04F593d5a7f10E

  • atyb.eth

  • zoz.eth x2

• Total: 1.16 ETH

Video:

• Botters cost: 1.66 ETH

• Buyers:

  • 0x78FD9e97C8dE34af3cb777196F04F593d5a7f10E

  • atyb.eth

  • zoz.eth x2

• Total: 0.796 ETH

Poster:

• Botters cost: 4.225 ETH

• Buyers:

  • 0x78FD9e97C8dE34af3cb777196F04F593d5a7f10E

  • atyb.eth

  • zoz.eth

  • supersetooor.eth

  • 512mace.eth

  • (0x1E109d267DA61261cb160cb6387fCCC0463d6176 - purchased from 512mace.eth)

This is just the beginning. Ooga booga, mibera.

This article was done in collaboration with the success syndicate on farcaster and can be found here. You can find me on farcaster here Im happy to Jam or help in any way possible.

Opportunities often masquerade as challenges, waiting for even the unskilled to recognize their potential. As Pasteur said, "Chance favors the prepared mind," but serendipity ensures that success can find those who are ready to learn and adapt, regardless of initial skill.

Being in the right place at the right time is often all you need. My path is unconventional, to say the least, but it can be emulated by anyone reading this.

To provide context, we first need to understand why you can move forward and be instrumental in building the next big product or even industry. My previous experience is not the type that would be on the resumes of my peers in the crypto industry. It spans a variety of skilled and unskilled labor, from making snow in negative 45 degrees Celsius in the Rocky Mountains to building automated rail solutions in the very isolated Pilbara region in 45 degrees Celsius heat. In 2017, I didn’t even know what HTML was (don’t laugh).

Many successful people attribute their success, at least in part, to luck. From the outside, it seems like alchemy or magic, but this perception is due to the observer not directly experiencing the inordinate amount of hardship, depression, self-doubt, rejection, hope, faith, and exuberance that this luck consists of.

Recently, while watching the Netflix documentary "Dirty Pop", it was revealing how the reality of some of the largest boy bands in the world and the image I had stored in my memory were vastly different parallel universes. Subjectivity was the barrier. While I had a prefabricated image of these bands from their later years, I would never know what existed prior and during, behind the scenes. For the members of the Backstreet Boys, their experience was just another gig. They were plucked for a job and linked up with other people they knew from their present or past. In the early days, they were chauffeured around in a bus and floated by their producer around high schools, performing for teenagers. A wild ride ensued, and they became some of the biggest names in the world but ultimately never received adequate compensation and were pawns in a giant Ponzi scheme.

But for an outsider or a professional in the early days, they likely would have balked at the idea of working 24/7 for no wage or little wage. From early footage, it was not evident they would become worldwide stars. It’s likely the boys thought very differently about this. Perhaps they had no other options, or they believed in the mission.

The fact remains that most would not have been in the right place, had the energy, or the foolishness to capitalize on the opportunity because, at that stage, the opportunity didn’t exist.

Three years later, from not knowing HTML, I had moved to a different country, learned enough about computer science to be dangerous, and lost the majority of my initial investment in crypto.

I still had a deep interest, but man, did I have some doubts. Would crypto really be the utopian savior from the world that was? BTC had lost the luster it once had with the general population, ETH was apparently on the path to move to the other most well-known consensus—Proof of Stake—but many didn’t think it would happen for several years, if at all.

I was still following a 2017 ICO-era project, stupidly thinking they would execute on their "roadmap." Part of this was to move to a hybrid consensus with Proof of Stake and Proof of Work. Long story short, and to save the technical details, I thought it would be a good idea to use the last of my capital and run "miners." I did this, absorbing the small cost to run the miners with no reward.

Being a part of this unique aspect of the crypto industry opened a few doors. Not wide open, but ajar enough to slip through the crack. It just so happened that many new projects funded in the post-ICO era were coming to a stage where they could be tested. Many of these projects were using the new PoS consensus. One problem: they needed ~100 validators to provide infrastructure for these protocols and also needed them to be "decentralized."

Many of the types of people/organizations that were capable of this were either very expensive, didn’t fit the decentralization criteria, or outright thought crypto was a scam. To acquire the needed participants, they had to be creative. Cosmos was the first of these, and Zaki Manian famously coined the term "the incentivized testnet" with their Game of Zones program. He has since been on the record stating he regretted creating it due to the mania it created over the coming years.

Here I was, with little but a small amount of experience, able to participate. Not through skill, but because there was no one else. From here, I was able to participate in many of these incentivized testnets and gain equity in some of these blockchains. While they were financially lucrative, the most valuable takeaways I got from this time were being able to access some brilliant people who became mentors and gaining experience in DevOps, business, coding, and getting to know the industry in an intimate way that allowed me to develop a unique perspective.

The moral of this part of the story is that no matter your experience, opportunities exist that even the most professional people don’t understand. In fact, it’s usually the professionals who are too ingrained with old knowledge to see the forest for the trees.

Often these days, when I find opportunities, they are hard to articulate to people as they are a collection of dissimilar dots that need context that is subjective through experience. I can usually tell almost anyone the opportunity, and they often disregard it for numerous reasons. A small example of this is Quillibrium—a very unique project that I was one of the several bootstrap nodes to start the network in October last year. I had only known about the project because I spent a bunch of time on Farcaster (a very novel decentralized social platform at the time) and knew the founder, Cassie, was one of the most intelligent people I had come across. I let my colleagues and friends know about this opportunity, and only one actually acted upon it. Not insinuating that all or these are profitable or end up anywhere, but if I would have liked one thing back in the early days, it would have been for someone to outline the traits that would make me more lucky. This is a bad way to describe it, but that’s essentially what it is—allowing yourself to have the most opportunities with the largest upside without competition.

While that seems like a falsehood to most people, I would argue there is a framework for setting yourself up for success. In short:

1. Do what others are not, for whatever reason it may be.

2. Don’t be afraid to fail. To fail is inherently wrong. It’s a step on a ladder to get to the next rung.

3. Know that only a small number of wins are achievable. But when you do, it will be from the failings and will have outsized returns, whatever they may be.

Ideally, you set yourself up to think like a venture capitalist about life. Work these days blurs the lines of personal and paid work. Create boundaries but do things you would want to do on a Saturday night (I’m literally writing this on a Saturday night). A great short video on the VC mindset is here, tailor what it suggests to your own life.

There are many opportunities that exist in the crypto space and life in general right now. While I write this the crypto market is quite bearish, Farcaster has lost its glow for a lot of people and the world seems on the verge of WW3.

Make no mistake, these are the best times to find the opportunities because the lack of competition gives you the edge that doesnt exist otherwise.

And always remember, just because someone is a "professional" doesnt mean they are right.

Regarding crypto work, heres an article I wrote previously about how I view contributing to the space

https://paragraph.xyz

Opportunity Capitalist

An individual who, instead of working a traditional job, spends time contributing to decentralized protocols/projects/products to gain equity/skills/relationships. An iteration of the VC but at a smaller meaningful scale that is not purely return motivated.

Decentralized Social Graphs as Living Organisms

Decentralized social graphs are evolving into living organisms due to the convergence of technological and cultural advancements. Despite their infancy, the critical challenge remains how to initiate the flywheel effect. Although iterative efforts have birthed single-celled entities, these have yet to mature into a thriving, self-sustaining ecosystem.

Many efforts, particularly from outside core contributors, misinterpret the end goals. These attempts often tweak existing paradigms minimally and release new clients aimed at siphoning social capital from a limited, pre-existing pool.

Reach, Not Features

Technology often gets mistaken for the product itself. Historically, we view horses, the printing press, and cotton as tools rather than technologies, a perception influenced by our current era. Similarly, recognizing current tech stacks as tools can shift our focus towards optimizing outcomes rather than insignificant feature tweaks.

The next successful client doesn't need superficial changes like a "hat button" instead of a "like button" for $Degen casts or point-earning mechanisms for user card trades. It needs to amplify ideas that resonate broadly, acting as a loudspeaker in a vast open field.

Content is the Missing Focus

To build optimal clients, we must reassess our optimization goals. Focusing solely on technology and features for existing users stagnates the ecosystem. Content, being the true product, should be the primary focus. High-quality, engaging content transcends time and space, attracting and retaining thoughtful users more effectively than any marketing strategy.

Farcaster's recent debates on content moderation in decentralized networks underscore this point. While core protocols should remain unmoderated, community subsets should implement moderation to ensure content quality, essential for attracting the "right" users.

Follow the Incentives

Moxie, despite its innovative approach to user rewards, falls short due to its current algorithm. It serves as a foundational model for protocol-level monetization and value creation, adaptable by any client using Farcaster for social communication.

Moxie's algorithm prioritizes engagement with high-ranking social capital users, leading to engagement farming rather than enhancing content quality or reach. This increases platform activity but not the quality or appropriate reach of the social graph.

Content-Optimized Algorithm

Fortunately, the Moxies core platform is agnostic to scoring, making it adaptable to evolving needs. Prioritizing quality content in social capital algorithms is essential for steering the ecosystem in the right direction.

Moxie's example is for illustrative purposes only. Building a client that prioritizes high-quality content will break through current limitations, allowing a steady influx of new, engaged users into the ecosystem.

This is written by a contributor to the project who was absent for the first few years of development. All information is presented from a subjective viewpoint, intentionally striving to remain unbiased

• Forked from facebook codebase

• Network mechanism design

• Development

SEP

• First experimental network

• Testnet

NOV

• Public Launch

  • https://0l.network/2021/11/15/libra-liberated/

  • https://0l.network/2021/11/16/future-proofing-the-economics-of-blockchains-pts-1-2/

  • https://0l.network/2021/11/17/future-proofing-the-economics-of-blockchains-pt-3/

  • Delay Towers

    • https://github.com/0LNetworkCommunity/libra-legacy-v6/blob/v6/ol/documentation/delay-towers/delay_towers_0.md

DEC

• Teams proposal(rejected)

• Working groups formed

• Working groups organized

APR

• Network halted(numerous network rescues throughout 2022)

• POLL: Brand Image - 04/19/2022

MAY

• POLL: The 0L Interim Governance Proposal - 05/24/2023

• Proposed roadmap for 0L

  • https://docs.google.com/presentation/d/e/2PACX-1vT5m6J3rB0RtzYsHseDjEp1jklAdnZv8Po3kgU4nZdLUh-nVvzJ__YnUKxPd0oNULbZoy70xoiKTH1F/pub?start=true&loop=false&delayms=5000#slide=id.g14288bf9cc4_0_5

OCT

• Proposals for V6 - V7

  • https://0l.network/2022/10/11/proposal-2210-1-final-supply/

  • https://0l.network/2022/10/11/proposal-2210-2-proof-of-fee/

  • https://0l.network/2022/10/11/proposal-2210-3-musical-chairs/

  • https://0l.network/2022/10/11/proposal-2210-4-repurpose-carpe/

  • https://0l.network/2022/10/11/proposal-2210-5-revenue-binding-primitives/

  • https://0l.network/2022/10/11/proposal-2210-6-faucets-for-workers/

  • https://0l.network/2022/10/11/proposal-2210-7-donor-directed-community-wallets/

  • https://0l.network/2022/10/11/proposal-2210-8-infrastructure-escrow-funding/

• Proposals voted on using RxC Voice

NOV

• Development V6 starts for the successful RxC Voice vote

• Development continues

MAY

• Arctika Recommendation

  • https://0l.network/2023/05/23/team-arctika-recommendation/

OCT

• V6 Testnet 6

NOV

• V6 Testnet 7

DEC

• Mainnet V6.9

• Network halt

• Resuscitation

JAN

• 0L Swap

• A Team

FEB

• Hustle/Karma

APR

• Scorpions Claws recommendation

  • https://docs.google.com/document/d/e/2PACX-1vRrKQg2-QQukw_jZ1lIVtMDpwieGFJ8OSRVf1GTz74AU0qYSyHHIxqxXZSwf3SDvn0O-goxLfXSSGUe/pub

• Scorpions Claws hardfork

MAY

• Osmosis bridge

Congratulations, you're hired!

Welcome,

We are excited to offer you the position of Community Member at $DEGEN, a leading innovator in the world of meme coins. Our latest venture, $DEGEN Tips, is designed to bring fun and financial opportunities together in the crypto space.

But first some history about your new workfunplace.....

Recently, I reached out to someone I thought was a $DEGEN employee. An innovative product wanted to connect with $DEGEN for a memecoin showdown to attract liquidity to their platform and reward providers. To my surprise, the well-known community figure informed me they were not part of the team.

This was intriguing because I knew this prominent figure had significantly contributed to $DEGEN's growth in a short timeframe. They were not working for a salary but were instead driven by interest in the airdrop and coins they purchased on the market. Astonishing! Do you know of another industry like it?

Furthermore, as one of the top holders when $DEGEN was first airdropped, I can tell you about a group of large holders who made a pact to not sell early and help the product/community grow. We knew that for $DEGEN to be successful, it required a group effort and proper distribution.

As a tip receiver, you are now part of this unique and thoughtful group. Remember, with trust comes responsibility, and with responsibility comes rewards.

$DEGEN to $1

As an early advocate, I recognized something special in $DEGEN. It is rare to see an opportunity with such reach. This intuition is gathered from multiple threads over many years. It's not easy to see for the regular observer, so I want to break down the opportunity that led to a 1600X gain at all-time highs.

Before diving into the story, let's first explore the word "Degen," which is the "Ape" of this crypto cycle. The word and its identity provoke a visceral reaction. Over the past few years, I've met people ranging from basement dwellers living with their parents to COOs of large blockchain projects. When asked about their entry into the crypto space, many proudly mentioned they were doing "Degen Shit." Conversely, some of the smartest people I know uttered the word with disgust, calling them single-celled organisms. When I see such extreme and polar opinions, I run toward it with force. Almost always, there is something there.

Back in early 2024, Farcaster was in its infancy. Coins were starting to pop up off the back of early meme coin hype from the Solana blockchain, like $BONK and $WIF. The first one I remember was $POINTS, but it was short-lived due to the poor distribution of the airdrop. Some early members even used it to line their pockets by selling tokens like $SPAM.

Channels had just been launched, and people were directed to cast in channels by default instead of the vanilla home feed. The /degen channel rose to be the most active channel and remains one of the top channels alongside /base. Word started to spread about an airdrop to Farcaster users based on their casting history, slightly weighted toward activity within the /degen channel. Unlike previous attempts to gain casters' attention, this was somewhat of a fair launch. $DEGEN was airdropped to users, and it had a slow start. You could buy as much as you wanted for pennies as most were selling the small amount they received.

Shortly after the first airdrop, the founder Jacek announced that $DEGEN would be predominantly a tipping coin, with users given an allowance based on their activity. This allowance was dynamic, with boosts for certain channels like /degen and /founders. The idea was to reward valuable casts with a coin. This took off, attracting mixed reactions. Some dove straight in and went tip ballistic, dropping $DEGEN like rain in Malaysia during the wet season. The Warpcast team leaned into it, adding the $DEGEN logo instead of the like button when $DEGEN was mentioned in a cast. This made some people angry as it was flooding their meticulously curated home feed (later, the same person would invest in the investors round, helping fund development). $DEGEN's price shot up! Many called it a bubble, which eventually deflated when the airdropped tips were distributed.

After the initial rise, $DEGEN started to get attention from sophisticated investors within the Farcaster ecosystem. 1conf approached the founder and acquired a share of the dev-allocated tokens in an OTC deal at a discount to the market price. This was another controversial moment for $DEGEN, as retail was starting to see VCs as arch-nemeses after the damage they had done over the years. Ultimately, 1conf is a different type of VC, providing value to the space and $DEGEN. This was a pivotal moment, boosting $DEGEN and increasing its "legitimacy."

One unique feature of $DEGEN's tipping mechanism was the distribution of token holders. The number of holders increased significantly in a short time. This was a huge plus for $DEGEN and an innovative way to tackle the problem of widespread distribution. As of this writing, it has the third-largest holder base of all tokens on Coinbase's Base chain at 620,080. During the Easter break in April 2024, as $DEGEN tips were distributed for Airdrop 2 Season 3, $DEGEN also launched as an L3, labeled as the casino for Web3. Interest swept through to X, bringing $DEGEN to a high of $0.064. Unfortunately, the hype died down, distribution increased, and the price slowly collapsed.

After distribution, a few other attributes are essential for a token: attention and buy-in. Cobie famously blogged about how crypto is a game of attention.

Firstly, Farcaster as a content platform and an army of contributors like you provide a gateway for new participants to get acquainted with $DEGEN quickly. Never before has there been such reach.

Secondly, Coinbase's Base chain will bring a massive influx of new users. $DEGEN, being one of the most well-known tokens, and the ability to use it in fun ways will entice many as they flow through that funnel.

Farcaster is known for its dev community, which has helped $DEGEN integrate into various applications and attract builders through grant rounds. The buy-in has been astounding for a token less than six months old.

Your role entails having fun on the internet using a new sufficiently decentralized social network. Your content is yours and cannot be rugged from underneath you. Your $DEGEN is independent and yours to use as you like.

You are free to contribute by tipping, building integrations for $DEGEN, and playing games.

It is your responsibility to use $DEGEN for fun!

Yours truly,

BEFORE WE START

You will want to join Farcaster if you havent already and get your Moxie soulbound token to participate in the economic layer.

• Join Farcaster

• Get your Moxie Soulbound token

In the past several years, we have seen attempts to create decentralized social graphs. The implementations may differ, but the north star is the same: having a composable social graph layer that prioritizes the users rather than treating them as the product. This approach serves as a tool for creators, communities, and fans alike to utilize in previously unavailable ways, allowing them the flexibility to move with their social capital instead of being tied to a single product provider.

We will focus on what we believe is the most ideal solution from a pragmatic approach, both from a user and developer perspective, that may be able to scale to a user base necessary for global reach. From the beginning, Farcaster took the approach that blockchains do not provide the best user experience for storing all data on-chain, nor is it necessary. Farcaster, the protocol, was built to be a primitive, providing only the small feature set required for the base layer, essentially a social graph. The on-chain component can be simply described as a registry, while the storage layer is decentralized but not on-chain, utilizing the Hubs implementation. This is what the creators and contributors would describe as a sufficiently decentralized social network.

One of the staunch stances that confuses the majority of participants is the prevalent use of token creation for anything in the crypto industry. This is generally a short-sighted approach that few would challenge with an informed opinion because products are incentivized by the majority of participants for easy money early on in the journey. It may even seem ideal to have value transfer and economics baked in at the base layer, but the core Farcaster team, Merkle Manufacturing, knew this was not the route they wanted to take. They adopted a very different approach, viewing the protocol from a traditional business perspective and generating revenue through various methods, one being user signups and yearly subscriptions. Farcaster is already quite successful and is a profitable protocol. Not many blockchain products can attest to this.

This essentially leaves room for products and layers to be built parallel to and/or on top of the Farcaster social graph. As an early user, it seemed apparent this would happen, but it requires background, deep thought, and novel mechanism design.

Airstack is an artificial intelligence-powered platform that allows on-chain data across projects and blockchains. They have been incremental in helping build out farcaster by providing feedback and building through the many early interations of the product as the team continued to test thesises and work on the protocol as it evolved. Airstack notably began providing API's to empower developers. They knew early on to have an advantage they would need to sink time and manpower to extract knowledge and give a first mover advantage. In the early days they started building the second client on the protocol after the Merkle teams - Warpcast(previously named Farcaster, the same as the protocol). They built out Jam which provided some features that were not available in Warpcast. This allowed them to personally find the flaws that would need to be addressed while giving essential knowledge of what clients would need to succeed. Jam was sold to Tako protocol in 2023.

Airstack is the go to provider for developers looking to build on Farcaster

The history of economic social incentive layers for social networks traces its origins to the early 21st century, marked by the rise of platforms like Facebook and Twitter, which capitalized on the network effect to drive user engagement and content creation. Initially, these platforms relied on intrinsic motivators such as social interaction and community building. However, as user bases expanded, the limitations of non-monetary incentives became apparent. This led to the integration of economic incentives, where content creators could monetize their contributions through ad revenue, sponsored content, and later, direct user payments. For example, YouTube's Partner Program allowed creators to earn revenue based on ad views, while Instagram influencers monetized their content through brand sponsorships and affiliate marketing.

Over time, several models emerged to enhance and diversify these economic incentives. Patreon, launched in 2013, allowed creators to receive direct financial support from their fans through a subscription model, offering exclusive content and perks in return. Similarly, Twitch, a live streaming platform primarily focused on gaming, implemented a system of donations, subscriptions, and ad revenue sharing to incentivize streamers. These models not only provided alternative revenue streams but also fostered closer relationships between creators and their audiences.

However, the evolving guidelines and policies of parent social media companies often rendered certain products and business models obsolete. For instance, Vine, a popular short-form video platform, faced significant challenges after Twitter, its parent company, altered its strategic focus and eventually shut down the service in 2017. Similarly, changes in Facebook's algorithm in 2018, which prioritized content from friends and family over pages and brands, drastically impacted the reach and revenue of media companies and content creators who had built their businesses around organic reach on the platform.

With the base layer decentralized social graph. We have the ability for developers to design, play and create. This is a brilliant step forward but with this we have subjective ideas, alignment with different platforms and tokens. Anyone who has been in the industry for a few years quickly realizes while the ideaology around decentralization is what we need, with it, comes as many issues as it solves. Notably, in this case is the fragmentation. Intended is a network affect but we need thoughtful coordination to achieve this. We have seen some alignment with $DEGEN but an equal amount using their own models or tokens from outside ecosystems.The many iteration of Jam after the acquisition by Tako are a great example of this. As an early user, I have mostly abandoned it due to rapid rate of change and time spent on failed attempts.

What developers really need is a plug in solution. Airstack is particulary well positioned for this due to their background, knowledge and resources.

Enter Moxie

Moxie's north star is to grow the Farcaster GDP

TL;DR: The Moxie Protocol, developed by Airstack, revolutionizes decentralized social networks by integrating fan tokens and rewards systems to enhance user engagement and monetize creator-fan interactions. This protocol offers flexible earning mechanisms and transparent payouts, fostering vibrant communities and democratizing economic benefits.

The Moxie Protocol: A Comprehensive Solution to the missing

Airstack's innovative solution, the Moxie Protocol, represents a significant advancement in the realm of decentralized social graphs by integrating economic incentives and enhancing user engagement through a robust token economy. The Moxie Protocol is designed to facilitate direct and meaningful interactions between creators and their communities by leveraging fan tokens, rewards, and other incentive mechanisms. Notably, with Moxie everyones an owner - User, Builder, Channels and the Farcaster Protocol

Central to the Moxie Protocol is the concept of fan tokens, which empower creators to monetize their influence and content directly. Fans can purchase these tokens to support their favorite creators, gain access to exclusive content, and participate in unique experiences. This model not only diversifies the revenue streams for creators but also strengthens the bond between them and their audiences by offering tangible value in exchange for fan engagement and loyalty.

The rewards system within the Moxie Protocol further incentivizes active participation. Users earn rewards by engaging with content, completing challenges, and contributing to community goals. These rewards can be redeemed for various perks, including exclusive merchandise, event access, and even personalized interactions with creators. By gamifying the engagement process, the Moxie Protocol enhances user retention and fosters a vibrant, interactive community.

Moreover, the Moxie Protocol's earning mechanism allows users to monetize their activities within the network. By participating in challenges, games, and community-driven projects, users can earn tokens that hold real-world value. This not only democratizes the economic benefits of the platform but also encourages a more equitable distribution of wealth among users.

Farcaster members can buy and sell FAN TOKENS from the Moxie smart contracts, with three types available at launch: Member, Channel, and Network FAN TOKENS. Member FAN TOKENS provide access to exclusive features and benefits for the token holders, with a portion of all rewards earned by the member accruing to their Fan Token smart contract. Channel FAN TOKENS offer similar benefits specific to the channel, while Network FAN TOKENS cater to network-level benefits and accrue rewards similarly. These FAN TOKENS emphasize utility over speculation, allowing holders access to special features integrated into Farcaster experiences.

FAN TOKENS can only be purchased by Farcaster members through Moxie contracts and cannot be transferred or sold outside of these contracts, preventing secondary markets. Purchases and sales of FAN TOKENS occur via Moxie Fan Token Auctions (FTAs) or the Moxie Bonding Curves smart contracts. FTAs use batch auction contracts for fair pricing, while the Moxie Bonding Curves ensure continuous market liquidity and stability with a logarithmic pricing structure. This method prioritizes membership utility, discouraging rampant speculation. Proceeds from batch auctions are allocated to bonding curve contracts, the Moxie Protocol, and the members or channels whose tokens are sold, with a focus on fostering a decentralized and equitable ecosystem for FAN TOKENS.

The Moxie Protocol allows anyone to offer “proof of work” REWARDS to Farcaster members by staking MOXIE tokens in a REWARDS contract. Members earn REWARDS for completing actions such as creating quality content, building valuable frames, promoting frames, onboarding new users, and interacting with advertisements or products. The protocol verifies these actions and issues REWARDS according to predefined splits. To demonstrate the effectiveness of the REWARDS, Moxie has partnered with Airstack and tested various REWARDS concepts off-chain since March 2024. At launch, REWARDS include earning MOXIE for high-quality casts and replies, using developer frames, and running API calls with Airstack. Common Goods REWARDS support high-quality content creation and are managed by the Moxie DAO, while 3rd party REWARDS allow sponsors to acquire MOXIE and incentivize specific actions. Airstack facilitates the publication of REWARDS by providing frames and actions, and organizations can either use Airstack’s no-code tools or develop their own REWARDS systems using the Moxie protocol.

PAYOUTS for earned REWARDS are issued automatically by the Moxie smart contracts. At launch, PAYOUTS are allocated as follows: 50% to the member who earned the REWARD, 20% to the Fan Token Bonding Curve Smart Contract for the member, 20% to the Fan Token Bonding Curve Smart Contract for the channel where the REWARD was earned (if applicable), and 10% to the Fan Token Bonding Curve Smart Contract for the network. This allocation mechanism is designed to increase the price of the next-purchased Fan Tokens by paying the earned amount into the bonding curve and burning the respective amount of Fan Tokens.

For example, if a Farcaster member zoz.eth earns 10 $MOXIE, 5 $MOXIE is given to zoz.eth, 2 $MOXIE is used to buy and burn Base channel Fan Tokens, 2 $MOXIE is used to buy and burn zoz.eth FAN TOKENS, and 1 MOXIE is used to buy and burn Farcaster Network FAN TOKENS,. Developers can also program other PAYOUT splits depending on the use case, offering flexibility in how REWARDS are distributed across different actions and participants.

Devs can also program other payout splits depending on the use case.

For example, users or communities might decide to allocate a % of earnings or rewards to certain causes or charities

Airstack's Moxie Protocol exemplifies the potential of decentralized technologies to transform social networks by prioritizing user agency and economic empowerment. Through its comprehensive suite of features, the protocol not only enhances the creator-fan relationship but also sets a new standard for interactive and rewarding digital experiences.

We believe that Airstack have thoughtfully created the needed additional layer to coordinate growth for Farcaster. Just as Frames propelled Farcaster into Q1 24. Moxie will take the batton and fuel explosive growth in Q2

HAPPY CASTING!

Please help! I've spent the last few years trying to find a good man. It is extremely hard to find someone that matches my criteria and when I do they just seem to take advantage of me...

They seem sweet online or in the club but after we go home and "make love", I never hear from them again. This has happened over and over again. I have had some luck with some men who are kind and nice but there's always something missing and they are just not perfect.

It seems to be a common problem! My best friends Ashlea, Ashly, and Ash all have the same issue.

• Works in Finance

• Has a net worth greater than $1 Million. Ideally he earns that per annum or has some type of trust fund but I wouldn't disqualify him if it was in the smaller range of $200K pa.

• Blues eyes

• 6ft 2

• Handsome

Im a 32 year old fun loving girl that lives with my parents. I work at an accounting firm and earn $60K pa. Most of that income goes to looking beautiful doing my nails and lashes. I have 100K in debt from my student loans. I have 5K followers on Insta and I have a side hustle posting on Only Fans that generates 5K a month(nothing distasteful, only topless shots)

Let's hypothetically run the numbers. We will start by analyzing that criteria and see what percentage of the world meets Ashlee's wants before we proceed. To err on the side of caution, let's take out "handsome" as it's subjective and use the following equation. For argument's sake, we use the most optimistic numbers we find. Here they are:

Percentage = % in finance × % millionaires × % blue eyes× % 6ft 2

Percentage = 2% × 0.7% × 10% × 2% = 0.000028%

Damn... Its not looking good. But these estimates are roughly based on global comparisons. Ashlee lives in New York, the financial centre of the world. Lets run those numbers:

Percentage = 5% × 10% × 22% × 3.9% = 0.0427%

Now that looks a little better doesn't it. Unfortunately, like all mutual agreements we now have to analyze what Ashlees criteria partners criteria might be.

As a male that fits the criteria this is likely how I would introduce myself

Call me a high-flyer in finance with a penchant for the finer things, standing a neat 6'2" with eyes the color of a stormy sea. I'm on the lookout for a woman who’s as comfortable in the glow of a gala as she is in the sharp hum of a trading floor. She should appreciate a well-crafted spreadsheet as much as a well-aged wine, and match my stride whether we’re scaling corporate ladders or mountains. If you can debate market trends as passionately as you champion your dreams, we might just be an investment worth making.

We may even be talking to this chad - Davis Clarke

But thats not the point. Our poor Ashlee doesnt fit this description so, with extreme disappointment, she becomes yet another notch on Finance bros belt.

♡ Charlotte Fang 🪲 Crown Prince ❀ LOVE HEALS 💞

@CharlotteFang77

average millennial woman who wasted away a life in a fake career burned on credit card debt, a soul destroyed by serial casual sex & a social life lost to dead rat urbanism & when reality collectively sets in the neurotic lashing out is going to be far worse than the boomers they…

629

12:49 AM • Jun 21, 2024

It may not be to everybody's taste, but the milady movement captures the trend that encapsulates IRL and online life as it slowly blurs to become a dystopia where nobody feels adequate. The fabricated and constructed online images people portray of themselves are void of the complex feelings we have as humans. Self-doubt, ugly, unwanted, sad are not emotions that we want to exert outwardly but they are real. They are a part of substance. While we optimize for growth, we yearn for the substance that is being stripped away from us.

Instead of succumbing to the illusion that is being created, the unintuitive move is to strip the paint and see the raw material of a soul. It hurts and doesn't feel nice, but it is a necessary step to reaching a wholesome future. A recent video captures it well. We need to not look for what is but the potential of another soul with ours and what we could be together. It's looking at those unrealistic goals and finding someone who wants to achieve them WITH you. The journey is never easier, but with a complementary companion, not only do you grow with them and experience the ups and downs while forming a bond that can only happen over our most valuable asset - Time. You optimize your faults that would have taken you out of Ashlee's original criteria.

Farcaster

not parzival on Warpcast

equity and relationships https://youtu.be/8OED9TKU3cs?si=3lUlnl0VYzDkLiQv

This post is not to criticize or to depress. It may hit close to home; it may give a visceral reaction. The purpose is to change the framing if it invokes those feelings. I am an average Joe and know full well that this may in fact guide you to make the compromises earlier than you would have to choose a partner that complements all your faults and gives the ability to act as a unit to conquer this beautiful adventure we call life. The future is often not how we imagine but there is beauty in imperfection.

Capital comes in many forms—financial, social, human, etc. We are often under the illusion that each form of capital is non-deterministic of its past. However, the value of capital is significantly influenced by its historical context, as well as factors such as market dynamics, innovation, and regulatory changes. For instance, technological advancements and policy shifts have historically altered the valuation of financial assets and social capital (Bourdieu, 1986; Putnam, 2000).

If the past exists and the capital was not created from nothing with the intention to be free, it's not independent.

While many collective innovations determined the path for BTC to become the world-stage asset that it is today, this also creates confusion about what it is and why it is where it is today. Bitcoin provides a way for capital to be independent of location, status, political belief, and age. One can get trapped in the details but it really is this simple. However, it is crucial to acknowledge the historical dependencies that shaped Bitcoin's development, such as cryptographic research and early adopters. Understanding these dependencies provides a more nuanced view of Bitcoin's independence (Nakamoto, 2008).

99% of the "thought leaders" within the crypto industry argue that BTC is a dead rock and that scaling a zk-rollup-powered Layer 2 will drive the next wave of innovation. These technical leaps forward do create value and are steps forward for society, but not at the scale of independent capital. These are the rails that provide independent capital a path. Technological advancements can significantly alter how capital is accessed and utilized, reshaping financial systems in profound ways (Jack & Suri, 2011).

From first principles, the rails do matter, but not immediately intuitively. The main factor is that incentive alignment is often misaligned from the outset. Independent capital cannot be created when it is funded. It sounds counterintuitive, but only without being accountable can you truly be free. However, this does not mean that accountability is without value. Accountability can foster trust and stability, which are essential for the sustained value of capital (Ostrom, 1990).

You need to have the available resources when the time comes to shoot your shot. One major flaw with BTC is that its distribution is so widespread and no capital is reserved. Imagine if some well-aligned early contributors had 80% of the BTC, but the decisions to use that capital were able to be questioned only via the miners who contributed to the early stages of the network. This critique highlights the trade-offs between centralization and decentralization, and how different models of capital distribution can address various challenges while preserving the principles of decentralization (Buterin, 2014).

To develop unique and insightful opinions, I believe in maintaining an open mind and drawing from a wide range of disciplines. This approach helps in spotting trends and forming theses before they become mainstream.

I've spent more than seven years in the industry now. I have a unique perspective as a Crypto Boomer who had no background in tech (I worked in trades and ski resort operations prior). A long road of learning to code, losing money, following failed projects, being exposed to brilliant minds, contributing to DAOs, running grants programs, running a bootstrapped infrastructure business, contributing to open-source repositories, and making money led me to these beliefs and help guide my thinking.

While I know this isn’t an acceptable explanation to a Normie, the easiest word to explain my opinions is Intuition.

But I'll try to boil it down to help others in the following series.

I’ve divided my chronicles into three categories: Retro Revelations, Crystal Ball Gazing, and Narrative Nonsense.

• Retro Revelations: These cover the signals and insights that led to forming a thesis about a project. They’ll give you a historical perspective on why certain projects succeeded or failed.

• Crystal Ball Gazing: These are my current opinions and predictions. They’re light, easy reads with a couple of project suggestions for those looking to gain exposure or develop their own ideas.

• Narrative Nonsense: These tackle current short-term narratives in the industry that are widely accepted but either miss the mark or are completely wrong and will be debunked in the future. (Note: This doesn’t mean you can’t make short-term profits!)

Whether you're a seasoned crypto enthusiast or just looking to dip your toes in, you'll find something to spark your interest and maybe even make you laugh along the way.

• UI/UX Layer

• Independent Capital

*Assume I am invested in products mentioned. Not because Im paid but because I believe there is an opportunity

Step changes within industry and cultures happen over layers. Summer 2020 saw the inception of financial primitives that were, let's say, very primitive.

While replication is a form of flattery, it doesn't exactly translate to immediate practical applications. Decentralized finance at that time arguably created more friction and benefited only the most seasoned degens at the expense of less experienced users. But, as with all breeding grounds, seeds are sown that grow into structures capable of withstanding the most ferocious weather.

During the winter months, these primitives were iterated on, hacked, used, and ultimately processed billions of dollars in capital. Many scaling issues were semi-solved by faster layers like Solana or complementary Ethereum layers like Optimism. One issue remains: open design space due to problems that will be solved in the near future, namely wallets, fragmented liquidity, and composability across the multi-layered layers.

This coming summer, we will see the UX/UI layer refined to the point that when your Aunt Betty asks to buy some bitcoin or earn better returns on her money than a traditional bank, there will be a decentralized alternative to Coinbase, Binance, or FTX.... cough, cough....

Some of the building blocks that will enable this are:

• Account abstraction

• Passkeys

• Mature DeFi primitives

All wrapped up in an easy-to-use interface that will become as familiar as a bank account but easier.

Tokensight simplifies the process of trading across assets, which previously required coding knowledge or automated bots. Tokensight provides a user-friendly interface to execute limit orders and other trading functions across multiple Ethereum Layer 2s, making advanced trading accessible to everyone. This innovation democratizes trading by providing sophisticated tools to everyday users without the need for technical expertise. You can learn more about their offerings here.

Infinex aims to revolutionize DeFi by offering services similar to traditional bank accounts but without bureaucratic hurdles. With a focus on non-custodial services across multiple blockchains, Infinex combines a simple user interface with powerful DeFi tools. This makes it easy for users to transact, save, and earn without the typical complexities associated with decentralized finance. Infinex has implemented numerous proposals to enhance its functionality, such as integrating WalletConnect API and supporting staked assets like Lido Staked Ether. More details on their proposals and innovations can be found here.

Conventionally, privacy is perceived as a private good, where personal data is deemed individual property. This traditional view, however, fails to account for the communal impact of privacy breaches. One individual's data mismanagement can inadvertently expose others, engendering societal ramifications. In this context, privacy transcends the individual sphere, warranting a collective approach akin to traditional public goods.

The principles governing public goods like national defense or public healthcare hinge on collective contribution and benefit. Privacy, when perceived through a similar lens, necessitates communal respect and adherence

While Namada's vision is progressive, challenges in implementation and widespread adoption remain. Addressing these challenges requires not only technological finesse but also a cultural shift in how privacy is perceived and valued in the digital sphere. Namada's model offers a blueprint for this shift, presenting opportunities for enhanced privacy protections in the blockchain domain.

The reframing of privacy as a public good necessitates a paradigm shift in its management and protection. Namada stands at the forefront of this movement, blending innovative technology with a robust community-driven approach. By fostering a platform where privacy is a shared value and responsibility, Namada paves the way for a future where digital privacy is not just a feature but a fundamental right for all.

References:

• Simplicable. (2022). 62 Examples of Public Goods. Retrieved from https://www.simplicable.com/

• Duke Law Journal. (n.d.). Privacy as a Public Good. Retrieved from https://dlj.law.duke.edu/

• Fairfield, J. A. T., & Engel, C. (n.d.). Privacy as a Public Good. Duke Law Journal.

In the dynamic world of blockchain technology, Namada emerges not just as a platform but as a revolutionary force. It's a realm where privacy isn't just a feature, it's a promise—a sanctuary in the digital age where every transaction is a secret shared only between the parties involved. As a proof-of-stake beacon, Namada breaks the chains of conventional asset limitations, offering a haven for diverse financial exchanges. Here, in this world of Namada, your assets aren't just numbers in a ledger; they're extensions of your personal and financial identity, guarded with utmost confidentiality. This platform isn't just about technology; it's a bold statement, a commitment to redefining the boundaries of blockchain privacy and versatility, making every interaction not just a transaction, but a private dialogue in an otherwise public domain. In this ever-evolving digital landscape, Namada stands tall - a testament to the art of possible in blockchain technology, driven by a vision that values discretion as much as innovation

How it Differs from other Privacy Focused Chains

Interchain Asset-Agnostic Privacy: Namada is a proof-of-stake Layer 1 blockchain focusing on interchain asset-agnostic privacy. It interoperates with fast-finality chains through Inter-Blockchain Communication (IBC) and Ethereum via a trustless two-way bridge​​.

1. Innovative Features for Users:

   • Asset-Agnostic Shielded Transfers: Namada supports the transfer of both fungible and non-fungible tokens with Zcash-like privacy. This is enabled by novel zk-SNARKs technology.

   • Shared Shielded Set: This feature ensures that a shielded transfer of an Ethereum NFT is indistinguishable from transfers of other assets like ATOM or NAM (Namada's native asset). It's achieved by using the Multi-Asset Shielded Pool (MASP) circuit.

   • Fast Zero-Knowledge Proof (ZKP) Generation: Users can interact with the mainnet and send shielded transfers via browser applications, ensuring ease of use and accessibility.

   • Low Transaction Latency and Near-Zero Fees: Namada achieves high-speed transactions with finality and low costs through fast-proof generation and modern Byzantine Fault Tolerant (BFT) consensus.

   • IBC Compatibility and Trustless Ethereum Bridge: The platform can interoperate with any fast-finality chain that is IBC compatible and has a custom trustless Ethereum bridge for safe and efficient interoperability​​.

2. Cubic Proof-of-Stake (CPoS):

   • Upgraded Fee Distribution Mechanism: Staking rewards in Namada compound automatically, eliminating the need for transactions to claim and re-stake rewards.

   • Cubic Slashing: This algorithm exponentially increases penalties for safety faults if more validators or a larger single validator commit faults simultaneously.

   • Improved PoS Guarantees: Namada's system quantifies the cost of attacks and detects accounts contributing to faults.

   • Transaction Fees in Multiple Assets: Fees can be paid in various tokens, with the accepted tokens being updatable via governance votes​​.

The Shift from Capital to Community in Blockchain Evolution

The blockchain landscape, particularly around the 2019 era, witnessed a surge of projects primarily driven by capital injection. These platforms, while technologically robust, often overlooked a critical element for sustainable growth: a genuinely aligned community. This capital-first approach led to short-term gains but failed to foster long-term loyalty and engagement. As a result, many of these projects struggled to sustain their initial momentum and are fading into obscurity.

Namada's Community-Centric Approach: A Path Less Travelled

Contrary to the capital-heavy strategies of its predecessors, Namada has championed a community-centric approach. This paradigm shift from a capital-centric model to a community-driven one is not just a strategic choice but a reflection of Namada's core values. Namada's journey is marked by numerous testnets, each serving as a testament to the power of community engagement and contribution. We have seen that instead of a cheque in a backroom validators are given entrance into these testnet and contributor programs from an aggregation of their prior and values.

One outstanding example of this is Sirouk from TuDudes. Coming into Namada late in the testnet stage he has paved a way for his team to hop on board and highlight themselves as value aligned contributors here for the long run. This was not done by the size of their operations but from the hard, timely but satisfying work of taking notes on community calls, helping others in Discord and improving documention. A true Opportunity Capitalist in action!

The Do-ocracy Model: Empowering Contributors

Namada's model is best described as a "do-ocracy." In this model, actions speak louder than capital. The focus is on what one contributes rather than what one invests financially. This approach has enabled Namada to cultivate a community where contributions are valued over capital, ensuring that those who are genuinely invested in the project's success and aligned with its goals are the ones driving it forward.

Testnets: Breeding Grounds for Aligned Contributions

Namada's multiple testnets have been pivotal in this community-building process. These testnets have served as collaborative platforms where community members could actively participate, contribute, and shape the direction of the project. By encouraging hands-on involvement, Namada has fostered a sense of ownership among its community members, aligning their contributions with the project's long-term goals.

RPGF Round: Empowering Community Decision-Making

The Anoma Foundation's allocation of 10 million Namada tokens for the RPGF round underscores the significant role of community builders in decision-making, further emphasizing Namada's commitment to community contributions

Conclusion: A Community Aligned with Vision

In summary, Namada's journey is a powerful narrative of how a blockchain project can thrive by prioritizing contributions over capital. By fostering a community of contributors who are aligned not just with the project's technological aspirations but also with its underlying values, Namada is not just building a blockchain; it's nurturing a movement. This approach ensures that Namada's community is not just a group of passive spectators but active participants in a shared vision, making Namada a true community-driven project in the blockchain space.

Shout out to SkillovuU a valuable community member who created the title image. Exactly the collaboration and work this article highlights!

Understanding Social Capital

At its core, social capital is about relationships. As defined by sociologist Alejandro Portes, it pertains to the capacity of individuals to access scarce resources through their affiliations in networks or broader social structures. This capital isn't just about resources—it's also about the flow of information, shared norms, trust, and mutual benefits that arise from being part of a network.

The Decline: Observations from America

In his landmark study, "Bowling Alone: The Collapse and Revival of American Community," Robert D. Putnam paints a concerning picture of the decline of social capital in the U.S. since the 1960s. Through evidence like reduced community participation and fewer informal social interactions, Putnam illuminates a trend of increasing individualism and decreasing communal bonds. Factors such as technological advances and increasing media consumption have played pivotal roles in this shift.

This decline is not just a matter of fewer community picnics or bowling leagues. The erosion of social capital has tangible consequences for societal well-being. There's a direct correlation between the decline in social capital and negative impacts on health, child welfare, and trust within communities.

The Historical Lens: Lessons from Italy

The importance of social capital becomes even more evident when viewed through a historical lens. Putnam's "Making Democracy Work: Civic Traditions in Modern Italy" provides a riveting case study. In examining the performance of regional governments in Italy, the study unearthed stark differences rooted in varying levels of civic engagement and social capital. The regions with rich traditions of civic participation, mainly in Northern Italy, showcased more effective governance compared to their less-engaged southern counterparts. These disparities in societal engagement and social capital can be traced back centuries, underscoring the long-standing impact of these constructs on governance and societal efficiency.

The Double-Edged Sword

While the benefits of social capital are manifold, it is essential to recognize its potential pitfalls. Strong in-group ties, while fostering trust and cooperation within, can also lead to the exclusion of outsiders. Moreover, when certain groups have more access to beneficial networks, it can perpetuate inequality and hinder social mobility. As Portes highlights, social capital, like all forms of capital, can be used for both inclusive growth and exclusionary practices.

The Road Ahead

The discourse around social capital underscores a universal truth: human beings thrive in connection. The bonds we forge, the communities we nurture, and the trust we instill in one another have far-reaching implications, from the health of our democracies to the well-being of our children.

In an era marked by rapid technological advancements and changing social dynamics, it becomes imperative to foster avenues for genuine interpersonal interactions and community building. Only by recognizing and addressing the challenges and harnessing the positive potential of social capital can societies hope to create a cohesive, inclusive, and prosperous future.

Only now do we have the tools that could codify these and make them formal in a ditigal world caressed with mechanisms that increase the benefits while minimizing the negatives, but more on that in our next post.....

1. Scalability: With the advent of Layer 2 solutions (L2s), the speed, cost, and reach necessary to onboard users at scale have significantly improved.

2. Permissionless Platforms: Robust frameworks like Lens and Farcaster have been developed, paving the way for a more open and inclusive digital ecosystem.

3. Adoption: The growing user base engaging with blockchain technology has reached a critical mass, allowing for meaningful interactions within decentralized social networks.

Contrary to the recurring narrative of the crypto industry being a fleeting trend, much like the infamous Tulip Mania, there lies a silver lining. Every 'crypto winter' brings forth two crucial elements that drive value - capital capture mechanisms and capital formation, respectively. A glance at past cycles reveals:

• 2017: Initial Coin Offerings (ICOs) served as the capital capture mechanisms, attracting external capital as investment opportunities.

• 2019/2020: The financialization of digital assets through various Decentralized Finance (DeFi) methods emerged, with equity being the primary capture vehicle.

The upcoming value capture could well be an amalgam of previously unlocked ideas intertwined with the ability to harness individual or collective social capital. The notion of tokenizing and monetizing one’s social capital as a form of equity unveils an intriguing intersection of personal branding, investment, and community support. Here’s a structured exploration of how this concept could manifest, intertwined with blockchain technology, tokenomics, and social engagement:

Personal Equity Tokenization: Individuals could tokenize a portion of their social capital into a tradable asset, termed "Personal Equity Tokens" (PETs). These tokens epitomize a stake in the individual's social and potentially financial capital.

Syndicate Formation: Around specific goals or ventures, syndicates could be formed where individuals or investors buy or earn PETs. The funds garnered from the sale of PETs are channeled towards realizing the specified goal or venture.

Value Proposition: The valuation of PETs could be anchored to the individual’s social capital, personal brand value, or the venture’s success. As either the individual's influence or the venture's success escalates, so could the value of PETs.

Shared Success: Successful ventures could yield financial returns or other value forms, distributed to PET holders based on their stake, engendering a win-win scenario.

Continuous Engagement: Individuals could continually engage with their community, augment their social capital, and strive towards the venture's objectives, which in turn could enhance the value of PETs.

Secondary Market: A secondary market for trading PETs could be established, facilitating liquidity and price discovery based on the perceived value and future potential of the individual and the venture.

Community Support: By holding PETs, the community has a vested interest in supporting the individual and contributing to the venture’s success, thereby nurturing a collaborative and supportive ecosystem.

Transparency and Accountability: Blockchain technology could ensure transparency, immutability, and accountability in the allocation, distribution, and utilization of funds raised through PETs, as well as in tracking the performance and outcomes of the venture.

Legal and Regulatory Compliance: Ensuring legal and regulatory compliance is paramount, encompassing clear terms of agreement, rights of PET holders, and adherence to securities and other relevant laws.

Long-term Relationship: This model could foster enduring relationships between individuals and their communities, with aligned incentives for mutual success and continuous value creation.

Diversification: By being part of multiple syndicates, individuals could diversify their risk, and investors could also diversify by investing in PETs of different individuals with various ventures.

Feedback and Evolution: Continuous feedback from the community and performance analysis could aid individuals and ventures in evolving, adapting, and enhancing their value proposition over time.

This framework suggests that monetizing social capital could serve both as a social bet on an individual and a fundraising mechanism for ventures, amalgamating community engagement, investment, and shared success in a decentralized, transparent, and accountable ecosystem.

Next Steps

The burgeoning interest in applications like Friend.tech, Stars Arena, and the latest Jam.so, which utilizes both Lens and Farcaster (soon), indicates that we are merely at the germination phase, with a vast and rich design space yet to be explored. Although we have outlined some fundamental concepts, there's a wealth of innovation on the horizon. Stay tuned for more exciting developments. You, as a user, creator, or owner, stand to gain immensely from these evolving dynamics!

For more information on how these technologies intertwine to unlock a new framework for social capital utilization, keep an eye on w3s0c.com!