What is $REGEN for?

• Regenerate communities, ecosystems and economies.

• Tip and support decentralized technology.

• Promote public goods, open source software , educational initiatives, community growth.

• Bank the unbanked population.

• Farm airdrops .

• Create memes.

*This article was originally published in English on May 14, 2024 on Regen's profile on Paragraph .

Much of the crypto world revolves around the meme of being a 'degen' , a fun life that can be (ridiculously) rewarding. But sometimes the rollercoaster of going from a 100x to a rugpull can get exhausting. So how can we balance the forces?

Well, there is also another crypto meme that you may have heard of. It's called being a ruler . If you're a degen , you're probably a regen too , you just don't know it yet!

Being a regen means you are supporting decentralized technology to regenerate communities, ecosystems and economies. Things like public goods, open source software , educational initiatives, growing communities, banking the unbanked, or supporting environmentally friendly initiatives.

But let's not deviate from the path. Regens are simply fun men and women who do not generate hype , but rather spread hiphae . They congregate around the powerful mushroom, spreading its message throughout the mycelial network, creating fertile ground for regenerative ideas to grow.

While degens often prefer to behave in a "degenerate" manner and regens prefer to regenerate, it does not mean that the two forces cannot come together. Imagine for a moment that degens and regens could combine their powers: where the degen's ability to take risks, think outside the box, go viral, and appeal to people's inherent self-interest could be combined with the regen 's ability to perceive risks. , create long-term impact, inspire hope and appeal to people's inherent desire for community.

Now imagine that all of that was backed by perpetual, positive memetic energy. The result would be an endless and self-satisfying virtuous cycle that would lead us to utopia.

$REGEN will be a way to join the forces of regen and degen , in a way that is more than just a meme (currency); It's a movement. By growing the meme, we create a vibe and culture that attracts more people. By involving more people, we create more value (in every sense). Through this, we can generate more regen ideas, more regen technology , more regen communities and ultimately achieve greater regenerative impact.

So how will $REGEN work? $REGEN will be a fun and rewarding system to reward regens for being regens . The token will be distributed primarily through ongoing airdrops to reward certified regens (often retroactively) for their regen activity on the blockchain.

Regens are also big fans of regenerative farming , so rejoice, farmers ! You can earn points and bonuses by being an active regen on Farcaster , especially within the regen channel along with other aligned channels . A complete farming guide is coming soon .

After the first airdrop , $REGEN will become a tipping token to reward regen activity on Farcaster and to help grow regen initiatives wherever they emerge. So just like with $DEGEN, you'll be able to tip your favorite regen projects and people with $REGEN directly in their posts! There are also some surprises on the way, but let's just say that the goal is to integrate $REGEN seamlessly with Farcaster, making it the ideal place for regens to coordinate on-chain .

Let's get to the point

You can now calculate and view your provisional points, regen points and bonuses on the regen.tips website !

To ensure that regens receive $REGEN, tested regens will be rewarded first and foremost with retroactive points and bonuses for their efforts. The algorithm makes it easy to get points for degens , but to really reap $REGEN, you'll need to prove that you're a true regen .

• When you calculate your points, you'll see an approach like this:

• Provisional points are based on farming activity and NFT bonuses .

• Regen points apply regen test multipliers .

• Without regen test multipliers , you cannot harvest regen points .

In this example, user @aspiringregen has a lot of provisional points, but because his Gitcoin points and donation multiplier are 0, his regen points are equal to 0.

Please note that regen points are subject to change as more data becomes available about your regen test score .

Some great ways to show that you are a regen are: donations on Gitcoin (now closed) and donations on Giveth (active until May 17, 2024 at 11:59 am). More ways to prove you're a regen will be added over time .

You can also collect NFTs like the Regen OG and the degens Manifesto 🤝 regens for a juicy extra boost.

An initial snapshot of points was taken on Thursday, May 9, 2024 at 4:20 pm, so all commit and regen testing activity up to that point is reflected. Engagement from the snapshot will also count towards points and interim points will start updating daily in the near future.

There are many other ways to demonstrate your ' regen test ', so don't worry, (many) more regen -aligned on-chain data points will be integrated . If you have a project/community that should be included, please get in touch !

As supporters of regenerative practices, $REGEN will grow according to the lunar cycles. This means that all new phases, airdrops , and other important events will coincide with the full moon.

The first cultivation period is already underway and began with the pink moon . Clues were revealed to anyone following the regen channel , including the release of the Regen OG NFT .

This first cultivation period will end on the flower moon . After the flower moon, regen points will be converted to $REGEN on-chain and distributed to eligible wallets via airdrops . After this, $REGEN will be available for use as a tipping token to distribute $REGEN for regen -aligned shares .

Since regens are eternal optimists, the plan is to merge degen and regen energy into the most optimistic chain of all: Cardano! Just kidding, of course it will be released on Optimism for superchain fun and supercharged impact! ✨

A series of farming and airdrop cycles will follow, always in harmony with the cycles of the moon.

During the cycles of the moon special times have been planned for the regens to celebrate. This 'harvest' will also mark the end of Airdrop 1 claims : unclaimed tokens will be distributed to the community through 'RegenDrops' and ecosystem initiatives.

RegenDrop #1 is just the beginning. More airdrops are being planned and will be defined in coordination with the community. The goal is to create a continuous cycle of incentivized participation with rewards in $REGEN for regens for being regens through long-term sustainable ' Regenomics' .

Now is the right time for something like $REGEN to grow; to make being a regen easy, cool, fun, possible, rewarding and something people want to be a part of.

Regen as a project is growing as a grassroots cultural movement on the right curve of memes and impact to celebrate regen culture , support the good work that regens do , and through the power of memes, unlock more regen activity .

The main contributors are a group of regens (and degens ) active on Farcaster and hosts of the regen channel . $REGEN is growing in coordination with a group of regen OGs from across the ReFi and Regen spectrum , and more regen voices are always being accepted , so get involved (see below).

So regens , let's come together to combine degen energy with regen activity and show that together, we are a force of nature.

Here are some ways to get involved:

1. Join Warpcast and the regen channel + aligned channels like publicgoods , degensxregens and green-pill .

2. Collect the Regen OG NFT and the degens Manifesto 🤝 regens .

3. Show that you are a true regen by contributing to aligned causes ( hint-hint ).

4. Join the Regen Telegram .

Farcaster, a decentralized social media platform built on the Ethereum blockchain and Optimism’s layer-2 ecosystem, has raised $150 million in a funding round led by Paradigm, with participation from notable investors such as a16z, Haun, USV, Variant, and Standard Crypto.

Founder Dan Romero announced the successful fundraising in a recent post, stating that the funds will support the project’s development for many years to come. Farcaster has experienced significant growth since going “permissionless” in October, with over 350,000 paid sign-ups and a 50-fold increase in network activity.

Excited to share the news about our recent fundraise! pic.twitter.com/KJxuPJrtqg

— Dan Romero (@dwr) May 21, 2024

The platform has also attracted developers to build on the protocol, resulting in a growing number of apps and “frames” for users to explore. Frames in Farcaster are similar to app widgets that could turn static embedded casts (user-generated content) into interactive experiences. Protocol development for Farcaster is being led by Merkle Manufactory, a Los Angeles-based software company.

“We’re doubling down on Farcaster in terms of our vision over the next few years to really grow this to be an internet-scale protocol,” Romero said in an interview.

Farcaster’s decentralized architecture sets it apart from traditional social media platforms, as it prioritizes user ownership of accounts and relationships, allowing for seamless movement between different apps built on the network. By ensuring that users’ data and interactions are not controlled by a single entity, Farcaster promotes privacy and autonomy, addressing growing concerns about centralized social media giants.

In addition to its core social networking features, such as creating profiles, posting “casts,” and following other users, Farcaster’s ecosystem also offers developers the opportunity to integrate the platform for user authentication. This versatility enhances the network’s potential for innovation and adoption across various industries.

The recently completed funding round has raised Farcaster’s valuation to unicorn status at over $1 billion, based on initial projections published by Bloomberg.

Find a project that you like.​

Have a good look at the projects already created, read the descriptions, and do your homework!

You can browse projects through different categories and sort them by GIVpower rank or other options.

Once you find a project you would like to donate to, hit the DONATE button.

Projects accept ETH and a wide variety of ERC-20 tokens on Ethereum Mainnet, Gnosis Chain, Polygon, Celo, Optimism and Ethereum Classic allowing for donations with different tokens within these networks.

Choose the amount of cryptocurrency you would like to donate. Once you've entered the amount, you can click on DONATE, at which point your wallet will prompt you to validate the transaction. If you would like to use a different wallet than the one you used to sign into your account, click on change wallet in the drop down menu in the top right of the homepage.

In order to switch networks, go to your profile name in the top right corner, click for the drop down menu, and select switch network.

Now you can select your preferred chain to make the donation.

INFO

Bear in mind some projects will only accepts donations on certain networks. You might get a warning if you are connected to a network that the project does not accept donations on.

When the transaction has been signed off and processed, you're done! Nice work! You'll be taken to the confirmation page, and you can track the transaction details by following the link on the page.

Take a look at our Donor Onboarding Guide to get a better idea of how to use the platform for donations.

Once you have chosen a project and set an amount to donate, go ahead and click the DONATE button. This should bring up a pop-up window confirming the amount to donate.

If the amount is right, click on DONATE. A pop-up window from Metamask to confirm the transaction details will be shown.

Verify that the amount on the Metamask pop-up corresponds with the amount you specified on the project page. Take note that the gas fee from the network you are donating in will be added on top of the donation amount. Make sure you have enough tokens in your wallet to cover the gas fees, otherwise the transaction cannot be completed.

If it looks good, hit CONFIRM, and your donation transaction will begin. You should see a pop-up that looks like this:

You can check your transaction in the transaction pop up on your Metamask under the 'Activity' Tab.

Once the transaction has been confirmed on the blockchain, you'll be taken to the next page confirming your successful donation. Nice work!

The degens regens Manifesto

we believe in ✨degens’✨ ability to discover new projects and spread the word

The future value of every new technology is highly uncertain. Due to its financial nature, blockchain technology has made it even easier for people to speculate. This brought to life a new onchain species: ✨degens✨[1]. These degens are adventurers who are comfortable with apeing [2] into highly risky and speculative operations and experiments, mainly for profit for them and their troops. However, their proficiency in creating and spreading memes (i.e., cultural genes [3]) quickly reaches more risk-averse people, which unfortunately gives them a bad name.

we believe in 🌱regens’🌱 ability to align players towards projects that solve systemic problems

In response to this behaviour, some degens memed [4] a new onchain species into existence: 🌱regens🌱 [5]. Regens are philanthropists who leverage the blockchain for the common good using “regenerative cryptoeconomics [6].” They incentivise communities to solve systemic issues (such as “banking the unbanked” with new DeFi protocols) through Public Goods Funding initiatives [7]. However, their sharp focus on improving coordination sometimes traps them in their own bubble. Despite OG regens openly being degens, the narrative of “Degen to Regen Pipeline” [8] has led some people to undervalue the positive traits of degens.

we believe ✨degens and regens🌱 together can multiply the power of coordination mechanisms and public goods

This misconception has kept both groups separate, with very little understanding of the value that each contributes to the ecosystem. This division has prevented ✨degens and regens🌱 from learning from each other to create the ultimate version of “web3”. With their risk-taking, innovation-driven mindset, and skill at harnessing virality, degens are invaluable in exploring and growing new frontiers with regenerative potential. On the other hand, degen behaviour can be unsustainable and lead to rektness [9]. Here, the regen's role becomes crucial, guiding these ventures to build a more sustainable and fairy society.

We believe degens and regens together create a 1+1=3 effect that can accelerate the development of the web3 space.

It’s time to unite degens 🤝 regens.

I, a regen, pledge to engage in some degeneracy to advance public goods

I, a degen, pledge to contribute some shitcoin profits to fund public goods.

The Pudgy Penguins brand has broadened its retail footprint, announcing the availability of its Pudgy Toys and newly released Lil Pudgys in Target stores across the United States.

This venture represents the brand’s second significant foray into the U.S. retail market, following a successful launch in Walmart last year and subsequent expansion. These toys, derived from the Pudgy Penguins NFT collection, are the face of the brand’s strategy to fuse digital and physical to enhance consumer engagement and bring retail customers into web3.

The expansion continues.

Pudgy Toys with Pudgy World are now available in @Target.

More information below. pic.twitter.com/rOWVx4hTfS

— Pudgy Penguins (@pudgypenguins) May 12, 2024

This collection of plushies, figurines, and collectibles integrates digital elements from the Pudgy World online game, which operates on the zkSync blockchain, into tangible products. Each toy includes a QR code that unlocks exclusive digital features and collectibles within the game, enriching the user experience by bridging virtual interactions with physical play.

“Launching in Target is not just about expanding our market presence; it’s about transforming how consumers interact with web3 technologies,” said Luca Netz, CEO of Pudgy Penguins. “We are excited to introduce our innovative digital-physical product line to Target’s shoppers, further extending our community and making blockchain more accessible.”

“Launching in Target is not just about expanding our market presence; it’s about transforming how consumers interact with web3 technologies.”

LUCA NETZ

The presence of Pudgy Toys in Target stores includes an assortment of six different clip-on plushies manufactured by PMI Kids’ World, each embedding a unique blend of digital interactivity and physical appeal. This strategic move by Pudgy Penguins is set to redefine mainstream retail experiences, proving that integrating web3 technology into consumer products can create compelling, multifaceted consumer experiences.

The launch in Target stores follows Pudgy Toys’ notable achievements, including becoming the number one seller in several categories on Amazon and being named Toy Insider’s Top Summer Toy of 2023. According to Netz, the company has sold over one million toys in the past year.

In addition to enhancing consumer products with digital features, Pudgy Penguins supports its NFT holders through its OverpassIP licensing platform, which facilitates royalty payments for NFT holders whose assets are used in toy production. This approach adds real-world utility to the NFTs and ensures that holders benefit from the commercial success of the products.

Editor’s note: This article was written by an nft now staff me

Billionaire investor Mark Cuban has pushed for the United States Commodity Futures Trading Commission (CFTC) to regulate “all crypto,” along with a final plea to the U.S. Congress to offer clarity for the crypto industry before the 2024 presidential election.

Cuban believes such clarity could help secure another presidential term for Joe Biden.

“You could solve this problem for Biden by passing legislation that defines registration that is specific to the crypto industry just as other industries have registration that is defined for them,” Cuban declared to his 8.8 million followers in a May 10 post on X.

He further claimed that if Biden isn’t reelected for another presidential term, the U.S. Securities and Exchange Commission and its Chair, Gary Gensler — known for his tough anti-crypto stance — may be held responsible, as crypto voters “will be heard this election.”

“If Joe Biden loses, there is a good chance you will be able to thank Gary Gensler and the New York SEC,” he added before suggesting the “better option” of assigning “all crypto to be regulated by the CFTC.”

“Crypto is a mainstay with younger and independent voters. Gensler HAS NOT PROTECTED A SINGLE INVESTOR AGAINST FRAUD.”

Cuban echoed the argument that has been heard by other leaders in the crypto community in recent times, namely that Gensler has made it “nearly impossible” for legitimate crypto companies to operate within the U.S. due to his enforcement-focused regulatory approach.

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