@dwr on Farcaster: "Farcaster Pro is an important ..."

7mo

Farcaster Pro is an important step forward in making the protocol sustainable. Raising a bunch of money from investors and spending it is not sustainable. It’s a tactic not a strategy. If the protocol can charge a fee that people are willing to pay annually, then it will have budget to spend on what is important to the protocol—independent of any one company. We’re starting with a pragmatic, optimized for speed approach today where we are centrally collecting, deciding (via an algo) and distributing rewards. In the next few weeks, subscribing to pro will be onchain and permissionless. In the longer term, ideally we can figure out how move rewards to something more akin Bitcoin or Ethereum block rewards where funds are collected and distributed entirely at the protocol. We’re not close to this and not a near term priority, but it’s where we would like to get to. (Solve the problems in the correct sequence.)

16Kviews

What's the advantage to going onchain and permissionless? That features can be implemented by 3rd party apps?

1

1

15

Yes. Will explain what makes a good pro feature in a separate post later today.

14

this is an exciting step forward! do you have any ideas on how to incentivize other farcaster clients to support pro features? or is this not necessary?

1

14

What makes a good feature for a protocol-level subscription? 1. Features are enforced across clients — Snapchain, onchain contracts, protocol fname and DC servers, etc. 2. Any app-level feature will create incentive for other clients to offer as a top of funnel "our client gives you this for FREE!". This is consumer

quote image

4

How soon would monthly sub kickoff?

2

9

Probably a month from now.

2

7

How are you balancing this with new organic growth? I assume it is much easier for people to sign up for free than convert them to paying from the first minute.

1

4

1. Make sign ups free 2. Charge power users for pro 3. Pay out revenue to creators and developers

2

1

23

4. ??? 5. Profit

Love the vision. What are the main struggles with block-reward-style distribution?

1

1. Make algo work in a decentralized way -- if open would immediately get gamed 2. Need to design contract / mechanism

1

2

mikkolagerstedt

Any chance on getting bigger storage with pro?

1

The goal is to make storage as cheap as possible.

2

so you're saying there will be a new 10k collection every year. got it

1

21

it will be super exciting watching you all work on solving that problem at network scale

7

> Raising a bunch of money from investors and spending it is not sustainable. It’s a tactic not a strategy. More people need to hear this.

4

👏👏👏 Good vision for funding a protocol- work out the details as we go.

4

Will the NFTs be 10,000 unique NFTs? Or just all the same one?

1

1

All the same. The artist is @miguelgarest.eth

2

5

he’s a dope artist, thanks!

1

1

farcaster is the place to be for builders and creators, such a great choice

1

samuellhuber.eth

1

And you just demonstrated that people are willing to pay that fee