Ferran 🐒 (ferran)

just got my 🦖 NFT

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🦕

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Are DeFi savings accounts with $USDC and other USD stablecoins the worst investment ever?

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It’s worth analyzing Farcaster’s statistics from time to time. The network has been in a downtrend since it pivoted into a social wallet and the growth strategy based on financial incentives alone. If you look at the most engaging accounts, many of them are low-quality spam accounts or outright bots (something easy to experience when interacting with the platform too). The platform appears to have entered an enshittification process, much like other social networks. In this case, it’s driven by the naïve belief that human behavior can be effectively engineered through financial incentives alone. It now seems close to a phase of decline, in which the marginal value of joining Farcaster collapses faster than new meaning can be created inside it. And these trends are dangerous as they grow exponentially. Is Farcaster dead? Not in general. But as a social network, it’s nearing a critical point. The clock is ticking. Is this the end? No. A resurgence is still possible. The team retains capital and human talent, and a meaningful pivot could still happen (though community talent and trust in the project are currently low. Must be regained)

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Wild how much my Farcaster timeline quality has already improved just after a single acquisition announcement.

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Omg what a shitshow. You literally click on the address that he published on his cast and **Farcaster** opens a new actionable screen with a scam coin, literally a UX you built around memecoins and social gambling. But instead of apologizing you start shooting everyone that supported you on the network. Just insane 🤡

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Now our voting protocol is available to any Web2 organization within a SaaS Platform. So they can use Web3 voting tech for their AGMs, board elections, referendums, and more :D Bringing blockchain tech to the masses? Yep!

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