Farcaster

A reminder on channels

- Channels are *not* decentralized yet

- Do not squat channel names with the intention to sell them to brands later; this is extractive behavior

- When channels are decentralized and incorporated into the protocol later this year (likely onchain!), then you can do what you want! Just like FIDs

Squatters are spending money/warps to invest in the potential future of the protocol. 

The protocol may not succeed. 

It’s like buying land that’s not developed. Who knows if the land will become valuable.

When sold, there’s tax. This is so that part of the gains can be used to build the common goods.

Channels could be considered like land zoned for a specific use. If you buy it, use it within regulation if not forfeit it.

I think that's fair enough for generic words and terms etc. Blatant brand squatting isn't good behaviour though

I concur to a certain extent noting that if this happened to a brand I was the founder of, I’ll be quite miffed. 

But like “bankless” is a generic word used by a company rather than a brand that has become part of our regular vernacular.

Interested in all things crypto, ENS and NFT's. 