Varun Srinivasan
@v
Should Farcaster add a "staking" verification system? Please reply! Users can get "verified" badge by staking $10 USDC in a contract. The stake can be reclaimed at any time, but will only release after a delay (maybe 4-8 weeks). Verified users will get the following benefits: - Badge on profile. - Access to video uploads. - Show up higher in conversations. - A small boost in the rewards program. The goal is to make it harder for spammers to verify so that good humans on Farcaster have a better experience!
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Justin
@jmart
I think $10 is too low. If the system works, then $10 is a cheap price for scammers / spammers to gain credibility. Perhaps there’s a floating “market price” where your stake represents pro-rata ownership of the staking pool, and proven spammers / scammers forfeit their stake. Over time, it will naturally find an equilibrium price that is too prohibitive for bad actors but worth it for good actors.
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