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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rish
@rish
I think there’s enough evidence to show $10 is not enough barrier - spammers spend $2-$3 per account on creating multiple spam accounts - clusters of lower quality accounts bought $120/yr pro subscription Also keeps increasing complexity for new users who aren’t spammers who now need to understand many different kinds of badges and verifications Not convinced ROI is +ve
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Leeward Bound
@leewardbound
the protocol is far too cheap to spam, it's an existential flaw fc gets lumped in with "web3 social" and snapchain is p2p but there's no crypto-economic relationship between the node operators and the clients, it's not a blockchain without that component, and moreover imho it's not a sustainable model at scale there's very little cost or penalty for bad behavior, everything hinges on a centralized spam rating that can and will be gamed, and spam actors will grow exponentially in both number and sophistication while merkle's anti-spam efforts will only ever grow linearly $10 staking isn't enough, and the only correct answer to the pricing question is "what is the EV of spamming the network" - currently it appears to be quite good shy of a $50+ annual fee, i think there's a number of viable approaches here but none without drawbacks - eg worldcoin verification, or protocol level reputation mechanisms i think DNS+SMTP have a lot of history and lessons learned that i suspect we could borrow from
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