Spotlight

How does a project build influence in the Farcaster network?

The most common answer is to build a new client.

[read on for @procoin new launch preview]

The thinking is that if you own the direct relationship with the user, you control how they interface with the network and thus derive influence in how the network operates.

This makes sense on some level, but the challenges and obstacles are readily apparent. 

Changing consumption behavior for what is roughly the same content is nearly impossible. Users are lazy creatures of habit. And there aren't that many users anyway.

So, the next idea people have is to change the medium. Less text, more video. Focus on music. Build an experience centered around mini apps. 

This is a better answer but still not quite right. On a text-centric network, you're going to run out of alt content real quick. Most small teams do not have the will or resources to solve this supply-side problem.

For the new @procoin curation protocol, we're trying something new. Instead of changing the interface or the medium, we're changing the shape of the content. 

"The feed" is this generalized black box which serves us well in some ways, but also narrows and flattens the experience.

We want to take Farcaster into its Tumblr era, where there are a thousand custom feeds -- unique experiences hand-curated by anyone with a creative instinct. Accessible and consumable in a miniapp. 

But of course, no one in crypto gives a fuck unless there is a speculative component.

To bootstrap a legion of curators, they need to be capitalized by an army of speculators. 

That's why every feed is tradable on a bonding curve from day 1. And that's why we're building a set of revenue models for curators to leverage to make their feeds lucrative for themselves and their investors. 

We're also introducing some novel issuance mechanics. The goal is to make content creators stakeholders in these new feeds. An attention and distribution flywheel if you will.

Contracts are headed to audit. Miniapp is getting closer. More soon

In the past I've been skeptical about protocols that use their token as a pair asset,

but I've come around to the realization that -- for lack of a better word -- the "flywheel" it creates is more valuable than the downside that comes from reflexivity