spotlight

Introducing $PROCOIN, the community-led governance token for Farcaster Pro users.

All 10k NFT holders are eligible for an airdrop.

But there’s a twist.

**The token will be untransferable until 500 Pro users claim.**

In order to get a mandate as a community token, we need broad support.

To claim, quotecast this post with the text “Ratifying @procoin governance”

All 10k NFT holders are eligible, but the first 500 claimers will receive ~5x the allocation.

Farcaster Pro Community Governance | $PRO 0xF65C3c30dd36b508E29a538B79b21e9b9E504E6C

Farcaster Pro is an important step forward in making the protocol sustainable.

Raising a bunch of money from investors and spending it is not sustainable. It’s a tactic not a strategy.

If the protocol can charge a fee that people are willing to pay annually, then it will have budget to spend on what is important to the protocol—independent of any one company.

We’re starting with a pragmatic, optimized for speed approach today where we are centrally collecting, deciding (via an algo) and distributing rewards.

In the next few weeks, subscribing to pro will be onchain and permissionless. 

In the longer term, ideally we can figure out how move rewards to something more akin Bitcoin or Ethereum block rewards where funds are collected and distributed entirely at the protocol. We’re not close to this and not a near term priority, but it’s where we would like to get to. 

(Solve the problems in the correct sequence.)

No regrets about my choice feels right!☑️

where the money at shared with @gif (follow @0xconca.eth to remove this watermark)

💻 building /hyperclient && @atlas && @gif composer action (check bio for details) | 👑 support me and @gif project by subbing to https://hypersub.xyz/s/gif

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rikoo

@r1koo