steady on Farcaster

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https://warpcast.com/~/channel/brypto

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Use → buy → earn I feel strongly that there should be more experimentation done around allowlists for tokens using onchain history and other relevant data, particularly engagement metrics for a given project Farcaster is doing a nice job of this for airdrop qualification and I think it’ll become the norm for serious projects with tokens as well rather than letting any randos buy your coin Similar to dealing with permissionless spam, we can never prevent bad actors from creating infinite side wallets but we can invert the model and be more selective about holders, especially in the early days Users should have to *earn the right* to invest in a project based on their activity rather than speculating on the attention around it with no intention of ever actually becoming a user themselves This is also beneficial to projects since the holders will now be power users with skin in the game which can lead to increased engagement and genuine bullposting about a project that they already liked It's time that we align incentives between holders and projects rather than allowing rogue speculators to manipulate charts while devs profit off of this disingenuous LP fee model we have now

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I'm trying to understand... We should do experiments with locking out opportunities to the masses by allow listing early investors based on criteria defined from where? Isn't this how centralized investing already works? Everyday people don't have a shot to become early investors due to not meeting a criteria? I'm not against what you are saying in theory, but this 'criteria' is the kicker... the 'zinger' if you will... shall I prove my worth to you by playing a game for 90 hours a week and giving up my family so I can be labeled a "dedicated" user? How about $10 likes, does that get you on the list? I'd love to be able to beat a bunch of bots and superhumans into a project before they suck millions of dollars in liquidity out of it... for now, though, I guess I'll just pick up the broken pieces of shit left behind by those bots and superhumans that beat everyone else to the punch last spring and try to figure out a way to salvage something out of that cesspool, because entire communities are out there drowning in this market of opportunity we created. I love and hate this concept. It is founded in principle by this idea that new people can win in this industry and we can grow through those new investors winning, but it employs the same tactic that tends to lock those new investors completely out of traditional investment opportunities. It all comes down to the 'criteria' in the end, and I hope it's humane - there are already users here speaking of the mental distress a leaderboard is causing them... And the real craziness has yet to even come here. Every hoop you make a human jump through, if they truly do not wish to do it, can degrade them. We are worried about stopping humans from spamming, but turning them into Circus Animals... that seems to be par for the course and acceptable. @marmo.eth may have some thoughts on these 'hoops' that could act as criteria. Much thought will be needed on this topic of inclusion, if we are placing investment opportunity behind locks and keys.

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i feel what you’re saying here, if these types of allowlists just repeat institutional investment lockouts that wouldnt be good. but i think we can define “earn” as “permissionless on-chain action that gets you access to a coin” and that makes it incentive aligned w/o gating

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I'm already seeing people make comments on the psycological distress a leaderboard causes. A leaderboard that is now being supplemented by tip culture. Those with the most money will be able to control their flock. This is going to get interesting - watching this social experiment unfold, where at the heart of it, the question that is begging to be answered is - at what point do you put down the things you love - your family, your hobbies, and even your morals - and run to the money? There are a million cash grabs here, through attention, through interaction, through testing, through gaming, etc. And hence - The Circus Animal. Because while some need only to say Good Morning to their flock and be showered with gifts, Others will need to jump through the hoops of Use - Buy - Earn. Some of these hoops from the perspective of time consumption alone are inhumane. We are inviting bot participants by the very nature of how many hoops there are and how time consuming each of these hoops can be. So why participate ad nauseum in this hoop jumping competition to prove your worth to an inner circle that will more than likely bypass you when the choice comes between their real life friends and their internet following? When there are no barriers to entry I have to fight against the bots and the bad actors The good thing is, They eventually leave and allow Normal people a chance to pick a project off the ground And have a shot When we start with barriers I have to prove my worth to inner circle strangers The ones who set the barriers The inner circle will then move the hoops More Using More Buying To Unlock More Earning You will fall out of favor To the ones who sacrifice more than you And the Capitalist wheel spins Causing more to hate Causing more to want to kill themselves Because they failed to please their Master with Money What we have done here Is taken the corporate shield Off of Capitalism And all the horrors That come with it Now fall directly on our shoulders There is a burden to this model I feel its crushing weight already As I am both content creator And provider to other content creators It's a very interesting topic of conversation. I think we will need many psychologist participants here. They will have much to say about this wheel.

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