Unironically bullish on Farcaster as a major winner in the Ethereum ecosystem.

I've been complaining about the awful UX of Ethereum wallets for years. 

Farcaster seems to be on a reasonable path to fix UX in Ethereum wallets. Why would anyone use another hot wallet than Farcaster in 3-5 years?

Just consider: Most other Ethereum wallets don't let users do anything. The user might be "retained" because their funds are committed to that wallet. E.g. World may have XX million active users, because they're basically paid. Do these users actually have "smth to do" in World when they stop being paid? No

At the same time you have wallets like Rainbow which have somehow been forced to recoup investors' funds through aggressive extraction (80 basis points fee on swaps). Rainbow has like 500 DAUs on their Base router contract and 30 DAUs on the Arbitrum one.

At the same time...

But consider, FC users have mostly considered their identity, which is the retaining factor for coming back. User can now also commit funds into the Farcaster app as well, which makes many check back in even more often.

I actually just think that Farcaster is so much more likely to do well

And the fundamental thesis for why investors paid a lot of money in Merkle's latest raise - at least from what I could figure out, is that they were betting on Farcaster mini apps as a way to grow the value of the Farcaster protocol.

Maybe it is still puny to you that Farcaster can only retain maybe 10k DAU.

At the same time, somehow now that Rainbow is pushed into having to recoup the investors' funds through their router they stop to be user and dev aligned. Devs and users want stuff to do in crypto. 

Farcaster does offer doing stuff!