New FIP: Storage Redenomination 

The goal is to get to effectively "free signups" by reducing fees to 5c over time. At this price, apps will be able to sponsor users who pass sybil checks.  

https://github.com/farcasterxyz/protocol/discussions/229

Technowatermelon. Elder Millenial. Building Farcaster. 

nf.td/varun

This proposal is a first step in that direction. With Snapchain's launch we now have a lot more headroom to scale. We propose that: 

- The size of each storage unit is reduced by 8x (most units are underused today) 

- The cost of each unit is reduced by 10x (roughly $0.20c) 

We'll observe how this works for a few months and then consider reducing it even further if snapchain keeps scaling as we anticipate.

Solve the spamming problem; onboarding should be free

Really appreciate the process that has been carried out, hopefully it will be free later😅