Vault Research

@vault-research

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Let's look back at our online friendships. https://trustmebro.help

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is it so-called shadow banning

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getting no likes or any reactions on /fc-devs and /miniapps and not sure if it's about the quality of what i'm saying. 🤷 🤷 🤷 🤷

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@vault-research

This. https://x.com/asafnadler/status/1930540966764560674?s=46&t=i_os5OducppToEX6qMPioQ

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Sunday morning vibe

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@vault-research

You guys remember Steem? It was a content platform with its own chain. When you get liked by readers (not tipping, just free likes), you get token rewards. It was easy to earn $50-100 per post around 2020 Yeah, it’s a broken token economy so it collapsed now.

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Have you ever used Steem?

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seems the team wants to attract people from outside of crypto, agree with the direction for the sake of farcaster but somewhat disappointing

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Elvi Thio pfp

One of the smartest moves I’ve made as a content creator? Having a “business manager.” Josh handles negotiations, pushes for higher rates, and takes no BS. Josh is also me. But brands don’t need to know that 😌

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your father renamed APIs to oracles

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Added onboarding tutorial.

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People have entered Trust Me Bro and connected the account, but didn't make judgment. What's the blocker? 🤔

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Any feedbacks would be appreciated! Let me mention big guys: @dwr.eth @v @linda @ted @jessepollak @srijan.eth @vitalik.eth @woj.eth @horsefacts.eth

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@vault-research

Meet 💰Trust Me Bro💰 You can judge your Farcaster friends by how much you would lend them, and you can see how much your friends would lend you - no doxxing, only aggregated data will appear on the app. Maximum is $1,000 to make it more plausible. Curious to see how much your friends would trust you? Give it a try — it's actually fun! Together, we can explore this new frontier of online credit. I'll openly share the high-level insights later. https://trustmebro.help/

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Sounds like it won't work? It may not. There're many mixed cases in microfinancing (e.g., Grameen Bank). There was also a company called Lenddo that used social media activity for credit scoring. It which did well for years, achieving a 98% repayment rate (see Forbes) - but now defunct (btw the founders were once interested in blockchain after Lenddo closed). In order to verify the hypothesis - how much people are willing to lend to online friends, tests and data are needed. One thing I've learned from working as a product manager (my daily job for years) is, that you can't know how it will work until you actually do it. You need to meet users and see how they use it. So I made a simple teaser app.

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[Q: Solvency? A: Let's start with p2p] I agree that there's a high risk of default when there's no collateral or way to collect by force. And it's also very early to build a safe credit scoring model based solely on on-chain or online data. But if we don't try because of the worry, there's no progress. So, let's start with peer-to-peer lending. People can freely choose whom to lend their money to. Borrowers who want a loan register their requests, which appear on a list. Lenders can see the borrowers' name and online activities. Reputation. Lenders will lend money if they feel comfortable.

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Now we have web3-native platforms that we build trust on, and have integrated crypto wallets: @farcaster and Lens. I recently found the miniapp feature on Farcaster, and saw people are giving money away when they like, repost, or comment, calling it tipping on @noiceapp. If you can give money to strangers, why not "lend" it in the hope of getting back? You might earn interest on top of the principal!

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Getting back to the web3 context, we meet a lot of "anons" at offline events. Not only just bumping into, but by making an appointment. Some companies hire anons while they remain anonymous. We already trust online figures. Would people lend based on the trust built online? Some definitely would. Trust based on micro-lending within the community has a long history globally. “Gye (계)” in Korea. “Chama” in Kyena. “Tanda” in LATAM. See ROSCA (Rotating savings and credit association) for examples. These systems work based on trust and social forces within the community. https://en.wikipedia.org/wiki/Rotating_savings_and_credit_association

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[Trust built on online] How do we build trust with each other? By spending time together. If one does what they said, trust score +1. If one acts against common sense, trust score -1. Then how much time do you spend online? You don't have to check your screen time. You know that you spend a lot of time watching and talking to strangers on social media. They're no longer strangers once you've spent enough time to build intimacy. Many such cases. If you were into MMORPGs like World of Warcraft, you'd understand. People build very strong relationships through many occasions, from talking about small things in real life ("I hate my roommate!"), to raiding a boss with time attack, becoming a "comrade in arms." One of my close friends recently got married, and many guests from her gaming guild attended the wedding. Hard to believe? Watch The Remarkable Life of Ibelin on Netflix. https://www.netflix.com/title/81759420 Online life is already a real life.

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Fortunately, we see evidence that many people in developing countries are already in web3, including those in Nigeria, Kenya, the Philippines, Argentina, and more. Africa is also one of the most promising geographical areas in terms of demographic structure. Shouldn't we address these needs?

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