Reminder: The State of the Union is on hiatus until 2026! I have terrible internet in the mountains and then I’ll be in Japan and the time change is brutal. Hear you all next year!

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Great article I looked back in my casts. About 9 months ago, the focus on alternative income-generating opportunities began. Protocol revenues went down to attract more new casters, and there was experimentation with alternative sources of income (e.g. promoted casts). They started testing many revenue strategies that we also see on X (subscriptions, promoted casts, paying creators). It was clear that the investors wanted results, and that's why I started talking about the investors yesterday. BTW, I don't think the investors wanted 'web2' results, but revenue. Initially by people who pay for the protocol, but when the masses failed to materialize, they opted for more revenue per user. This eventually drove them to want to turn FC into a trading app. Which makes you one of many and certainly not a first mover in the market. IMO, it's positive that FC move to a next phase.

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Imo, good news for Farcaster The fact that the founders realize in time that it is time for a change in leadership is a good sign. And a quality in people that I really appreciate. However, I am curious if the original investors are still investors or if they have been bought off? aka is @neynar besides owner the only investor or do past investors still need to be kept happy? I'm asking that because Farcaster is an excellent product, but needs more time to reach full maturity. Investors are the ones who can give FC time.

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Farcaster is dead. Long live Farcaster!

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Maybe Farcaster’s decline is greatly exaggerated. Or maybe everyone is realizing how hard social and content really are. Almost half of the new accounts don’t even have pfps. They aren’t real. We all know it. The spam is overwhelming and it’s mostly coming from addresses that end in base.eth If I had a shit ton of money in the bank, I’d keep experimenting until something sticks. I don’t think it’s wrong to come to the conclusion that you can’t fight 20+ year old incumbents who have defined what social is today and platforms with massive content moderation teams and PHDs writing their algorithms. It’s delusional to think anyone can compete with that without some edge. But numbers go up. @cryptonjal analysis of new accounts and post metrics proves it. So if you just judge it by the numbers everything is great. But we all know it’s not great. When the core users start to check out, you are left with a lot of slop, the same mini app auto posts, and a slow and stale timeline. So we pivot to wallet and trading. But most people don’t want to constantly loose money and the novelty wears off quickly. What’s left? A whole lot of quiet. https://farcaster.xyz/cryptonjal/0x2838cc39

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There have never been so many FIDs active as in Dec. '25 (287k!) and yet the narrative that things are going badly with FC keeps coming up. However, I measure qualitative growth. It's slowly growing, but it is there: - Active spam label 2 is growing slowly - Active spam label 0 is declining - Engagement from spam label 0 and spam label 2 is declining, but avg. casts/active FID isn't for both spam label 0 and 2. - The large amount without a spam label in Dec. '25 is probably due to TBA. This amount has already become smaller than 2 weeks ago. See the figures for yourself: https://dune.com/nhejyht/farcaster-monthly-dashboard Measure FC growth by spam label 2, not by all active FIDs. Spam label 0 isn't bringing value to the network. I don't want to say that FC has proven its right to exist with the investors. That will have to be seen in the coming years, but the foundation is there.

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Did you know the Georgian word for snowman is "Tovlis Papa"? This and more ways to say snowman in the languages of Farcaster now coined on zora. Thanks to all the Farcaster that shared the word for snowman in their language. You have some of the coin in your wallets :). https://zora.co/coin/base:0x78fffb8cf5eaabfe1de2ddc58d746e25bb2a8fd9?referrer=0x9e38ee8cc233eea4d7b278f259aa9f801f222bbe

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Unfortunately the message requests here on Farcaster have basically turned into the same scammy spammy slop as Twitter/X!!🤦‍♂️😤 Looks like the good old days here are looong gone…😅 I’m not against growth, I know the platform “needs it” but for a couple years this was such a cosy corner of the internet!!!😎✌️ I have always been super down to talk with anyone, & have talked with many hundreds that were new to blockchain, working on a project, curious about music or literature in web3, etc. etc.. (All that’s required is being straight forward with the ask, & genuine!)😉 I have 72 requests & I would bet at least 71 are not genuine people truly just wanting to connect…🤷‍♂️

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No labels are the most interesting thing here. Is TBA failing in onboarding a load of new active Farcasters? I can imagine this is disappointing, but given the choice of SM, you don't just win someone over to FC. It won't be a quick win, but a slow process (imo). That's why profit per user must be higher, and that's why MM's focus has shifted more towards trading. Without income, it can't exist.

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BlueSky and the problem of narrow range of ideological viewpoints https://www.ms.now/opinion/bluesky-elon-musk-twitter-replacement I feel FarCaster is much better here.

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Added spam label 3 to my monthly Dune dashboard with Farcaster data. https://dune.com/nhejyht/farcaster-monthly-dashboard A no-brainer, but visible in the data: a lot of reply spam lately. - 1.5% of all engagement in December came from nerfed accounts (they could be nerfed because of that engagement)* - That's 7.2% of all replies* - in total, there were 171 nerfed accounts active in December * replies from no-label accounts are not included

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Happy happy New Year’s to all!🍾🥳 I’ll definitely share some pics form the beach later!!😎✌️ I tried to include some of the Project characters I’ve made over this year, but struggling with the AI to get it right, at least @betrmint @tipn @inflynce made it in!!! 🤠🤙

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A quick overview of the Farcaster figures. 🟦 atm TBA onboarded 489,993 new fids (in total). 🟣And, by MAU Farcaster has this month a new ATH: 276,531 active fids this month. 🟣However, 39.4% has no spam label (also an ATH). 🟣Spam value 2 (not spam) is still in an uptrend but no ATH. I'm curious how many new TBA casters stick around. Imo that's the most important test for the near future. In addition, not unexpectedly, no trend break since the end of the rewards for casters. MM rightly stopped doing that. And congrats to the FC, MM team with the new ATH 🎈

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How things have changed. When I first wake up and check my Home feed, I genuinely am happy with the first 20 or so posts. It’s not as great the rest of the day but it’s doing a fine job of highlighting posts from the previous 8 hours when I was asleep. I hope this means that folks who aren’t terminally online come back to a nice feed and decide to hang out here more.

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lol, over 1 Million FIDS are unlabeled…. Which technically means they aren’t active enough to get a label but would most likely be marked as spam if they were… Spammer mini app by @mvr

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