Heard of Scoop?
No, not a Scoop of Ice-cream, but some crazy Scoop on Farcaster.
Scoop is a gamification approach towards your friends Farcaster profile. Imagine Farcaster profiles becoming digital trading cards, like literally.
The SCOOP here is all about the relationship between the price and supply of these profiles. All which are limited in numbers.
Each time a BUY or SELL is triggered, a 10% transaction fee is deducted with the transaction
Out of the 10% fee, the further breakdown is as follow:
4 % goes into the community pool
2% of it goes to the creator
4% goes to Scoop for fund operations
This is where the fun of the game begins:
Creators on Farcaster get ranked against their engagement metrics
Top ranking cards receive rewards linearly from the community pool
Better the creator metric = Better your earnings
Likes, Quote Casts, Replies, Recasts and New Followers all come under the umbrella of qualifying engagement metrics.
A spam prevention mechanism is in place, this is in the form of accounts without power badges getting penalized. This will also prevent SCOOP from being sybil-attacked and heavy bot manipulation.
If a user with a new account wishes to be a part of Scoop, they can be bootstrapped from existing users who have a power badge against their profile.
Each Farcaster creator earns a percentage of individual trades that happen on their profile. Claim your profile = Claim your Rewards
The Daily Rewards:
Once every 24 hours, Scoop takes the above metrics we discussed and calculator the engagement score for every creator.
This is a direct play on how a particular profile has fared throughout the day and is ranked accordingly.
The fees accumulated in the community pool for that particular day is then distributed to card holders of creators proportionately against their engagement score.
SCOOP will be divided into 2 phases
Phase 0 released on 12th June with the ability to setup your profile through card customization and deposit of funds in self-custody scoop wallet
Phase 0 lasts for 7 days
Phase 1 commences the actual game
Higher score in Phase 0 = Earlier you enter the arena in Phase 1
Scoop is live at scoopit.lol and follow /scoop for gameplay and invite codes on Warpcast! (new invites are paused at the moment of writing)
