Moxie 101

Hey Ambassadors!

Today, we're spotlighting Moxie, an exciting new development designed to supercharge the entire Farcaster ecosystem. In this article, Moxie 101, we aim to explain what Moxie is and provide you with everything you need to know before its highly anticipated launch. Whether you're curious about its mission, how it operates, or the benefits it offers, we've got you covered. Let's dive into the world of Moxie and explore how it’s set to transform Farcaster into a thriving, economically vibrant community.

Moxie is a pioneering, community-governed economic engine designed to enhance the Farcaster ecosystem. Launched as part of OnchainSummer 2024 on Base, Moxie aims to boost the Farcaster GDP and foster prosperity among its members and communities. The Moxie Protocol facilitates efficient on-chain economies by aiming to enable paid memberships, monetization, exclusive member benefits, Farcaster-native advertising models, built-in attribution, rewards, revenue sharing, and much much more.

At the heart of Moxie's ecosystem is its primary cryptocurrency, $MOXIE, which allows community participation and shared ownership of the project. The protocol operates through a series of smart contracts that can be executed via Frames, Actions, and Apps/Clients, offering a versatile foundation for integrating economic incentives into the Farcaster experience. Members can purchase Fan Tokens to become paid Fans, supporting each other, their favorite channels, and the broader Farcaster network through Moxie Batch Auction & Bonding Curve smart contracts. Additionally, the protocol allows anyone to program rewards for Farcaster members, who earn payouts shared among themselves, channels, and their respective Fan Tokens smart contracts.

Why is Moxie Important?

Moxie is crucial as it revolutionizes the Farcaster ecosystem by introducing a robust economic framework that empowers members to monetize their activities and support their favorite channels. By leveraging the Base and innovative smart contracts, Moxie facilitates seamless transactions, rewards, and revenue sharing, fostering a thriving, self-sustaining community. Its ability to integrate economic incentives into the social network enhances user engagement and drives growth and prosperity within the Farcaster community.

Moxie for Normies

So, the question you might be asking is that how will Moxie work? How do I get Moxie? How do I earn Moxie? Well, we got you covered. 

The first thing you need to have to participate in Moxie is to have a Farcaster account and just start engaging with anyone on the Farcaster protocol. With Moxie, they assign a Far Score to every cast you post. The Far Score is calculated by various factors, such as the quality and quantity of engagement you get. While the algorithm to get the Far Score is not open-source, what we do know is that the more quality engagement you get, the higher Far Score you’ll have.

Each cast that earns a Far Score will earn a corresponding amount in Moxie. The Moxie you’ve earned throughout the casts when it is live should be unvested, meaning that you can spend the Moxie however you want as soon as possible.

If you’re already in Farcaster, and you’ve been casting for a while now, you should already be entitled to get Moxie from your casts that earned a Far Score retroactively. The only thing you need to do is secure your Moxie Pass, which you can get here. The Moxie you’ll be getting here will be vested daily over the course of 180 days. This means that you won’t be getting it all at launch, but you will get it across 180 days on a daily basis. If you are also a builder on Farcaster, you will have been entitled to Moxie as well. However, the last day to register here was July 8, 2024. Same with retroactive Moxie rewards for Farcaster users, the Moxie you’ll get as a builder is vested daily over the course of 180 days.

Is this the only way to get Moxie? What if I just wanna buy Moxie, can I do that and where? Well, for some of you, you might want to buy in Moxie from the get go and lucky for you, you can actually purchase Moxie! Moxie can be traded, bought, and sold. While the actual launch price is yet to be determined, it should be tradable in popular decentralized exchanges such as Uniswap. (It will also be listed on Gate.io and Kucoin on launch! Since Moxie is built on Base, make sure that you are on the same blockchain when transacting!

What can I do with Moxie?

Moxie offers various use cases on the Farcaster protocol level. While these are yet to be built, here are some potential use cases that the team shares, which anyone can build on top of Moxie. 

One thing that will be useful from the get-go is the launch of Fan Tokens. Fan Tokens are a unique way to engage and have skin in the game on Farcaster. Initially developed by the Airstack and Moxie team, Fan Tokens allows you to get a share of a person’s Moxie rewards through the Far Score. 

Imagine this: Jason makes a cast about Moxie and it goes viral. The cast garners a lot of quality engagement which in turn increases the Far Score of the cast. This means that Jason will get a lot of Moxie right? So, what the Fan Tokens do is potentially give you a share of what Jason will earn by owning Jason’s Fan Tokens. Fan Tokens have their own contracts individually, which can only be purchased using Moxie. 

To date, there are three known kinds of Fan Tokens, which are:

• User Fan Tokens (Example: Jason’s Fan Token)

• Channel Fan Tokens (Example: Base Channel Fan Tokens)

• Protocol Fan Token (Example: The Fan Token of the whole Farcaster network)

Though these different fan tokens give you a share of the potential Moxie rewards of a user, channel, or the whole network, the amount you receive differs. Here is a rough calculation of the percentages you can potentially get by owning the various Fan Tokens. 

From what is shared, the division will look like this:

• 50% to the original caster

• 20% to the fan token holders of the original caster

• 20% to the fan token holders of the channel where the caster posted (if it was not posted in a channel, this goes to the original caster)

• 10% to the fan token holders of the Farcaster protocol

How do I buy Fan Tokens?

Well now that you know about the relationship between Fan Tokens and Moxie, how do you participate in buying Fan Tokens? Well, there are two ways to participate. The first one is through a batch auction, while the second one is through a bonding curve. Initially, almost all of the Fan Tokens will be sold via batch auction. It is up to the user or channel whether they’ll go this route, or have their Fan Tokens be sold through the bonding curve. If you are interested in participating in the batch auction, you can find the initial list of users and channels that will go through an auction here.

When will Moxie Launch?

Moxie is scheduled to launch on July 29, 2024, at 10 AM EST. Leading up to the launch, there may be several pre-launch activities and events to generate excitement and engagement, so keep an eye out! Moxie will be supported on all platforms, including Android, iOS, Windows, and any other systems that can utilize Warpcast or other Farcaster clients.

Moxie’s Tokenomics

Moxie’s tokenomics feature a fixed supply of 10 billion $MOXIE tokens, which will be hosted on Base, a layer 2 blockchain. The token contract address is 0x8C9037D1Ef5c6D1f6816278C7AAF5491d24CD527. 

Holders of $MOXIE can participate in the governance of the Moxie Protocol, allowing them to propose and vote on governance proposals that aim to modify a subset of network parameters. This decentralized governance model ensures that all token holders have a voice in the protocol's evolution, promoting community engagement and inclusivity.

The total supply of Moxie is distributed across seven categories: 

• 25% is allocated to the Farcaster Ecosystem

• 21.3% to Protocol Developers

• 18.7% to Early Backers

• 15% to Farcaster Engagement

• 10% to the Liquidity Pool. 

• Additionally, there are two airdrop programs: 

  • Airdrop 1 allocates 5% of the total supply to 53,206 Farcaster Members, claimable at the Token Generation Event (TGE) and vesting daily over 180 days.

  • Airdrop 2 allocates another 5% to 1,239 Farcaster Builders, also claimable at TGE and vesting daily over 180 days. 

This strategic distribution aims to foster a robust and active community, incentivize early supporters and developers, and ensure sufficient liquidity for the token.

The Team Behind Moxie

Moxie is a separate entity from Airstack, but it has engaged Airstack's services for its launch. While the Moxie and Airstack teams are largely the same, they envision growing together yet differently. Key members of the core team include Jason Goldberg, CEO of Airstack; Sarvesh Jain, Director of Blockchain at Airstack; Deepesh KN, CTO of Airstack; and Ignas Peciura, Head of Operations at Airstack. Currently, more than 20 people are working on both Airstack and Moxie. Their combined expertise and efforts aim to drive forward the mission of Moxie, which is to grow the Farcaster GDP. The core protocol team from Airstack has been building on Farcaster for nearly two years, leveraging their deep understanding and experience with the platform.

Farcaster offers an excellent foundation for next-generation social networks, but Moxie aims to address a crucial missing component: economic incentives at the protocol level. By introducing these incentives, Moxie seeks to enable efficient onchain economies that can be integrated into every aspect of Farcaster, including casts, frames, actions, dc, clients, apps, promotions, and more. This integration will enhance the functionality and engagement of Farcaster, creating a dynamic and economically incentivized ecosystem that benefits all participants. Through Moxie's innovative approach, the potential for growth and interaction within Farcaster will be significantly amplified, paving the way for a more vibrant and sustainable digital social network.

Community and Support

• How to join the Moxie community

  • https://warpcast.com/moxie-protocol

  • https://warpcast.com/airstack

  • https://warpcast.com/~/channel/airstack

• Available resources and support channels

  • https://airstack.xyz/

  • https://www.moxie.xyz/

  • https://github.com/moxie-protocol/

  • https://developer.moxie.xyz/

Moxie is set to revolutionize the Farcaster ecosystem by introducing a robust economic framework that enhances user engagement and drives community growth. With its innovative approach to integrating economic incentives, Moxie promises to create a vibrant, self-sustaining social network. As the launch date approaches, we encourage everyone to explore Moxie. Stay tuned for more updates and get ready to be a part of the Moxie community!