When the Moxie Protocol launch was announced a couple of months ago, I called it the most exciting development I've seen in my 3+ years in crypto.
After a month of close observation following the launch on July 29, 2024, this month I decided to start a 30-day experiment on Farcaster: the Moxiesplaining Journal.
It's a daily window into my observations, learnings, and the view of Moxie from where I sit as a writer + editor.
This post is a collection of the second week's journal entries (days 8 through 14) exactly as they appeared on Farcaster. Click on the date to read the relevant threads.
You can also review days 1-7.
On Sep. 9, Moxiesplaining Journal was featured as a community project in the Moxie Monday newsletter.
Day 8: The Moxie Dictionary
The Moxie Dictionary is a new project to track, define, and organize emergent Moxie-specific jargon: neologisms, slang terms, wordplay, etc.
Thanks to @kenjiquest for the idea.
To those who've been asking "Wait, what's Moxiesplaining? What's Moxiebaiting?": I'll have more precise answers for you soon.
The Moxie Dictionary will be part of the Moxiesplaining Journal to start, so the community can comment on proposed definitions before they're settled.
Starter list:
- Moxie Maxi
- Moxiesplaining
- Moxiebaiting
- Moxicurious
- Moxiemoron
What other Moxie lingo should be included?
Feel free to tag me to call my attention to candidates for inclusion in the dictionary.
Note: If the definition of the word isn't clear from context, be prepared for some nit-picky questions. :)
Day 9: Fan Tokens Reward Reciprocity
So much of the world is overrun by financial patterns that incentivize + reward extractive behavior and glorify the individual.
Moxie Fan Tokens, by contrast, are designed to incentivize + reward positive-sum relational patterns.
While tokens may be created out of thin air, sustainable wealth is created out of “deep connective tissue”: long-term relations of trust and reciprocity.
It's short-sighted to pursue financial gain in ways that damage or disregard the role of the social fabric.
Fan Tokens are the foundation of Moxie because they reward building and sustaining healthy relations over time, instead of extracting from them.
I view my Fan Token holdings as a way of aligning myself with this kind of deep-rooted reciprocity.
Day 10: Easing the Way for Writers
A few ways Moxie Everyday Rewards help make life easier for heavily time-constrained and/or cash-strapped writers on Farcaster:
- Rewards aren’t directly tied to any particular subject matter specifics. This helps create more latitude for intrinsically motivated (but still paid) writing.
- Distribution happens in the background; claiming is straightforward. No need to chase your earnings. The reduction in mental load and effort (compared to tipping tokens) helps free up that much more time and cognitive energy for writing.
- Lowers the barriers for niche writers with modest followings to start earning, which can help them bootstrap small businesses. Less time spent pursuing uncertain funding sources (e.g., grants, prize pools, etc.) translates into more time for writing.
How does Moxie make your life easier?
Day 11: Value Flows to the Whole Network
It’s notable that 10% of all Moxie Everyday Rewards always flows to the FC Network token, and this percentage is not adjustable.
I view this as a way of recognizing that true positive-sum value creation happens in context over time. Never in isolation.
Besides the visible work done by high-profile casters + creators, lower-profile background roles like curators, channel mods, + lurkers/readers also contribute valuable time, attention, and continued effort that helps the network succeed.
Instead of revenue-maximizing by capturing hidden surplus value created by these roles and leaving them with nothing but scraps, Moxie returns value to them.
To see this it's important to consider the big picture: how all elements of the Moxie Protocol and token interact.
They work in tandem over long time horizons.
Day 12: Community Call Notes
A few notable items from today’s Moxie community call:
1) Effective today, there's a change to Everyday Rewards:
- Moxie given by recasts + quote casts is reduced from 10x to 6x the Far Score for each one, with a max of 150 that can earn per day
- Moxie given by replies is reduced from 5x to 3x the Far Score for each reply, with a max of 300 that can earn per day
- No changes to likes
The idea is to encourage more thought about what merits a response. (I approve of this change!)
2) Starting in about 2 weeks, we'll have Far Power:
- Lock any Fan Tokens for a min. of 3 months to get higher Far Boosts
- Unlocked Far Boosts will be capped
- Judges for retro grants will receive a boost in voting power according to the TVL in their Fan Tokens
3) Next week’s call will focus on community stories.
Day 13: Meta-Reflections
I do most of my best work slowly, behind the scenes, and out of the spotlight, so I’m unlikely to become a high-volume, high-visibility sort of caster.
Yet I’ve set up the Moxiesplaining Journal as a daily experiment because:
- I'm inspired by the long-term Moxie vision, and
- I want to contribute something Moxie-related every day that might benefit the FC network.
So rather than wrangling with ponderous deep-dive essays that take weeks or months to write (which is where my writer-mind tends to go instinctively if I'm left to my own devices), I’m building daily habits + learning-in-public muscles this month.
In any case, I imagine most of those who hold my Fan Tokens trust that I’ll keep contributing value to the network that compounds over time, regardless of my current rank on the daily earnings leaderboards.
Day 14: Fan Token Plans
Today I'm answering a question about plans for my Fan Token.
Long-term, I hope to use Moxie + Fan Tokens as a springboard to build a sustainable livelihood around my best work: intrinsically motivated writing. The writing I actually want to do.
I’ve got 30+ years’ worth of non-fiction writings in my files, published and unpublished. I plan to edit and re-release the highlights onchain.
I'm working on token-gated vaults: special collections of never-before-seen writings (journal entries, rants, etc.) restricted to my Fan Token holders only.
Currently I'm working on this as a side project alongside work-for-hire. Once I'm able to turn my full attention to intrinsically motivated writing, my Fan Token holders will be the first to benefit.
In the meantime, I'm open to ideas!
Moxiesplaining Journal Day 11: Value Flows to the Whole Network It’s notable that 10% of all Moxie Everyday Rewards always flows to the FC Network token, and this percentage is not adjustable. I view this as a way of recognizing that true positive-sum value creation happens in context over time. Never in isolation. Besides the visible work done by high-profile casters + creators, lower-profile background roles like curators, channel mods, + lurkers/readers also contribute valuable time, attention, and continued effort that helps the network succeed. Instead of revenue-maximizing by capturing hidden surplus value created by these roles and leaving them with nothing but scraps, Moxie returns value to them. To see this it's important to consider the big picture: how all elements of the Moxie Protocol and token *interact*. They work in tandem over long time horizons. (Moxiesplaining Journal is a daily window into my observations, learnings, and the view of Moxie from where I sit as a writer + editor).
ICYMI, yesterday's Moxiesplaining Journal entry spawned some good discussion in the thread: https://warpcast.com/danicaswanson/0x66fd485e
if you turn every 10 entries or so into a paragraph I'd collect it. So many nuggets here, hard to keep them organized for my Gen X brain🤣
Thanks for reading! GenX brain here too, so I've already gathered the first two weeks' entries into Paragraph collections of 7 days each. 😄 If there's enough interest, at the end of the month I could pull all 30 entries into one post for the collectors. https://paragraph.xyz/@danicaswanson/the-moxiesplaining-journal-1?referrer=danicaswanson.eth https://paragraph.xyz/@danicaswanson/the-moxiesplaining-journal-2?referrer=danicaswanson.eth
Thank you for doing this, it’s helpful to understand who all this works together.
Gad to hear it's helpful. The writing process helps me better retain what I'm learning, and I'm hoping that this kind of learning in public can serve as a complement to the more technical explainers and how-tos.
It is really helpful. You know what they say, the best way to learn something is to teach it to someone else. (My iPad is possessed and makes up its own words, I swear 🤣)
I'm tipping: 2 $HUNT via Abundance Ecosystem on /impact /impact lets you earn curator rewards while supporting your favorite creators & builders on Farcaster
I'm tipping: 3 $HUNT via Abundance Ecosystem on /impact /impact lets you earn curator rewards while supporting your favorite creators & builders on Farcaster
Moxiesplaining Journal Day 15: Fan Token Auction Reflections My Fan Token auction happened in the first week after Moxie launched. Several early bidders + friends got priced out by flippers. This was just before Airstack made an adjustment that altered the immediate post-auction arb opportunity. Looking at the cost basis vs. current value for the tokens from my own auction that were auto-allocated to me, I see how the daily buy-and-burn gradually narrowed the difference between those figures. (See image - top is from Aug. 6, bottom is Sep. 15). So as of this week I'm no longer in the red on my own token. By earning Everyday Rewards, I "worked my way back up." I'd like my priced-out friends to become holders of my Fan Token too, but the price is much higher now. I could buy my own token and gift it to them. But would that be a positive-sum outcome? 🤔 ----- (Moxiesplaining Journal is a daily window into my observations, learnings, and the view of Moxie from where I sit as a writer + editor).
(Oy. Sorry 'bout that second image. Uploaded the wrong one somehow. Will try to fix it...)
Let's try this again. (I'm much better with words than I am with images...) Aug. 6 vs. Sep. 15 screenshots:
You can catch up on week 2 (and earlier) here: https://paragraph.xyz/@danicaswanson/the-moxiesplaining-journal-2
Can you explain the red portion’s significance? Are you saying that it’s based on how much you initially put into your token?
I didn't buy any of my own Fan Tokens. My holdings of my own token are only those that got auto-allocated to me by the auction mechanism at the close of the auction. As far as I understand it, the big red portion means flippers took advantage of an exploit that was only possible during the first week (before Airstack made changes that reduced the arb opportunity). The flippers bought a lot of tokens and then dumped them right out of the gate. So that's how some of my friends got priced out. (If there are others reading this who can explain what happened more clearly, by all means, please chime in! I'm still trying to wrap my head around it. I'm learning-in-public here).
Ahh I see, thanks! That makes sense to me. When my token launched, a flipper had purchased ~400/1000 and did the same thing, so the price dropped a bit, but then stabilized with my daily earnings
I'm supporting you through /microsub! 171 $DEGEN (Please mute the keyword "ms!t" if you prefer not to see these casts.)
Interesting points. I noticed price going up with trades on my own token, even if it was sold for small profit. Besides buying your own token (priced at premium right now), and gifting it to your friends, I don’t know what else would be worth doing. You can send them Moxie as well if you’re feeling very generous. I heard about burning option, but haven’t tried it yet.
The point I was getting at (admittedly in a roundabout way) is that in this situation I don't see how a positive-sum outcome is possible for everyone. I mean, if my actual friends all get priced out by flippers who don't even know me or care about my creative output, and I decide to remedy that situation by buying tokens for all the priced-out friends at the pumped-up price at my own expense... well, that doesn't sound positive-sum to me.
I'm back and it's that time of the week again! Currently starting to write Moxie Monday #6! If you've built anything using Moxie this week, please comment it below so we can spotlight and share it with more people! cc: @alexcomeau @betashop.eth
Burr Frens poker club is up to 261 members. This week we will see at least 31 players in the Tournament of Champions. I also released an NFL survivor pool for anyone holding 3 or more burr tokens. This begins tomorrow and currently has 49 participants. Whoever survives the longest will take home 69,000 moxie Upcoming: - Poker HAT day - sponsored by @jachian - 50k in degen prizes The Burr Frens poker club is COOKING 🔥
Gotcha! Thanks for what you do 🫡
This happened later in the day but Burr Frens also partnered with @nounishprof and /gmfarcaster for some incredible poker fun. So far, we've awarded 25k degen with much more on deck tomorrow 🔥
Here's a collection of all the past week's entries for my community project: the Moxiesplaining Journal. https://paragraph.xyz/@danicaswanson/the-moxiesplaining-journal-2?referrer=danicaswanson.eth
I added a reward frame to the DegenFans frame generator. This means you can configure a no code frame where your fan token holder can yoink a stream and get rewarded in Moxie (it’s completely configurable, max parallel streams, different amount of streams for holder with more fan tokens, also different gates are possible ) this uses superfluid streamable token (a wrapped moxie) https://frames.degenfans.xyz/farcaster/framegame/action/?method=token-gated-reveal&tgf=login&onlylogin=true
Wow! Gotcha, you're one of the frame goats 👏
An example https://frame-296.df-frame.xyz/ff/?method=token-reward&tgf=e86fe300-7701-4be9-91a3-2f1ca63b184b&ts=1726301401
Bullish
I built this. https://warpcast.com/painn.eth/0x57541eb6
Gotcha!
Ty🌹
In line with the MOXIE update announcement, I updated and released the Frame about 4 hours later 😆 Now you can see the limits for the number of Casts and reactions! Frame Created by @saxophone55.eth
Thanks for your work! Will include this one!
Thanks so much! I'm looking forward to it!😆
yeaaaa 🥰😉
a new way to promote MOXIE, raid on X apps by @yjx278.eth
Nice!
https://warpcast.com/yjx278.eth/0x7f19069d I think this the first post
I didn’t, just i make more friendships with moxie👀 What you built 🍖x300
Moxiesplaining Journal Day 14: Fan Token Plans Today I'm answering a question about plans for my Fan Token. Long-term, I hope to use Moxie + Fan Tokens as a springboard to build a sustainable livelihood around my best work: intrinsically motivated writing. The writing I actually *want* to do. I’ve got 30+ years’ worth of non-fiction writings in my files, published and unpublished. I plan to edit and re-release the highlights onchain. I'm working on token-gated vaults: special collections of never-before-seen writings (journal entries, rants, etc.) restricted to my Fan Token holders only. Currently I'm working on this as a side project alongside work-for-hire. Once I'm able to turn my full attention to intrinsically motivated writing, my Fan Token holders will be the first to benefit. In the meantime, I'm open to ideas! (Moxiesplaining Journal is a daily window into my observations, learnings, and the view of Moxie from where I sit as a writer + editor). https://warpcast.com/trebor69/0xb555781e
If you missed any of week 2 (days 8-14), you can catch up here: https://paragraph.xyz/@danicaswanson/the-moxiesplaining-journal-2?referrer=danicaswanson.eth
Just got notified by @alertsbot that there are a couple of new holders of my Fan Token today. Might be a good idea to cast about my plans for Fan Token holders a little more often!