HAM is Back on the Menu

Ham Season 1 concluded with a high six figure airdrop of $TN100x on June 5 - coinciding with the launch of Ham chain, a Layer 3 blockchain built on Base and the OP Stack. Ham is back on the menu with the start of Season 2 and it tastes better than ever. We learned a lot from Season 1 and have made some major innovations and improvements. Let's dive in to what has changed!

Ham tips are now are directly on Ham chain, Ham's new innovative L3 blockchain. What do I mean when I say "Onchain Ham"? Prior to Season 2, people were given an allocation of Ham tips that they could give out by commenting the Ham emoji (🍖) on Farcaster posts they liked. This hasn't changed. What has changed is where these tips are stored and what they are backed by. The previous Ham system would track the amount of Ham each person received. You can think of this as a point system and the points were stored in a centralized database owned by Ham. At the end of the season the points were tallied up and they determined, in part, how much $TN100x you received during the airdrop. Ham tips were not 1 to 1 with $TN100x. Now that point system has been moved to Ham chain and the points are actual tokens, a token called HAM.

HAM is backed 1 to 1 by $TN100x. 1 HAM = 1 $TN100x

Every day people receive an airdrop of HAM token to their Farcaster connected wallet based on their Ham score (we'll get to what this is). When you tip HAM on posts you like the HAM token is sent immediately to the receiver's Farcaster connected wallet. They can convert this HAM to $TN100x on Ham chain, or then can use that HAM and tip other people right away!

This method of tipping opens the door to endless possibilities. Now that HAM tips are onchain they are composable and app developers can easily integrate HAM into their applications. For example you could build an entire NFT marketplace that accepted HAM token as payment. This is made easy by the fact that HAM uses the standard ERC20 token specification.

Any portion of your daily allocation of HAM that remain untipped will be burnt along with the backing $TN100x.

Your Ham Score determines your daily HAM token allocation. Ham Scores are between 1 and 69 (the higher the better) and are assigned to Farcaster accounts, but in order to be eligible for a Ham Score and HAM token allocation you must hold one of the following in a wallet that you have connected to your Farcaster account (you can do this in the Settings section in the Warpcast app):

• 100,000 $TN100x on Ham chain or Base.

• OR 1 Based LP NFT

• OR 1 Ham LP NFT

Previously your daily Ham allocation was determined by rather primitive metrics. It used engagement metrics on your posts in the /lp channel in Warpcast. This was pretty easy to game and didn't accurately determine your contributions to the Ham ecosystem. Now, using a combination of onchain and social data, we are able to calculate a much more accurate score that reflects and individual account's contribution to the Ham ecosystem. We're utilizing Airstack's robust dataset and, in part, their social ranking system to piece together both onchain metrics and social metrics. Onchain metrics include Ham ecosystem token holdings, like $TN100x, $PHAM, The Based LP NFT, and the Ham LP NFT. Social metrics include your contributions to the /lp channel on Warpcast and your contributions to the global Farcaster network. We prioritize contributions to the Ham ecosystem while still factoring in global contributions. Each factor is precisely weighted to determine the final Ham score.

You can check your Ham Score on the Ham Dashboard of by using this Frame.

One of the most novel things about Ham chain is our onchain Farcaster data. Our initial dataset of onchain Farcaster data includes Farcaster ID (FID) to wallet address mappings and vice versa. This means that you can determine the verified wallet address of a Farcaster user directly from Ham chain. Smart contracts can interact directly with this data and the HAM token has built in methods to distribute to and transfer from accounts using only FIDs. This data on Ham chain exists because of innovations by the Syndicate team.

This seemingly simple set of data opens the door to all kinds of new innovative products. For example you can create Farcaster native ERC20 tokens where only people with Farcaster accounts can own and trade the tokens. Or you can create a game with Farcaster login and associate onchain game assets with a players FID.

If you'd like to explore a Farcaster native ERC20 tokens we've begun working on a boilerplate repo with this functionality and have dubbed it FRC20.

We're excited about the future of Ham and are even more excited to see what builders are going to bring to Ham chain. Join us for a cookout on Warpcast.