Introducing Farther V2

Farther

Farther

I'm excited to announce Farther V2. This is a big change in how tipping works. Its an attempt to alleviate two problems:

  1. User churn
    Many potentially valuable users who try Farcaster end up leaving when they don't get enough engagement. There is a great discussion about this problem between ted & nonlinear on an episode of their podcast, many such cases (last 10 minutes here).

  2. Tips feeling spammy
    There are many tipping tokens that are all relatively undifferentiated, making many tips seem more akin to spam. See this poll from @dwr.eth

    post image

This all boiled down to a question...

What if tips could increase engagement for underrated users while simultaneously make the tips more meaningful?

The answer I've arrived at is to reward tippers based on how well they're targeting users who have the biggest increase to their engagement over time.

It works as follows:

  1. Every time a tip is given, the recipient's OpenRank global engagement score is stored.

  2. Every six hours, the app checks how much the engagement score has changed since the time of the tip, and multiplies the change by the amount of the tip. This is the tip score.

  3. For tips during the season, tip scores of each tipper are summed. This is the Tipper Score.

  4. At the end of the season, every tipper with a positive Tipper Score receives a pro rata share of a rewards pool based on their score relative to the sum of all positive tipper scores.

This essentially makes tipping into a competitive game and pseudo prediction market for increasing qDAU. My hope is that it will make tips more meaningful and less spammy, as each will be like an investment in the future growth of the recipient.

Additional details:

  • A balance of 100k is still the requirement to receive a tip allowance.

  • Tips to other tippers are not included

  • Every tipper will receive the same daily allowance. The aim of this is to make it meritocratic and direct focus to the tipper score & rewards.

  • No restrictions on tip amounts aside from the daily allowance. No minimum tip size.

  • Tip recipients must have at least 100 followers. This is necessary to mitigate people from farming allowances with dummy accounts.

  • The monthly rewards pool will start at 3 million $farther.

  • Total daily allowance will start by targeting $2000 worth of $farther, determined by the token’s price at the time of the daily allowance reset. The target amount may be adjusted in the future. Allowances for most current tippers will decrease, but the benefit is this will enable more tokens for rewards and increase the system's longevity.

OpenRank data has already been syncing for the past week and the website has been updated to display everyones current tipper score. Scores will reset back to zero on August 1st when the new season begins. I welcome everyone to send me your questions & feedback in the meantime.

Acknowledgements: Huge thank you to @wahoo.eth and @russian_acai for their valuable feedback on the design, as well as everyone who reviewed the app idea that Farther V2 started as.

Farther✨Farcaster
Farther✨
Commented 10 months ago

Tip score has nothing to do with how many times you've tipped. Please read this: https://paragraph.xyz/@farther/farther-v2

Farther✨Farcaster
Farther✨
Commented 10 months ago
Kyle B🍖🧾✨️🎭🎩Farcaster
Kyle B🍖🧾✨️🎭🎩
Commented 10 months ago

I really dont understand the points system. How can I have a lower rank than someone with 2 tips given total?

darcrisFarcaster
darcris
Commented 10 months ago

Same .. confusing

Kyle B🍖🧾✨️🎭🎩Farcaster
Kyle B🍖🧾✨️🎭🎩
Commented 10 months ago

It is. Apparently the lower the following of the people you tip, the more points you get. But that seems super flawed

Farther✨Farcaster
Farther✨
Commented 10 months ago

Strongly recommend reading this: https://paragraph.xyz/@farther/farther-v2

Kyle B🍖🧾✨️🎭🎩Farcaster
Kyle B🍖🧾✨️🎭🎩
Commented 10 months ago

TY

Farther✨Farcaster
Farther✨
Commented 10 months ago

GM and welcome to day 2 of the new season. ✨ Some updates: 1. We're going to reinstate a tip minimum starting 24 hours from now. It will be 200 $farther, which is a little higher than what most voters in the poll preferred but better for growth (imo). 2. In addition to the weekly rewards for posting good content in the channel, I will be more actively hiding low-effort casts. https://warpcast.com/farther/0xa7345f5e https://warpcast.com/farther/0x17aa83e4

joshisdead.ethFarcaster
joshisdead.eth
Commented 10 months ago

Does the tipper score affects the allowance?

Farther✨Farcaster
Farther✨
Commented 10 months ago
joshisdead.ethFarcaster
joshisdead.eth
Commented 10 months ago

Got this! Let's enjoy v2 then :D

GambinoFarcaster
Gambino
Commented 10 months ago

pretty sure we all share the same allowance now

PainFarcaster
Pain
Commented 10 months ago

@farther Why wasn’t I given allowance today?? Is it a or something??

Farther✨Farcaster
Farther✨
Commented 10 months ago

If you provide the address of your balance, I can investigate

PainFarcaster
Pain
Commented 10 months ago

This is my wallet with the farther 0x66c1d437187e0d50f42a482502F4a8D3705992Ed I would love if you could help me out.

Alexey 🎩🐲🐹Farcaster
Alexey 🎩🐲🐹
Commented 10 months ago

that's what we need 🤘 Now we can see more quality content in the form of memes, NFTs and other things than just frames with allowance

eiteengoFarcaster
eiteengo
Commented 10 months ago

When I check the history of a tip I gave two days ago, it still shows that it was only given to three people. I think I actually gave it to more than 15 people. Will this be fixed?

Farther✨Farcaster
Farther✨
Commented 10 months ago

A single tip to 15 people? I don't understand. If you mean you separately tried tipping 15 people, its likely they weren't stored because of the hub/network issues warpcast was having around that time.

eiteengoFarcaster
eiteengo
Commented 10 months ago

Yes, I give tips to 10-15 people individually every day. Two days ago, only 3 people were listed in the history. After the 3rd person, the history didn't update that day, so I continued giving tips, but the history never updated again. Is there anything I can do about this?

AsefFarcaster
Asef
Commented 10 months ago

This is awesome. I'm so bullish on the future!

CharlieFarcaster
Charlie
Commented 10 months ago

So that means the allowance will be higher than 2k-3K ? If not then that will make people tip way less and a lot more with purpose than just distributing

Farther✨Farcaster
Farther✨
Commented 10 months ago

All depends on token's current price. It will target $2k as the base amount and anything that is unused from the previous day gets carried over. And yes hoping that this will change behavior for the better.

CharlieFarcaster
Charlie
Commented 10 months ago

Well the behavior will go towards who people know and loyalty … imo 100 would have been perfect for distribution to non tippers and those who you are loyal with…. I might be wrong on that though

Panji 🟡 ⌐◨-◨Farcaster
Panji 🟡 ⌐◨-◨
Commented 10 months ago

I got drained and all of my farther is gone. Is all of my tip today invalid?

Farther✨Farcaster
Farther✨
Commented 10 months ago

Very sorry to hear! Unfortunately yes if you don't meet the 100k requirement, allowance is invalidated. 1000 $farther 💙

Panji 🟡 ⌐◨-◨Farcaster
Panji 🟡 ⌐◨-◨
Commented 10 months ago

:( I feel bad for people that I've just tipped. I'll try to get another 100k soon Thank you @farther!

FadilFarcaster
Fadil
Commented 10 months ago

Please launch a Ⓜ️oxie fan token thanksss 300 $farther

wetsocksFarcaster
wetsocks
Commented 10 months ago

Not the biggest fan of this change in all honesty. I want to lower my tip amount to tip more people. The more people the better then they might consider buying an allowance.

Farther✨Farcaster
Farther✨
Commented 10 months ago

That cold hard truth is only shrimps & guppies care about small tips. Attracting more of them doesn't create a sustainable community. Whales and the biggest farcaster power users tend to view small tips as spam.

wetsocksFarcaster
wetsocks
Commented 10 months ago

Gotcha, well i appreciate the explanation. Makes sense!

RyanFarcaster
Ryan
Commented 10 months ago

Keep cooking, I dig it 200 $farther

Lauren McDonagh-Pereira Farcaster
Lauren McDonagh-Pereira
Commented 10 months ago

Am I understanding that $FARTHER no longer has a minimum tip amount and the goal is to tip a diverse array of users?

itslemon.eth 🎩Farcaster
itslemon.eth 🎩
Commented 10 months ago

You're correct 100 $farther

Lauren McDonagh-Pereira Farcaster
Lauren McDonagh-Pereira
Commented 10 months ago

Sweet 🍖x20

Sujit 🇮🇳  🎩 Farcaster
Sujit 🇮🇳 🎩
Commented 10 months ago

I don't think it's a great idea

Lauren McDonagh-Pereira Farcaster
Lauren McDonagh-Pereira
Commented 10 months ago

oh? Why not?

Sujit 🇮🇳  🎩 Farcaster
Sujit 🇮🇳 🎩
Commented 10 months ago

Min tip = you can tip more user No min tip = you can all over in a single tip

Farther✨Farcaster
Farther✨
Commented 10 months ago

No minimum for now but we may bring it back soon. The goal is to increase your tipper score, which is explained in this post. Distributing widely no longer makes a difference. It's actually better to be deliberate and targeted with your tips. Think quality > quantity. :) https://paragraph.xyz/@farther/farther-v2

Lauren McDonagh-Pereira Farcaster
Lauren McDonagh-Pereira
Commented 10 months ago

Oh hey! I love that! Thank you for getting back to me and the frame!

JhonFarcaster
Jhon
Commented 10 months ago

This is a step forward, what a great update

Emily 🎩🃏🍖Farcaster
Emily 🎩🃏🍖
Commented 10 months ago

YeaAh 33 $farther 🍖x33 33 $regen

Lauren McDonagh-Pereira Farcaster
Lauren McDonagh-Pereira
Commented 10 months ago

Thank you Emily 🍖x20

mugiFarcaster
mugi
Commented 10 months ago

It's difficult. 200 $farther

Lauren McDonagh-Pereira Farcaster
Lauren McDonagh-Pereira
Commented 10 months ago

Thank you! Trying to understand new Farther rules and Moxie fan token rules simulatanously

mugiFarcaster
mugi
Commented 10 months ago

It's challenging with so much to remember. I’m always grateful when kind friends help me out in times like these.

Mfer Lucifer 😈Farcaster
Mfer Lucifer 😈
Commented 10 months ago

I wish I knew 😅

Lauren McDonagh-Pereira Farcaster
Lauren McDonagh-Pereira
Commented 10 months ago

I guess there isn't one now.

Brainnn🧸Farcaster
Brainnn🧸
Commented 10 months ago

yes Lauren, no minimum tip However, in dispensing the tips, quality over quantity

Golden🎭🎩✨📖Farcaster
Golden🎭🎩✨📖
Commented 10 months ago

Yeah I think so

Lauren McDonagh-Pereira Farcaster
Lauren McDonagh-Pereira
Commented 10 months ago

Sweet

Farther✨Farcaster
Farther✨
Commented 10 months ago

Tips are coming through again so the Warpcast hub issues must be resolved. Also good news: tipper scores have started populating on the leaderboard! If you don't have a score yet, its because there isn't enough data yet. https://farther.social/tips/leaderboard

agustiFarcaster
agusti
Commented 10 months ago

yes hubs are hubbing lesgooo

Gul YildizFarcaster
Gul Yildiz
Commented 10 months ago

why our tips down 1500 around and now there is no minumum tip ?

Farther✨Farcaster
Farther✨
Commented 10 months ago
Emily 🎩🃏🍖Farcaster
Emily 🎩🃏🍖
Commented 10 months ago

Tip down a lot 🥹

Farther✨Farcaster
Farther✨
Commented 10 months ago

Farther V2 has officially started! ✨ Tipper scores should populate in the next couple hours ✨ Tip recipients must have at least 100 followers ✨ No tip min, however if the average amount drops too low, we may need to enforce a min again Let me know if you have any questions

joshisdead.ethFarcaster
joshisdead.eth
Commented 10 months ago

Show an example on how tipper score works pls 🙏🫡

Angelika Kollin Farcaster
Angelika Kollin
Commented 10 months ago

Congratulations on completion of another season! Claiming was smooth! Thank you 🙏

downshift 🫴🪵🔥Farcaster
downshift 🫴🪵🔥
Commented 10 months ago

would you be in favor of folks using @microsub to support creators with their Farther allowances?

SVVVG3Farcaster
SVVVG3
Commented 10 months ago

I liked the tip minimum. Was one of my favorite parts about Farther ✨

Farther✨Farcaster
Farther✨
Commented 10 months ago

I've heard that from a lot of people. I think we'll bring it back. The average tip size is way too small right now.

SVVVG3Farcaster
SVVVG3
Commented 10 months ago

Love to hear that 🙌 I think it definitely makes the feeling of receiving a farther tip a lot better 🙏

Mina Farcaster
Mina
Commented 10 months ago

Yes,I agree. I think it's better to have this for now🤍

Marcelo Terça-Nada 💎🎩✨Farcaster
Marcelo Terça-Nada 💎🎩✨
Commented 10 months ago

Me too ✨

Guts 🧙‍♂️🎩Farcaster
Guts 🧙‍♂️🎩
Commented 10 months ago

Do we need to swap v1 to v2?

Farther✨Farcaster
Farther✨
Commented 10 months ago

No I'm not sure what you mean

Guts 🧙‍♂️🎩Farcaster
Guts 🧙‍♂️🎩
Commented 10 months ago

I mean v2 is the same farther token? Or just tipping is new version!

CharlieFarcaster
Charlie
Commented 10 months ago

No Tip Minimum?? That’s a game changer as I was giving out too much farther away to non tippers and now I gotta check if recipients got 100+ followers … well played plus validator .. I am set

Marcelo Terça-Nada 💎🎩✨Farcaster
Marcelo Terça-Nada 💎🎩✨
Commented 10 months ago

Gm friend, Even though I've already distributed all my allowance, I don't appear on the Leaderboard. What could be happening?

Farther✨Farcaster
Farther✨
Commented 10 months ago

The leaderboard is only showing people who tipped in the new season. It will be fully populated after the next cycle. :)

non 🐹Farcaster
non 🐹
Commented 10 months ago

Let's gooo!✨

darcrisFarcaster
darcris
Commented 10 months ago

How about maximum? 25% still apply?

Farther✨Farcaster
Farther✨
Commented 10 months ago

No max aside from your daily allowance. Not sure what 25% refers to. 🤔

darcrisFarcaster
darcris
Commented 10 months ago

Like before season only can tip someone 25% of your allowance. It is still apply in v2?

FadilFarcaster
Fadil
Commented 10 months ago

Bring back the tip minimum!!!!!

Farther✨Farcaster
Farther✨
Commented 10 months ago

Farther design principles (work-in-progress): ✨ Keep it simple ✨ Start small & iterate ✨ Learn from others' mistakes (ex: bonding curves) ✨ Build on existing behavior (tips) ✨ Prioritize social experience over financial ✨ Make it fun!

joshisdead.ethFarcaster
joshisdead.eth
Commented 10 months ago

Always make it fun!

meta-david 💥| Building Scoop3Farcaster
meta-david 💥| Building Scoop3
Commented 10 months ago

This was my first season I got an allowance, and I absolutely loved participating in it. Tbh, I’m a little worried about next season. If we’re being candid, I don’t think these tips will really resonate with people totally new to Farcaster and won’t influence their retention one way or another (not because of anything wrong with the token but even most newbies will ignore it). If it’s intended to be a prediction market play, that puts it very squarely up against Moxie this season, and they have the attention and momentum right now. It’ll be impossible to compete with that. IMO, slight tweaks to weed out farmers would be wise, but a totally new playbook might put Farther on the same trajectory of other tokens which over-pivoted. Just my friendly 2 cents coming from someone who really enjoyed the mechanics this season and not as optimistic next season.

Farther✨Farcaster
Farther✨
Commented 10 months ago

I appreciate the feedback. I detailed all the reasons why V2 is an improvement here: https://paragraph.xyz/@farther/farther-v2 As for Moxie, all I will say is it is starting from an extremely high valuation and there is a graveyard of projects involving fan tokens on bonding curves. I wish them the best though.

meta-david 💥| Building Scoop3Farcaster
meta-david 💥| Building Scoop3
Commented 10 months ago

I hear ya and generally agree regarding fan tokens with bonding curves. I’m still rolling with Farther, and I’d love to be very wrong about my thoughts.

wahoo.eth 🎩✨Farcaster
wahoo.eth 🎩✨
Commented 10 months ago

1000 $farther

MetaphoricalFarcaster
Metaphorical
Commented 10 months ago

love it! now just need some long-term supply/demand pressure…

RyanFarcaster
Ryan
Commented 10 months ago

Been enjoying farther so far, looking forward to seeing how V2 plays out

chinemelumFarcaster
chinemelum
Commented 10 months ago

Rooting for farther. 300 farther

Degury.degen.ethFarcaster
Degury.degen.eth
Commented 10 months ago

And It's really neat🫶🫶🫶

Saxophone55Farcaster
Saxophone55
Commented 10 months ago

Today's tipper score dropped by over 100 points compared to yesterday. It's really hard to predict.🤔 Frame by @saxophone55.eth

Kyle PatrickFarcaster
Kyle Patrick
Commented 10 months ago

We still go farther 177 $farther

downshift 🫴🪵🔥Farcaster
downshift 🫴🪵🔥
Commented 10 months ago

I'm supporting you through @microsub! microsub is now in public alpha for $DEGEN, with support for HAM coming soon. 🍖x234 (Please mute the keyword "ms!t" if you prefer not to see these casts.)

AkoFarcaster
Ako
Commented 10 months ago

How did you calculate the tipper score ? It's for current season or next ?

Saxophone55Farcaster
Saxophone55
Commented 10 months ago

It seems to be the points that will be used for v2 starting in August. Apparently, it changes based on your OPENRANK score. https://paragraph.xyz/@farther/farther-v2

AkoFarcaster
Ako
Commented 10 months ago

Yeah have read it already ,much excited for next season , I'd be there !

non 🐹Farcaster
non 🐹
Commented 10 months ago

🫡 177 $farther

M.D Luffy 🤠Farcaster
M.D Luffy 🤠
Commented 10 months ago

I don't hav it but Cool frame farther 69 $wild 69 $tree

eggcooker.base.ethFarcaster
eggcooker.base.eth
Commented 10 months ago

Very useful. Thank you. 200 $farther

Diana🎩Farcaster
Diana🎩
Commented 10 months ago

Farther together fam💙

demangFarcaster
demang
Commented 10 months ago

@saxophone55.eth same with me brotha I don't know how it works but let's go farther together 180 $farther

ShuyuⓂ️🎩🍖🎭周瑜Farcaster
ShuyuⓂ️🎩🍖🎭周瑜
Commented 10 months ago

Have a nice day🍀🍀🎭 🍖 x 200 191 $farther

Marlli🎩🍖🐹Farcaster
Marlli🎩🍖🐹
Commented 10 months ago

We still vibing and still moving far 🍖x100

Saxophone55Farcaster
Saxophone55
Commented 10 months ago

✨farther✨ Frame by @saxophone55.eth

downshift 🫴🪵🔥Farcaster
downshift 🫴🪵🔥
Commented 10 months ago

I'm supporting you through @microsub! microsub is now in public alpha for $DEGEN, with more tokens coming soon. 🍖x233 (Please mute the keyword "ms!t" if you prefer not to see these casts.)

Vlady🎩Farcaster
Vlady🎩
Commented 10 months ago

wowowow love frame

chie lilybellFarcaster
chie lilybell
Commented 10 months ago

おとうちゃん✨ 190 $farther

wakkinFarcaster
wakkin
Commented 10 months ago

good frame!! 300 farther 🍖 x 555

PenguinFarcaster
Penguin
Commented 10 months ago

I wanna know my tipper score too :(

M.D Luffy 🤠Farcaster
M.D Luffy 🤠
Commented 10 months ago

Let's Go farther 22 $degen 69 $tree

Mina Farcaster
Mina
Commented 10 months ago

Does tip score must be higher or lower?

Saxophone55Farcaster
Saxophone55
Commented 10 months ago

Seems like it's some kind of bonus points given in v2. I don't fully understand it yet either... https://paragraph.xyz/@farther/farther-v2

Diana🎩Farcaster
Diana🎩
Commented 10 months ago

Farther together fam

Emily 🎩🃏🍖Farcaster
Emily 🎩🃏🍖
Commented 10 months ago

Go farther ✨✨

DegenDog🎩🔵🍄🎭Ⓜ️Farcaster
DegenDog🎩🔵🍄🎭Ⓜ️
Commented 10 months ago

Farther we together 🙌

Introducing Farther V2