Disclaimer
This post is by no means an investment advice.
I value financial primitive, & social layer, experiment re-combinations since I strongly believe in the common sense of smart collectives, that is, I am in it for the tech.
The combination of composable social graph and financially technological block-building has culturally evolutionary implications for the society—hence, I am just sharing my personal notes here.
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If you do not like to read whatsoever, please just skip to the Upcoming & Recently Launched Tokens on Farcaster Social Layer section which is behind a paywall via my Hypersub space (0.005 ether per month)—you can subscribe through this link.
Table of Contents
Introduction
Upcoming Projects
Bonus
Rugs
New Channels
Introduction
Sufficiently decentralized social protocols have taught us that we do not need to call some assets social tokens—nor do we need a semi-custodially easily-ruggable platforms to house them to roll down the trough of self-bootstrapping.
In this line of thinking, on exactly 2023-12-28, I posted the following on my DeBank social stream:
It was when the DEGEN token airdrop phase 1 went live, and I received a humble amount of 10M thereof.
People then were perceiving such an ERC20 as a mere speculative hypershitcoinery asset. Some of their points were right whilst those perceptive misinformatics also cast shadow on the innovative aspects of such an enterprise.
Slow slow, they have come to appreciate.
During those days, there was not yet an influx of users; & people were careful about not flooding the timeline with nonsensical posts with tickers only.
If teams devise understandably well-versed methods of social integration mechanism for their products, we at times are able to blend that which is overtly financial into the non-financial games of life with the beauty of limited playability—without rugging your timeline.
Some mechanism designs regarding DEGEN was so successful, in my humble opinion, thanks to Farcaster protocols sufficiently decentralized building-blocks; it also showed many people what the social layers across DeFi is capable of, and how in fact DAOs, public goods funding, and the like, are in a rather medium tightly-coupled such experiments in reality are—at the very least, many founders who apparently had not ever tried DeFi in a non-custodial fashion have come to learn at least Solidity 101.
What's more DEGEN was, and maybe still is, a test in prod experience—of which many are not aware yet still lucky to have witnessed it.
Here, we also need to remember those that had come before DEGEN such as: POINTS, FARTS (that 25 ETH could have been saved), FARTS v2, WOWOW, and others. The culmination of these let the DEGEN picture a better approach even it means a transition from a simple custom reaction button to tipping-in comments.
Fast forward to the end of Q1 2024, DEGEN is about to launch their Layer 3; and, several communities across Farcaster (mainly via Warpcast client) are experimenting with financially-enabled collective probabilities through what's currently dubbed as channels.
DeFi frenzy of late 2020 perceived NFTs as natural building blocks to enable composability in-depth. DAO-craze of 2021-'22 gave us the perfectly evolving Nouns ecosystem. Farcaster has given us a platform where societal implications amongst builders, founders, ordinary users, and others, have provided sandboxes for information-accelerated both financial, and non-financial, world-building.
As we have progressed, narratives have also matured to the point of genuine story-telling.
As I have been traversing the echo chamber reminiscent channels across Warpcast when it comes to financially-motivated communities, I have realized that even the monstrous degen have come to appreciate the cultural lines whereas puritanical figures have come to appreciate the game of life properties of decentralized and open finance.
I recall a post in Shitcoin Praxis questioning whether NFTs will do any good to DeFi in general. Today, NFTs are indispensable assets marking your contribution to any liquidity pool—to affirm the least.
The question as of today is:
Will seemingly memetic-hypershitcoinery enable utterly honest markets amongst peer across the decentralized social since the statuses are mutually inclusive thereabouts?
Please, medium roast.
Related post: WTF is /baseline markets?
Upcoming & Recently Launched Tokens on Farcaster Social Layer
If you are active on Farcaster, you are probably aware of the following assets, and communities. Here, in this section, I will just be providing necessary information thereof. To continue reading, please subscribe to my Hypersub.
In this section, we focus on:
Upcoming ERC20 and ERC721/ -1155 projects
Recently launched projects
...&, fresh channels to join on Farcaster
Upcoming Projects
Onchain Gaias
Onchain Gaias at first instance is a PfP project. Another PfP project? No. I have been following Ciniz for years on X. A personal fav when it comes to beauteous degeneracy that is handsomely more altruistic than many.
When Ciniz embarked on Farcaster, I believe you were able to see that power-user figures from CT, that would be Crypto Twitter, were also opening up their accounts. /replyguys channel were providing the foundation when /wearesoearly was just taking off.
Now, everyone calls themselves on the artistic thresholds of imported-institutional art worlds across weeb3. However, the real curators are those who manage to bring together the art and the artist with an actual ownership economy thereof by also forming a novel community across loosely-coupled communities on an emergent layer.
That is what ciniz.eth was able to do by seeding the Onchain Gaias in partnership with artists such as Anton Marrast.
As we are approaching the launch, right now the only way to be able to acquire the right to mint from the collection is via the ticket: Degen's Golden Ticket aka the TICKET.
The ticket was free for people who paid attention for weeks, or who had a wallet with rather robust provenance. Now, it trades at around ~1300 USD, that is 0.36 ether. You can grab a ticket via secondary markets:
https://opensea.io/collection/onchain-gaias
Imagine Infra
!!!
If you are into Zora lore especially since day 0, you are most probably a crypto-media geek as well who can align with the kulturwissenschaft circles across the interwebz without knowing an iota of contemporaneous German.
From what I can gather, Imagine Infra is similar to Enjoy more or less. They are going to be airdropping soon, and if you have been an avid enjoyer of Zora-related circles, you might have a bucks or two—the project denies any ties to Zora.
Onchain Coin
Well, they call themselves a coin, and I take that seriously. Since calling yourself a coin usually means that you are going to have your own blockchain—compared to being a token. Yet, the "devs" might have just liked how it sounds. I am not even sure.
I do not know anything about this team—but the sidelined narratives exhausted at the Solana memecoin craze are now rotating into probable EVM L2/L3 memecoinery across Farcaster channels. This is one of them, and the only thing you should do is just to use their onchain score checker frame when it's issued:
Recent Launches
Meelay
I usually do not share low cap ERC20s with anyone since 99% of people will rug themselves. There are some people on Farcaster that I do not personally know but am in constant interaction with on the timeline.
One of such friends, Lucas, has recently launched a modest memecoin on the Base network, and it's been holding nicely, to be honest. I think DCAing in clips will be my strategy around this one.
Yes, it's memed after the Argentinean president Milei—MEELAY:
I miss these types of memes amongst smol circles of friends, and that's why I am hopeful about such experiments across the chain especially when it's leveraged by the composaibility of the social layer.
In the meantime, there is a Bountycaster post by the founder looking for a meelayfier:
Higher
I have come to realize the existence of HIGHER via the Rounds dot WTF interface. Rounds is a tool where you can track posts under a certain Farcaster channel such as Nouns, Higher etc. as submissions.
These submissions are awarded. That is, the posts you shared on Nouns channel gets paid in ether whereas your memetic incantations across the Higher channel is awarded in higher.
The following is my own memetic submission from my Onchain Surfers collection which is a memetic take on channels:
We cannot deny how seamless the Nouns ecosystem is making it all for us.
Enjoy
ENJOY has been airdropped to people who have been active across the Zora ecosystem, and been paying attention to the Seed Club mints, and the like.
What distinguishes enjoy from others on this list is that it's the first ERC20 token on the Zora network—given that the Uniswap has reached a quorum to deploy the protocol on top thereof.
Bonus
FRAME
Speaking of degen and others, I think it's a must to mention FRAME here. frame is still out there, and performing well. The reason I am mentioning it here is the builder culture the team have. They keep supporting hackathons and individual builds anytime they can. Please keep an eye on them.
RUGS: TICKER
People have been on fire due to a development from the last night. As I was typing the first section of this post, I was determined to include the token TICKER which did a pre-sale via Party App—I put in around 10 USD. At the end of the day, I think given the recent developments around DeFi rugs originating in France, and their law bodies' indifference to such crimes, some French people rugged about 1M USD.
Now, some of our friends are unhappy that they have made these culprits visible, and caused a popularity contest for them—let me tell you a word or two buddy: Just seize the day, you do not own markets anything. You are just a good person.
In the meantime, some people think that it's a bad image for Farcaster. Let me tell you a fact: Farcaster is a protocol, and channels are permissionless. You can onboard Farcaster via any client in a permissionless matter.
Do the math. Nothing can be a bad image for an hyper-structure that is but a non-entity. Farcaster has a quality daily active user funnel which keeps it still actively fresh if you believe in the powers of advanced search and technological acceleration.
Me? I made 10 usd profit by in actual selling my Party contribution NFT right after claiming my allocation. That's the market you are in. Also, I had to issue a souvenir for my subs:
New Channels
I think it's significant that you know which channels to follow. If you are following the above-shared channels, it's highly probably you have already subbed to the following ones:
/paidgroup
/bros
