Understanding Moxie Protocol

With the launch of Moxie Protocol just around the corner, I wanted to put together a blog post that explains it in terms that anyone can understand. As you know, I am not the most technically minded person, so my explanation should serve as a good place to start for "normies". What am I going to cover in this blog post?

• What Is Moxie Protocol & Who Built It

• How Do You Participate In Moxie Protocol?

• How Does Moxie Protocol Work?

• Where To Check Your Moxie Airdrop?

Moxie is a new protocol built to enhance the Farcaster experience by allowing creators and their followers to share in the profits earned from social engagement. Moxie aims to attach economic incentives to Farcaster at the protocol level. The way it does this will be described below.

Built by Jason Goldberg (@betashop.eth) & the Airstack team, Moxie is an entirely new way to incentivize good content on Farcaster. If you're at all familiar with Airstack, you will be familiar with 'Not A Token' points which were earned for engagement (and other activities), then converted to a DEGEN airdrop each month. Moxie tokens will be replacing 'Not A Token'.

Anyone on Farcaster can participate in the Moxie Protocol - as long as they own the soulbound NFT. Luckily for you, I've already tracked down where to get it. You can mint this NFT here: https://warpcast.com/betashop.eth/0xd375d45d

Moxie Protocol will allow any entity on Farcaster to sell fan tokens. This means fan tokens for individual casters & the channels that they own. There will even be fan tokens for the entire Farcaster protocol. Holders of a fan token will share in the Moxie earned by a particular entity, whether that's a caster, a channel, or the entire Farcaster protocol.

All Moxie tokens earned from a cast will be automatically split:
- 50% to the member who created the cast
- 20% to fans of that caster
- 20% to fans of the channel where the cast was made
- 10% to fans of the entire Farcaster network

Here is an example that might help you understand it more easily. @dwr.eth makes a cast showing off his favorite toe spacers and earns 5000 Moxie for the engagement he gets on that cast. Those 5000 moxie would be broken down as follows:
- 2500 Moxie to @dwr.eth
- 1000 Moxie to fans of @dwr.eth
- 1000 Moxie to fans of the channel where @dwr.eth casted
- 500 Moxie to fans of the entire Farcaster network.

You can check to see if you qualify for a Moxie airdrop on this cast: https://warpcast.com/betashop.eth/0x81a9fd91

Moxie Protocol is going to offer creators and their followers an entirely new way to collaborate & profit together. Because Moxie will be earned based on engagement, the protocol will incentivize strong communities who work together to create strong content.

If you have talked to me at all recently, you know that I was a big fan of DEGEN Season 5 when allowances were based on Openrank. I thought it served to dramatically improve the quality of content and interactions on Farcaster. Moxie will create a similar incentive for good content and replies, but at the protocol level.

With the Success channel, I have had to rely on manually rewarding the best content creators - with tips, direct payments, rounds.wtf, etc. With Moxie Protocol, followers and channel participants will be rewarded automatically. It will allow communities to invest in themselves.

Imagine an entire channel full of participants, all with skin in the game. That is what Moxie Protocol is going to enable. For myself, and for members of the Success Community, I am beyond excited about this. It's going to give us an even more rewarding system to build together on.

We are so early that we can be the first participants in Moxie! I will be jumping in with both feet and giving it my full attention. It is an entirely new system to learn and understand though, so let's do it together!