This week, we explore the potential of prediction markets and onchain reputation in fostering community engagement. We also discuss a controversy surrounding Farcaster, a decentralized social network, over its handling of channel names. Join us as we delve into these intricate aspects of the Web3 world.
Yours sincerely,
Popula Team
Ecosystem and Industry Insights
The article discusses the intersection of prediction markets, onchain reputation, and community engagement within social platforms. The author's need for Airbnb recommendations leads to envisioning a platform where onchain data and social connections inform decisions. The article delves into the potential of prediction markets beyond gambling, particularly in assessing the credibility of information and fostering community moderation. The article emphasizes the importance of open and verifiable data, suggesting that the future of permissionless social platforms lies in decentralized community-owned moderation systems. Despite not focusing on this right now, Popula is working at the intersection of onchain reputation and community engagement and has the potential to play a role in shaping the kind of moderation and curation systems envisioned by the article.
The ‘/bankless’ Farcaster Channel Incident
Criticism hit the (sufficiently) decentralized social network Farcaster after it seized the ‘/bankless’ channel name previously registered by a user to give it to the influential crypto podcasters and DAO. The incident raised concerns about the platform's claim of decentralization and user-controlled data. The co-founder of Farcaster, Dan Romero, offered the user to refund the Warps spent to open the channel plus $25 worth of USDC on Base as compensation, prompting backlash from the user and others who saw it as setting a negative precedent. Romero defended the decision, stating that the platform's channels were not yet decentralized. However, critics argued that this action contradicted the principles of decentralized networks. Romero pledged to make Farcaster channels onchain later in the year to prevent such incidents. The situation highlighted the tension between decentralized systems and issues like squatting, emphasizing the need for a nuanced approach to managing identifiers in decentralized networks. While sufficient decentralization made it easier for Farcaster to scale and attract new users, it also poses ethical problems and limitations to the true promises of Web3. This is why Popula chose to instantiate communities on independent smart contracts, and record all data and interactions onchain.
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Popula Spotlights and Community Updates
Community Event Highlight
In an early round of the Sprint, Popula invited its community to explore its core features, offering an opportunity to gain insight into the broader scope of our vision. Now, we’re delighted to unfold the 2nd round of our Zealy Campaign — Creatives’ Voyage. This adventure is designed with a focus on creators, fostering an environment where the boundless potential of creative minds can thrive.
📅 Ends on Mar. 21 at 12 PM UTC
🎁 $200 in $NEAR
Read more details here 👇🏻
Community of the Week
NEAR Indonesia: Near Indonesia is the place to accelerate the adoption of blockchain technology for applications in everyday life to welcome the future. The vision is to make Indonesian people great to adapt, adopt and familiar with using blockchain technology to face upcoming global challenges. They welcome developers, community managers, content creators, influencers, blockchain enthusiasts, investors, traders, digital artists etc. Join now to become one of them!
Communities on Popula
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Behind the Scenes and Product Updates
Street interview: What are the social and cultural implications of Web3?
In our latest release, we have delved into an intriguing topic: the social and cultural implications of Web3. We have asked various individuals to share their views. We also want to hear from you. What are your thoughts on the social and cultural impact of Web3? Do you think it's a revolutionary step forward or a potential cause for concern? Watch the video here and leave your thoughts in the comment section!
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