How does Farcaster, a social protocol with low investment and huge financing, interact?

06-20

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Original author: TechFlow

As LayerZero issued its token amid criticism, the highly anticipated airdrop trend of projects has come to an end. Zksync’s insider trading and LayerZero’s witch hunt have also chilled the hearts of players, and some old players bluntly said that the golden age of staking has passed.

But as long as the market exists, new projects will always bring endless opportunities.

The Big Four are over, but there is a new Big Three – Monad, Bearchain and Farcaster.

All three have just disclosed huge financing this year, and there are many opportunities. Recently, there is a rumor that Farcaster may issue a coin, which greatly increases the interaction weight of Farcaster and makes it one of the must-buy projects. The interactive TechFlow of Monad and Bearchain has been released by Tech Flow. Today, the editor will take you to interact with Farcaster , a potential stock in the social sector that just announced a huge financing last month.

Financing Background

Farcaster also has a strong financing background. In May, Farcaster announced the completion of a $150 million Series A financing round at a valuation of $1 billion. Paradigm led the investment, with participation from a16z crypto, Haun Ventures, Union Square Ventures, Variant Fund, Standard Crypto and other institutions.

way of participation

Farcaster itself is an underlying protocol. Warpcast is the application layer created by the Farcaster team. It is currently the most popular application in the ecosystem. The main way of interaction this time is to register and use Warpcast.

Register for Warpcast

Warpcast can currently only be registered via mobile phone after downloading from Farcaster official website or mobile app store.

Registering for Warpcast costs $5 (surprisingly, this can only be paid in fiat currency, which is not decentralized)

Before payment registration, the system will assign you a new set of seed phrase as the interactive address of Warpcast, which is very similar to FriendTech.

After registration, scan the QR code on your mobile phone to log in to the web page for easy interaction.

*If you have a Phaver Level 2 account, you can claim a free Farcaster account directly through the Phaver ecosystem

Associate commonly used active Base addresses

Warpcast can associate commonly used active wallet addresses, which are isolated from the wallet addresses that come with Warpcast.

This is done to allow wallets that are usually active to also have Warpcast-related airdrop weights. For example, @Spectral_Labs previously distributed airdrops to active Warpcast users. If you have linked your frequently used wallets in advance, then both addresses may have the opportunity to qualify for the airdrop.

You can use the associated Base wallet and Warpcast bound wallet to experience Farcaster Index and trade Meme coins in the Farcaster ecosystem, such as the popular $Degen and $Nouns.

You can also consider purchasing Farcaster OG NFT . The current floor price is 2.3 E, and the total amount does not exceed one thousand (not necessary, do what you can).

Platform Interaction

Post Comment Like

Taking @Spectral_Labs ' airdrop standard as a reference, Warpcast users need to have 10 followers, 10 post records, and 10 likes. It can be seen that this is a screening standard for active users.

It should be noted here that Warpcast's posting mechanism is that by default, user posts will only be pushed to fans. If you are a new user with no fans, it will be difficult for your posts to be popular.

If you want your post to get more exposure, you can choose to post in popular community channels, such as /crypto, /build, /base, and /degen, which previously gave huge airdrops to active community members. You can enter the channel by searching.

At the same time, actively commenting and liking other users and making yourself familiar to other users is the fastest way to attract fans.

Experience Frame

Frame is the interactive module of Warpcast. Users can implement various on-chain interactive functions in the client, such as voting, minting NFT, playing mini games, and receiving airdrops.

The current Frame experience is a little laggy, but the normal interactive experience is not affected. It is recommended to create a Frame yourself to increase the potential airdrop weight.

If you don't know what community or frame is popular, you can check out the Farcaster data dashboard in Dune to see the current hot trends on Farcaster.

Purchase and use the ecosystem currency $Warps (this step requires money)

$Warps is the built-in currency of the Warpcast app. The good news is that you can pay with cryptocurrency. You can buy 500 $Warps for $5.

You can also get $Warps rewards by inviting others to join Farcaster.

$Warps can be used to:

Create your own channel (2500 $Warps = 25 USD)
Tip other posters
Connect your Warpcast account to other apps in the Farcaster ecosystem.
Posting on certain paid channels
Minting NFTs

Creating and managing your own channel may increase the weight of Farcaster's future airdrops. Capable readers can mint a channel of their own.

It should be noted that $Warps is not on the chain, but is a centralized token within the platform, and Warpcast officials also recommend actively spending the $Warps in your hands and not blindly hoarding it.

Get Power Badge ID

Power Badge is a certification mark awarded by Warpcast to real users with high activity, and this mark is non-permanent. Users with Power Badge identity may also receive higher airdrop weights.

The conditions for obtaining Power Badge listed by the project are:

User activity is determined by using Warpcast multiple times a week.
Whether a post is popular among other Power Badge users is determined by the number of Power Badge users' comments, reposts, and likes.
Whether the post has been deemed spam by other Power Badge users.

It is not difficult to see from the acquisition conditions given by the project party that the purpose of the project party providing Power Badge identity is also to encourage real users to use Warpcast to post more and actively participate in community interactions and become a real player.

Summarize

Farcaster's current interactive strategy requires a certain amount of cost, and there is no cap on the actual investment. To avoid an imbalance in the input-output ratio, such social projects are recommended to carefully test the strategy with a small number of boutique accounts and seriously participate in the project ecology. After all, there is a trend of common integration of on-chain social protocols. Farcaster and several other social protocols are doing well, so you can consider using the Warpcast account (that is, the Farcaster account) to link other social protocol applications (such as Phaver on the Lens ecosystem) to kill two birds with one stone, which may be a pleasant surprise.