Farcaster: Hard to build, easy to break, and the path to resilience
Farcaster: Hard to build, easy to break, and the path to resilience by macbudkowski.eth5764 🥝 • 2y • 0 views • 0 clicks | |
AI summary of the linked articleFarcaster has faced heavy criticism over the past few months, with Defiant saying it has only 10% of its reported DAUs, Peter Szilagyi saying its users are primarily bots, and Liron saying its valuation is overblown. The author argues the network's problems stem from permissionless growth, memecoin-driven spam, and inflated DAU numbers, and that the team's response has been to create channels that separate the user base so bad actors cannot degrade the experience for everyone. The article says Farcaster went permissionless in October 2023, that a $150M raise drew further scrutiny, and that the team has since expanded its channel system. | |
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Insightful writeup, reminiscent of BTC's development in some ways (ie small scene, everyone building their own thing), and loved that a couple met through this small corner of the space. Love the connection too: hard to build, easy to destroy akin to reputation. A blunder in a tweet from the founder, a clumsy airdrop, even subtle unkept promises can sabotage an entire network. But seems Farcaster is on the up & up at the time of writing. Thanks for sharing.  I think every social network is fragile in its early stages, kind of like a small house party. But if the house party grows enough to become a festival, then it's more resilient - if small parts of the festival are bad, they don't impact most of the visitors. BTW: Tim and I also met on Farcaster - this is how we started working on Kiwi. | |
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