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

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 tutorial 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 mnemonics 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 Warpcasts 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 dont 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 costs 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 channels that require payment

• Minting NFTs

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

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

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

Farcasters 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.

Related Links:

• User data https://farcaster.network

• Farcaster Meme Board https://farcaster.in

• Farcaster Ecosystem Search Engine https://alertcaster.xyz/preview

• Popular users https://fc.hot100.xyz

This article is sourced from the internet: How does Farcaster, a social protocol with low investment and huge financing, interact?

Related: WealthBee Macro Monthly Report: High inflation in the United States, rising expectations of interest rate hikes, Asia op

Introduction: This month, U.S. inflation intensified, but GDP fell short of expectations, triggering market concerns about the stagflation of the U.S. economy; under such concerns, coupled with the impact of geopolitical conflicts, the capital market has experienced a correction this month. U.S. and Japanese stocks have experienced a significant correction, while the situation in Europe is relatively good, indicating that global investors are not worried about the so-called global economic systemic risks; although the crypto market has experienced fluctuations, and the black swan event caused Bitcoin to plunge below $60,000, the crypto market ushered in a historic moment on April 29: the Hong Kong crypto asset ETF was approved, indicating that incremental funds are still continuing to enter and the market outlook is positive. At the beginning of the year,…