Low-cost investment, huge financing social protocol Farcaster interaction strategy

Author: Shenchao TechFlow

As LayerZero launches its token amidst criticism, the much-anticipated airdrop wave of projects comes to a temporary halt. The insider trading of Zksync and LayerZero's witch hunt have also dampened players' spirits, with some veteran players stating that the golden age of profit-taking is over.

However, as long as the market exists, new projects will always bring a continuous stream of opportunities.

The four kings have ended, but there are still three new horses pulling the cart—Monad, Bearchain, and Farcaster.

All three have just disclosed massive funding this year, presenting numerous opportunities. Recently, there have been rumors that Farcaster might launch a token, significantly increasing its interaction weight and making it one of the must-participate projects. The interaction tutorials for Monad and Bearchain have already been published by Shenchao TechFlow, and today, I will guide you through interacting with the recently announced high-potential social sector Farcaster.

Funding Background

Farcaster's funding background is also quite strong. In May, Farcaster announced the completion of a $150 million Series A funding round at a $1 billion valuation, led by Paradigm, with participation from a16z crypto, Haun Ventures, Union Square Ventures, Variant Fund, Standard Crypto, and others.

How to Participate

Farcaster itself is a layer protocol, and Warpcast is the application layer developed by the Farcaster team, currently the hottest application in the ecosystem. The main way to interact this time is to register and use Warpcast.

Register Warpcast

Warpcast can currently only be downloaded from the Farcaster official website or mobile app stores, and registration must be done via mobile.

Registering for Warpcast requires a payment of $5 (surprisingly, it can currently only be paid in fiat currency, which is not very decentralized).

Before payment, the system will assign you a new set of mnemonic words as your Warpcast interaction address, which is very similar to FriendTech.

After registration, you can log in to the web version by scanning a QR code with your mobile device for easier interaction.

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

Link Common Active Base Addresses

Warpcast can link commonly used active wallet addresses, isolating them from the wallet address provided by Warpcast.

This is done to ensure that frequently active wallets also have Warpcast-related airdrop weight. For example, @Spectral_Labs previously distributed airdrops to active Warpcast users. If you linked your common wallet in advance, both addresses might have a chance to qualify for the airdrop.

You can use the linked Base wallet and bind it to Warpcast to experience Farcaster Index, trading meme coins in the Farcaster ecosystem, such as the popular $Degen and $Nouns.

Additionally, you might consider purchasing Farcaster OG NFT, which currently has a floor price of 2.3 ETH, with a total supply of no more than one thousand (not necessary, proceed according to your means).

Platform Interaction

Posting, Commenting, and Liking

Using the airdrop standards set by @Spectral_Labs as a reference, Warpcast users need to have 10 followers, 10 posts, and 10 likes. This indicates a screening standard for active users.

It is important to note that Warpcast's posting mechanism defaults to only pushing posts to followers. If you are a new user without followers, it will be difficult for your posts to gain traction.

To gain more exposure for your posts, consider posting in popular community channels, such as /crypto, /build, /base, and /degen, which previously gave large airdrops to active community members. You can enter these channels through search.

At the same time, actively commenting and liking other users' posts is the fastest way to gain followers.

Experience Frame Functionality

Frame is the interaction module of Warpcast. Users can perform various on-chain interaction functions within the client, such as voting, minting NFTs, playing mini-games, and claiming airdrops through the Frame module.

Currently, the experience of using Frame is slightly laggy, but normal interaction is not affected. It is recommended to create your own Frame to increase potential airdrop weight.

If you are unsure which communities or Frames are active, you can check the Farcaster Dashboard on Dune to understand current trends on Farcaster.

Purchase and Use In-Ecosystem Currency $Warps (This step requires spending)

$Warps is the built-in currency of the Warpcast application. The good news is that it can be paid for with cryptocurrency; $5 can buy you 500 $Warps.

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

$Warps can be used for:

• Creating your own channel (2500 $Warps = $25)

• Giving tips to other posters

• Connecting Warpcast accounts to other applications in the Farcaster ecosystem

• Posting in certain paid channels

• Minting NFTs

Creating and managing your own channel may increase your future airdrop weight on Farcaster. Readers with the capability can mint their own channel.

It is important to note that $Warps is not on-chain; it is merely a centralized token within the platform, and Warpcast officially advises users to actively spend their $Warps rather than hoarding them blindly.

Obtain Power Badge Identity

The Power Badge is a certification mark awarded by Warpcast to highly active real users, and this mark is not permanent. Users with Power Badge identity may also receive higher airdrop weight.

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

• User activity determination, using Warpcast multiple times a week.

• Whether posts are well-received by other Power Badge users, determined by comments, shares, and likes from Power Badge users.

• Whether posts are deemed spam by other Power Badge users.

From the conditions provided by the project team, it is clear that the purpose of offering Power Badge identity is to encourage real users to use Warpcast for posting and actively participate in community interactions, becoming genuine players.

Conclusion

Farcaster's current interaction strategy requires a certain cost, with no upper limit on actual investment; it is up to the individual. To avoid an imbalance in input-output ratio, it is recommended to focus on creating a few quality accounts for testing strategies and seriously participate in the project ecosystem. After all, there is a trend of common integration among on-chain social protocols, and Farcaster is performing well alongside other social protocols. Therefore, consider linking your Warpcast account (which is also your Farcaster account) to other social protocol applications (such as Phaver in the Lens ecosystem) to maximize benefits, which may lead to unexpected rewards.

Related Links:

• User Data https://farcaster.network

• Farcaster Meme Dashboard https://farcaster.in

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

• Popular Users https://fc.hot100.xyz