The social track really isn't working. Even Farcaster has to pivot to Wallets to make money 😅.

Last year, Debox did a massive rug pull and the whole network was fighting for their rights.
This year, Lens ecosystem's Hey had a user retention rate of only 0.23%, couldn't make ends meet, and shut down.
Only Towns took advantage of the bull run to launch a token, gained a good reputation, and stuck around.

Last year, during the Farcaster FOMO, everyone was charged a fee and called it a big airdrop. Now, everyone just gets hit with a registration fee, wastes time interacting and doing tasks for nothing.

With no one renewing subscriptions, high fundraising but low revenue, if they want to keep operating, now they probably want to focus on wallets. Maybe in the future we'll see: volume farming points events, prediction points sections, seasonal trading competitions.

High EQ: Strategic pivot, shifting from social-first to wallet-driven growth.
Low EQ: I'll leave the lines to you all.

By the way, when will that built-in wallet event come back—the one where you deposit 5KU for 10 weeks and get 500U? It only lasted two days, and there was no clear start date before it got shut down. Too stingy 🫤. Run some good campaigns and people will actually want to use your wallet, @farcaster_xyz.