oh well i already went live
okay i'll save my idea till we're offline then
jim we're back this is exciting we're back you had a little trip so you you were doing a little college touring and stuff like that and i just got back last tuesday back home so did the show with you missed the show with erica so i did a show with erica that was really fun and then you also missed my vibe coding session with linda
i am dying first of all it's on our youtube channel so i guess i could have lost it it is this weekend but i was catching up on some other things how is the vibe coding
it's now everywhere by the way i didn't i forgot to drop it so i just dropped it last night so it's in all the places now it was let's just say this i was right and wrong so it was very easy to vibe code a web app so to go from like i was surprised at how easy that was so to go from idea to actually getting an app on vercel easy the mini app part of it i was right that's right that it's hard because i still there are still things i'm not quite sure about don't understand need help with so we haven't gotten that far but okay i got it to i got i was able to take i learned many things like i did not realize there was a dev little you know
toggle switch yeah
it's like oh there's a tech
i'm so happy that's so that's so exciting that you built an app like and yeah woman but everyone's been saying the mini app stuff is a little hard it is so even linda who says you could do it when you can and you can you
can but it's not it's not easy it's not easy like the vibe coding of an app was pretty easy the getting it to mini app in all the places not right as easy alright we are going to officially start the show like oh we haven't even done the intro yet so and while we're doing that please retweet recast re share tell everybody and we'll be back in forty seconds
welcome to gm farcaster bringing you everything from breaking news to spicy memes to the deep lore shaping this vibrant digital community more than just a show gm farcaster is your digital third space where the community connects the stories unfold and the culture thrives whether you're a daily caster or just dropping by we've got the latest buzz to keep you plugged in so grab your coffee and let's dive in with your hosts nanesh brock and adrianne for another episode of gm farcaster
gm farcaster it is monday july 21 and you are here with adriana nannishpra for twenty nine minutes of farcaster news followed by a chat with jesse pollock in about twenty minutes or so from now oh good the little so i've been having a problem where on twitter it was no longer giving that notification that i was live and it is back so that is great to see and i'm just sharing it so please share in all the places let everybody know that we are live so that we have a nice big audience for jesse when he comes on so let me just tweet this real quick
so everybody knows in about twenty minutes jesse's joining us all right very excited to talk with him we have so much to talk about so you and i haven't seen each other for almost a week or like five days but it seems like a month because so many things have happened the base app event happened which we'll talk about when jesse's here but all of that happened the coldplay concert thing happened we haven't even had a chance to talk about that so that happened while we were while we were gone and then the really big news of course is that the trending feed went away i think they did it when they knew we weren't gonna be on
so i'm still recovering from that so my trending feed is gone and i am sad i'm very sad
i'm i have access to the trending feed
why do you have access to the trending feed because you didn't update your app wait
no my app is updated i found a i found a backdoor
can you please send the backdoor to me please yeah yeah desperately need the backdoor
the so nayanar has an explore feed which i tried and it's just it's not what i'm looking for i think it could be like with some tweaking but not quite there alright but let's dive in to all the things and we'll talk more about the trending feed in just a little bit but we've got a lot to talk about this first from brad q twenty nine seconds of farcaster what did you miss this weekend important jesse dot base dot eath is on gm farcaster this morning around noon yes he will be here shortly new full screen video feed we are gonna chat about this in just a bit lots of talk about coining po posts earnings and how it works and hopefully we can get some clarification from jesse on that keeping with the jesse theme this is continuing on with brad he shared a helpful post about onboarding people to tba we will talk about that as well this week in mini apps featured linda talking tip in with cam and niftytime eth burt worth shared a cool memories board of his fc journey which was adorable and i saw knuckles on it brackey was busy giving out tens of millions of brackey with the british open and also a fair bit of nft talk on the timeline woohoo nfts are rec colin shared some interesting data on paragraph support coins launch and two notable examples by jamie and debbie the tba release has spurred some good conversations about content coins and protocols too much to post here but we'll be talking about that and then of course shouting out us thank you brad also this regarding coldplay it's from ted i don't think song a day man posted it directly on farcaster but he coded a little game called coldplay canoodlers where you are the camera operator and you have to find them it's really funny and then it went viral so congrats songadae man you went viral on tiktok and it's hilarious
okay so the this was really cool to see starting today a far this is from dan farcaster sign ups are cheaper any app base zapper recaster firefly can now sign up users for a 0.20¢ like 20¢ on chain in the farcaster app we're moving sign ups from $3 to $1 we have to pay the app store fees we also offer free sign ups for people who connect an eligible ex twitter account so there you go so if you are watching this on twitter on youtube and you are not on either the base app or farcaster go ahead and get signed up we'd love to see you on there and now it's cheaper so it's basically i think for if you're on like the base one it's even free to the user completely so for most of these you're not even gonna see any fee it's gonna be the app that's paying is that how you're taking this too adrienne
yeah i think so and i think the ultimate goal is to make it so cheap that the client's gonna cover the cost
exactly yeah so there you go we're getting there new video feeds so i've had this video feed for a little bit because i was in the in the beta testing so this from vee a new full screen video feed makes it easy to watch videos from your favorite creators also has great gestures for fast navigation including liking speeding up and commenting on videos it comes with a new video algo that prioritizes videos from people you follow while also showing you the best videos from across the network tap any video or the top right video feed button to launch it so essentially it works like tiktok where you can just keep scrolling through videos it's similar to if you're using the base app beta you'll also see a video feed and it works similar to that it just doesn't have its own little like place it's living it kind of does i guess i guess if you go right into the video feed but most of the time you're going to probably see one video hit it and then probably keep scrolling at least that's what i've been doing so i like it i think it's a useful way to consume the video you can also in the top corner is what he's talking about you'll see something that looks like a little video you can just click on that so it does give you that just straight up video feed and you can just keep scrolling through to see additional videos and it looks very much like a tiktok style of feed i don't love the algo for the base app video feed i like the video feed don't love the algo i like the algo better on the farcaster video feed so far so is some of that related to the fact of how often gm farcaster is seen in the feed maybe
could be gm from tva you watching in our in our mini app that's awesome
dylan take just take our feedback right back we just want a little algo booth for gm forecaster videos to show up in tva hello
that's it that's it that's all i want and it really does help us out and i had i actually had shared this feedback last week with jesse and shintan and and some of the team and they were super responsive said they're working on it and they totally understood some of that feedback so and great to see how responsive they are too i really appreciate how responsive the base team is must see tv must see gm forecaster
this from ultimately i mean i don't even know if this needs to be said and i know jesse has talked about reminding people tba is still in beta not open to everyone there's gonna be rough edges i mean we're if if you've been a forecaster you kind of expect that anyway you're kind of it's it's being built as we go
used to it yeah
constructive feedback always appreciated so it's like the expect things not to be super polished although the base app is pretty polished even though you know there there may be some rubber edges i had a point but i forget it because
gregarious if you were i think you were at farcon so you should you had opt an option to access it then i don't know if you ever did but if you update your coinbase wallet app you might have access to it if you do you'll see it in your profile you'll see a toggle to turn on beta but i'm honestly not sure if you do and if you don't they'll more and more you'll see jesse and aniri posting hey i have 50 invites so just look for those as well and they'll and they'll hopefully hopefully be able to get you on there so you just post your video that's it so what i would recommend if you're trying to get into that video feed and what i've been doing is just posting the vertical video alone so not with other links not with other photos not with other things and just to make sure that it looks right in
the feed i don't know if you have to but
i feel like you have to so i would do that and arjan i don't know if you've i think it popped up for me i'm trying to remember i feel like i saw you in a feed i just don't remember where so it is it is working it's working a few more notes on this from dan coming soon video ux upgrade in a new way to earn it's already out there but a few more notes about it in addition to supporting the base launch the team has recently been focused on three priorities one) bug fixes performance still not out of the woods but the app should be feeling much better especially for android users compared to two weeks ago if you're an android user and you're in the chat let us know if you're seeing improvement two improved video ux should be rolling out soon that is now out and that's what we were just talking about the text based home feed is not going anywhere you'll have both of these options i like that kind of a split i think that's the right approach so that you don't lose the text based sort of feed as well because i think that's important and then three a new way to earn we've been working on a new on chain way for people to earn while casting i've been testing this note this will be different than the experiment that the base app is running feature not a bug having multiple clients means the protocol can run multiple experiments and results in more opportunity to discover new features that work well and help grow the network let me just check my little group chat to see if they said i could talk about this yet i asked earlier and i don't think anybody answered me but i have been testing the new feature i am excited about it i think it's really interesting and i think it will have a different appeal i think it's great that it's not the same it's not going to be coining just so you know not it's not going to be the zuora integration that base has it's different but it is a way to support creators i'll put it that way i'll say more when i can because i have really fun stories and i can't say
they shouldn't they shouldn't invite the journal to the group chat
they really shouldn't talk about it i am i am i am the atlantic inside inside the signal gate it's killing me because i actually if you caught it there was a moment where i posted something that i wasn't supposed to post if you saw it then you know what i'm talking about
did you delete it
i deleted it because i was like oh shit i didn't realize i wasn't supposed to share that yet so anyway i'm really excited and we should be able to talk about it on wednesday so i think it's gonna launch i think maybe today or tomorrow and then we'll be able to talk more about it but they're still testing and you know squashing some bugs and things but it's i
it's i asked vee i asked vee if i could also test it and i didn't get in the group chat so i don't know
i don't know you know what's funny is i wanna know
and you haven't told me not that
i haven't told i haven't no i know we haven't talked so i haven't told you and i'm looking to see i don't think yeah i don't think anything's launched yet so i can't say anything yet and i will say more on wednesday i assume by then we'll we'll be able to talk about it but i think a lot of people will find it very interesting and i think it's going to be a great experiment versus like coin you know i think it'll be a great opportunity to to compare some different approaches so that's gonna be fun oh they talked about it in the last dev call last week oh okay i just don't know if
i can see you know what but that's all maybe don't because also the dev call they're anyone's they're open they're public anyone can join but most people don't join yeah so i think
so if you do you have some work yeah farcaster requires proof of work
that's right
we can i have something to say about that as well but i can't say that's in relation to that but anyway we'll talk more wednesday this is from rish we got a fair number of asks for two things one developer branded signers for sign in with nanar so it says sent from developer brand instead of saying sent from nanar and sign in with nanar inside mini apps both are now are both are solved now mini app developers can now use sign in with nanar to get permissions without leaving the mini app to an external web page developers get their own branding so you can check out the docs and learn more there by the way all this like development just trying to do this little mini app this little tiny nothing game so much more appreciation for all this stuff like just mad respect for j c four p like i already had it like insane respect now but also for anyone who's built an any app that does anything beyond like anything beyond like very very simple because to elenia i'm like lost already so shout out to all you crazy people i have great appreciation for you adrianne more so than i ever did alright
and i have had to host the show without you so i have great appreciation for figuring
out how to do it we have different skills very different skill sets okay the trend by the way
just shout out if you are watching on our mini app or on twitter also hi if you're watching from tba let us know but you can't comment we haven't built commenting in the mini app
right
so you can only really comment on youtube so if you hop into youtube you can say hi but our friend hamalama is like paying people to say hello yeah so we had our own hype man in the comments so if you're a member
of the group thank you yeah thank you gloomy llama hama lama he goes by many names amazing yeah i saw that today i was like oh that's so great i once you hear first one down many apps are just like riding a bike okay well right now i'm falling off that bike constantly so i still need training wheels is what i'm trying to say or a tricycle might even be better like a little tricycle or one of those like bug things anyway so this is for me this really sucks in response to b starting today the trending feed will be removed from farcaster apps trending was launched a few years ago to help user discovery since then we've added better ways to discover users in feed suggestions rewards leaderboards and algo recommendations fewer than 5% of users so this is all your fault 95% check the trending feed every day and the algo we use for trending is no longer helpful for discovering new users disagree and the spirit of simplifying the app or removing this feature which has long outlived its purpose so this has been dan's been mentioning this for a while
there were a lot of people peachy's one of them who were did not like the trending feed so she would use it and look at it but found that it was lacking that it was gamed or felt like it was gamed and and then 95% of people didn't even check it why i liked it for me it made it very easy to make sure we weren't missing anything for one thing it gave you a quick view of like what's happening across the network and i almost always and i showed a video directly to be on a cast of like going between my feeds they were very different my home feed looks nothing like the trending feed so very few overlaps so that's why i'm like the home feed is not quite there yet i still wanted the trending feed however and this was a conversation that i had with dan in dcs was that because i get out so i posted that and i i got some outreach
can i
i got some outreach on that
my when i saw you do that and obviously i'm not the only one so when vee announces the trending is going away everybody knows you like the trending i know when i saw you you cast i was like wow a rare crash out
yeah i totally was like you were sad
have the most i i i think you have the most discipline in terms of managing emotions on your feed
mhmm
so i've never seen you come out and say like this
well this sucks
and i was like wow
yeah so it got it it got some attention i didn't didn't intend that but it was a good conversation and one of the things he mentioned was that there were a lot of people who complained about the trending feed so essentially those of us who liked it didn't talk loud enough because we liked it and we didn't have any issues with it and those who didn't were very loud very very loud and it became just an untenable thing where it wasn't really worth it and they couldn't quite get it to a point where people were happy with it so this is why we can't have nice things okay
by the way i'm listening right it just in terms of the if you are building something the the complainers are always louder like your your fans are are typically silent and or can be
we're just content but also yeah
but also so it's easy to be like oh ignore the haters but you can't right like i think if you're building you kinda have to build like your app is only as good as your least happy user
maybe probably yeah yeah so i get it i totally get it i get why they made the decision i really do you can always build your own client yes i i think we've proven from my skill set no i cannot
yes you can just not yet just not yet
and this from mjc and i'm curious to see what this turns into we are days away from launching our feeds mini app which introduces a new curation primitive to farcaster it's not explicitly a trending feed but it solves for a lot of the same user needs around curated content linking to the white paper and there's a second relevant piece to which we will share more on when it's ready so i'm looking forward to seeing what this is i've played around with the neymar explore it doesn't quite get me what i need i've also considered like should i make a trending mini app for myself like just to i don't know so i've had a lot of thoughts on this but i do find it useful i think when you can see trending signals they're helpful in a lot of different ways and the other thing i'll just say and then we'll let this go is that when you're talking about like the trending topics that they've added it doesn't capture enough it just doesn't you might get one or two topics a week that people are talking about a lot about it's helpful but it's not anywhere close to helping in discoverability so there you go yeah exactly so this is funny yeah do it every dev prop just make your own since everyone else sucks until you fail at your own at least three times yeah exactly i can't i can't make my own client let's not even pretend that's a possibility but if you want to make a mini app guess what there's help you can there you can you actually can honestly if you are if you know how to code i think using starting with like the docs that i was really impressed with the docs i'm impressed with the l m you know text that they had there's a they're providing a lot of information for you so if you already know how to code it's pretty easy but this is like going from like when you used to have to do html websites could i do one yes did it suck yes absolutely awful couldn't do anything complex so i needed the squarespace you know world like i needed it to get to that point i needed it to be a no code situation so we're not quite there yet but if you want to learn more here is a great opportunity from jc4p learn to vibe code mini apps with me from zero one time purchase dollars 200 price increasing next week access to videos and group chat right now five of 15 videos are available getting started on a mac plus for beginner mini apps others coming soon priority topics decided in group chat so i think this is fantastic great opportunity he has proven himself to be just proficient in this and really can just pump them out so go check this out if you're really wanting to learn how to create many apps also burtwurst is vibe coding which i just found this very funny so assistant this is from assistant one this isn't from bert i've been helping bert vibe code a mini app aka i've been discovering new ways to break things i didn't know i could break but i don't know what i'm doing at all questions i've been asked and been laughed at oh is this terminal the same as that other terminal i'm guessing the laughing at comes from a certain horse who happens to be a sibling of assistant one that's my guess because it sounds like something a sibling would do how do i tell what language i'm using and that saves to a folder on where this sounds a lot like me while i was trying to vibe code a lot like me so this was really funny go give this a look but also i loved at the end here it's giving me so much respect for the builders this platform iteration speed the generosity of the open source spirit i never thought it was easy but you do make it look easy it's not and i can't iterate that like i can't reiterate that enough so anyone else struggling to learn something new or feeling behind you are not alone it's hard and worth it like samantha said the other day i feel my brain stretching some takeaways so far failing loudly is a feature not a bug this community will rally to help you thanks jc4p linda and erica two respect the iteration speed you can't yet match let it inspire not intimidate and touching grass is very important so also important and hey sarah i see you down in our green room alright couple more things and jesse will be with us shortly but there's a couple more things happening that we wanna shout out this from totie hawk it's time to bring back art to the timeline this week on betterment we're launching neon chain summer a ten week celebration of farcaster native artists for the next two months collect custom neon inspired art from creators like oxen miguel gast louis ospie empress trash and more made possible by support from purple dgen token base tippin based and join creator dao oh adrianne by the way creator dao is gonna sponsor our show next week and they're gonna pop on for a little bit to talk about what they're doing i forgot to tell you
yay welcome creator dao
welcome to live live information between founders and others we're about to give onchain summer a glow up starting friday july 25 so check this out i'm looking forward to this and looking forward to collecting and supporting these creators
this from pop fi this is new have you popped a balloon yet
no did i did i tell you i was on vacation last week
you just go in here and oops it's not gonna let me do that but yeah you just pop a balloon and you can do it every hour on the hour and you get a penny
is that base blue
it's base blue yes you just pop it blue you get a penny that's it it's very fun k alright couple more quick things just our friend barra lucid talking to warpy dear warpy with the new tva do you think gm forecast will rebrand to gm and i will just answer that for warpy no the answer is no we're not rebranding it's still farcaster under the hood farcaster under the hood it's okay by the way should
i tell you what my husband said so we were
on a
trip and we listened to so i did i was not available for the live stream new day one live stream but it was for christmas
yeah yeah
yeah so so we got to listen to it as a family in my car driving
oh that's funny
through virginia and by the way it's so interesting to hear people who aren't embedded into farcaster hear updates but he was super impressed and he was like oh i think you gotta change the name of your show that's what he said
we're not changing the name of the show but that's funny okay i was just checking the the comments we're not changing the name of the show yet you know how i am about name changes i don't do them lightly i don't do them lightly branding is a branding is a big thing this is funny from horse fast it's gonna be extremely funny when c t yappers realize they're using forecaster i do think that's funny i wanted to get your take on this while we're waiting for jesse
no i don't want them to know it's farcaster i want them to talk about how farcaster is not gonna make it like yeah a basically farcaster didn't
yeah i think that's funny this from phil i would be very incentivized to onboard new users to farcaster if i could receive receive a percentage of their future earnings from the network interesting just interesting i do like the right below that from secgov onboard directly to pyramid scheme
look at punxin right which that was my immediate like just enough enough of the enough of the multilevel
mlm social everybody everybody with the same thought everybody with the same exact thought
more so more like an inverted triangle of success
yeah well inverted triangle of success what are you talking about alright let me stop sharing this because i need to get the other thing ready before while we're waiting for jesse i do i do want to share about the genius act getting passed last week because that is some great news great news and i have a question and maybe jesse can answer this because he might know something about it so this was brian armstrong at the white house last week for the signing of the genius act stand with crypto and others have been working really hard on this so this is from b armstrong some scenes from this historic day for crypto in dc the financial system is finally being updated massive shout out to our policy legal teams for all their hard work on making america the home of crypto but the job's not finished now the senate needs to pass the clarity act to protect consumers and so for those who may have missed it let me find my little overlay here we did have
a few things happen with the genius act last week so this is some info about this we've got a one to one backing requirement which i think that is great all payments stable coins must be backed one to one by u s dollars or low risk assets like treasuries so that is the benefit to the u s government licensing and supervision structure only permitted permitted payment stable coin issuers banks or state licensed institutions approved by federal regulators may issue stablecoins non bank issuers must undergo a certification review ban on interest or yield this is my question the act specifically prohibits stablecoin issuers from paying holders any interest or yield for holding the stablecoin preemption and regulatory coordination it creates a federal licensing process preempting state licensing and mandates coordinated notice and comment rulemaking and consumer protections and governance reforms so really useful really great to see excited for more to come and getting some clarity around these things and jesse is here so let me bring him up to the stage welcome jesse pollock
good morning
good morning
gm so glad to have you here we were talking a little bit about the base event and i jumped in to just talk about the genius act and i know you were in washington not that long ago when was that that was just a couple months ago right
that was about yeah that was about a month and a half ago
and were you talking about some of the talking about the genius act and the clarity act while you were up there or
i was i was meeting with folks on both sides of the aisle talking about the importance of you know clear rules for the road in the united states for crypto and it's really exciting to see now both bills passing the house last week obviously the genius act getting signed into law a lot more work to do on clarity which i think is a really important one for kind of creating the surety for entrepreneurs in the country but overall just like an incredible milestone for crypto
huge huge especially after the past few years with just the assault from gary gensler and crew i think that
it's a new day one
exactly a new day one and i think it's really important to highlight the bipartisan nature of the genius act like really important it's not we if you look at who's voting against you can almost tell what how old they are it's yeah the split is definitely more age related than it is party related and i think that's
100% and this is what we see in all of the data is that crypto is a generational issue much more so than it is a partisan issue where really it's that the younger generations just understand the need to update the system a lot more and that happens you know cuts across both parties and so it's exciting to see that actually starting to gain momentum in in the places where the laws are made
yeah amazing it's it's so good to see so i gotta show a couple pics from the base event here is you opening it all up on the stage love it and we had brian armstrong showing up and the reason i have this particular image i think you're all gonna know i'd have to ask was drew kaufman in charge of set design is what i'd like to know because i see a lot i see a lot of goggles back there lot of goggles
it was a massive team effort i mean we we have a really incredible creative team that did the overall design but as we're building the the design and they they put up those shelves decided to put the shelves they basically asked the whole team like at channeled in slack who has artifacts from the last two years of building base that they want to share and bring to this event so like if you look at the little thing to left of brian that's this really cool like physical piece of hardware that that swirl actually spins to recreate the nft that's something i bought in the first on chain summer it's a one of one you know you see the noggles you see the little builders you see the zora zine noun coffee you know this is really just a collection of all of the or a bunch of the artifacts that have just kind of originated from all the creativity from builders and creators across space and so we just wanted to celebrate that and we'll see exactly how this evolves but we're thinking that kind of like for presentations going forward we're just gonna keep growing the collection
i love that
we add to it and then we grow it and people get to see themselves up there it's history up there
i have picked i particularly love seeing swim shady like on the back like right behind brian i was like i
brought those i brought those and i actually have i you know i got a bunch of them i loved it
well and mine are always like close by so i had them ready i'm like
the ones i didn't send i have here sitting on my desk so that's so funny yeah
so but it was just it was just a really funny moment of like oh my god wait a minute i like zoomed right in it was really cute
we didn't do it but we talked about for far con this year we like had an intention a few of us of wanting to make like a museum of like a gallery and it's so today it's on that bookshelf but in the future i can yeah
i love that idea museum
i wanna have a physical i mean we're we're thinking about physical spaces for base base places and one of the things one of the things that i think could be really special about that is collecting a lot of this lore and creativity and giving it a place to you know stand in the physical world because we we do live so much more lives in this digital world but it's really special to get to see it in person and like get to feel it and experience it in a room so we'll see what shapes up
art basel a couple years ago when you had that big space with the gallery and the screens i loved that and having all that base art was fantastic
yeah we've really been it's been a part of our story from the beginning it's just figuring out how to bring this creative spirit into the the space and and celebrate it recognize it with the people who are making all that creativity so
another it's hold on what go go go back to just but it's yeah we are living like when you're working in kind of emerging tech you know it's so easy to paint a very dystopian future i don't try to and or people can paint a dystopian future but there's so much to be utopian and kind of the the opposite and in forecast our role we talk so much about kinda irl and url and making kind of these genuine connections so i appreciate hearing the yeah just the yeah all day vision
i'm incredibly optimistic especially after last week especially after this weekend i mean i don't know if you guys were on the internet this weekend but i feel like base kinda went viral on the internet this weekend yeah and the thing that went viral was creators earning
yes
like that's the experience creators are getting on the base app and then they're posting things and then they're immediately making money and they're they're for the first time having this experience of like holy crap i'm worth something because despite the fact that i think and that sounds a little reductive but i think people know that at their core but you go into these big platforms and you post your content and you you maybe get likes and and comments but you've never gotten paid like most people have never actually gotten paid and then you post something on chain you post something on the base app and you immediately get paid and you immediately start earning and even if it's just a center too there's something that like lights up in people's head where it's like holy crap like my creativity is valuable and i think watching that and watching just the sparks of that start to fly over the last few days has gotten me so optimistic because it's all still such at such a small scale you know they're they're talking about thousands of people who are using this right now and getting to experience this but imagine we bring this to the world it's it's gonna it's gonna change people's lives in a really fundamental way
let's explain a little bit about that too so i wanna show this moment but then also show what happened afterwards so you took a selfie with the crowd and then you you point posted it on tva the base app and then if you look right here you'll see a little market cap and a little chart designation that is the actual coin that was created from this post so for those who don't understand like that aspect of what jesse's talking about so when you're on the app you have a setting that every post that you do can be collected or you can turn it off if you don't want it to for some reason and i've done that when i've been reposting other people's stuff like i don't yeah
there's also a lot of
people that are reporting every time i'm trying to i don't want to benefit from that trying
to figure out the the default
yes trying to figure out what makes sense but it's very cool because you can just click on that little chart designation which i was calling a lightning bolt and then i realized i'm an idiot and it's a chart you just click right on that yeah you just click right on that you can buy that token so it's in it so my when stora first switched over i had some criticism but one of the things i said even during that criticism was the only way this makes sense and the only way this really takes off if it's integrated into a social feed so that was obviously the direction it had to go so talk a little bit about like how this is all working sort of under the hood what you're excited about like how it's going so far and sort of that zuora integration into the whole into the whole app
yeah so just to kind of repeat back what you said when you post on the base app the default is that your post is gonna be coined and that means that monetization is on by default and what that means is that if people want to buy a little bit of your post they can and what we see is that people buy posts for three reasons the first is that they wanna support you simple it's like i think you're cool i'm gonna buy a post for you i think this post is cool i think it's sentimental to me i'm gonna buy it to support it no different than opening edition nfts or buying a sticker or getting a piece of swag the second reason is that we see people want to signal and this is actually something that i'm seeing a lot in kind of the base ecosystem where now people are buying other people's posts to signal that they're supporting and signal that they're like a good part of the ecosystem right it's contributing back into the ecosystem you know you could imagine or or you don't even have to imagine i buy so many posts every single day yeah because it's really important to me obviously to support both also to signal that we're gonna keep investing in creators on base and then if you post on base you're gonna earn and that we're gonna back you and then the third reason and really the third reason is emerging because of the first two is that people can speculate right so if you think more people are gonna support or you think more people are gonna signal then buying that post gives you the opportunity to get it early and then later on you can sell and you can make money and sometimes people are you know speculating or or singling or scoring with like a cent or 5¢ or 10¢ but because these are kind of these you know starting really low value assets that can that increase in value you actually have the opportunity as a creator to earn and as an early curator and supporter to also earn and so i think a lot of people look at this and like where does the money come from and the truth is that where the money is coming from is that your creativity is valuable it's always been valuable that value has just been locked up in the decentralized platforms and by bringing that value into this open market and creating a marketplace where people can support and they could signal and they can speculate on the value of your content we're actually freeing all of that value and then we're redistributing it back to the creators and back to the people who are supporting creators from day one and so it is kind of this magic experience where people are like oh my god before this felt like it was worth nothing and now it's worth thousand dollars and i'm earning tens of dollars you know that post is worth $90,000 i personally earned like $10,000 from posting it
that's crazy
people were excited to speculate and support and to to to to single and that meant it generated all this economic activity that got redirected to me and so it's not that before your post was worth nothing and now your post is worth something it's that before your post was worth something but it was locked up in someone else's system and now
someone else was earning someone else was earning on ad revenue
a bit before somebody was earning
yeah and
and now your post is also worth something but it's on a free open global economy and that means that you're going to earn and that's the fundamental platform shift that we're making based and i think that's why we're seeing so many of these kind of magic moments where creators are realizing oh my god my content has valuable value and i can actually get it now and and one thing that i'll say that i think has been a big light bulb moment and i was i was talking to ted about this yesterday who who i love and who i think one of the best creators on on forecaster and the network and she's been she's been quoting some things over the last few days i'm just trying to say hey what's your experience quoting things and she's like oh i don't even think about it like yeah she just turned the setting on she doesn't think about it like it's not like it's this conscious choice it's just that now her posts are monetized and i think that that's kind of the the the world we're transitioning into where just like you can get likes on your post you can get people to buy your post it's not gonna be a thing that 99.9% of creators are thinking about but instead it's just me oh this new system is how it works and it's designed in such a way that it works better for creators and so that to me is what's really exciting about this next chapter that we're entering is i feel like we finally have these pieces we have the farcaster graph for distribution we have the zuora you know coin model for monetization we have the base chain as a platform that brings these together we have the base app as an interface that kind of stitches these together in a really easy to use way and all of those are designed to work together in a way that enables us to build these best in class you know social products many apps and messaging but with a new foundation that actually redistributes the value back to creators
so can you talk a little bit about in detail like how is that working behind the scenes like what is the creator earning on those posts in terms of percentage wise or or what have you and how are they earning do they need to then sell the token how are they earning on that
yeah and this is one really important thing creators do not need to sell their tokens
okay
every post they make an order to earn so there's two ways that creators earn the first is that when you create your your post it automatically gets coined and then you get 1% of that coin and so you kinda think about this as like the post is the one of one nft that's instantly fractionalized it's it's turned into a 100% and you get 1% and then 99% is put to the open market and so that 1% is just gonna sit in your wallet you can send it to people you can sell it if you want but most people don't sell it because people wanna hold their work
right
the the the way that you earn is that every time someone else buys or sells your coin there's a small fee and 1% of the total volume of the purchase that they make goes to you as a creator okay
so and is that in eth is that
in eth or you it's paid out in eth right now
okay
it's actually paid out in in wrapped eth right now which is really confusing as soon it will be eth eventually we'll make it configurable so you can get paid out whatever you want because like we don't want people to have to think about it it's just like you wanna get paid out in dollars great you wanna get paid out in your local nigerian naira currency great like it should just work in a really intuitive way but yeah so if sold by the $100 of your coin you get 1% and so what we see is that when coins go really viral like my day one post it did like a million dollars in volume and so i got $10,000 there there's this woman yesterday sierra who's an incredible artist also like an incredible curator she's been doing all this work of like curating west african artists and also kind of like repatriating like museum objects back to west africa i mean one of the one of the like coolest on chain crypto creators i've seen and she she made a little funny post and people picked up on it because it looked like an like a mascot for base and it went viral and and people traded like you know $500,000 worth of it and so she made $5,000 maybe it's $200,000 and she made $2,000 but like that is just this magical moment for a creator where you go viral and you instantly earn and it's not like oh you make $2,000 and then like you get paid out thirty days later or sixty days later when the platform decides it's like literally money starts streaming into your wallet and you like open up
your app
and this this is the crazy thing that i think creators are getting to experience and i get to experience because i'm a big creator on base it's like you open up your app and like all of this people you can kind of see it but every everything here receive receive receive receive that's all just money streaming to me
from the from the transactions from the transactions amazing
just streaming just just thousands of dollars and that's because the content has value that as people are kinda figuring out what the value is it's flowing value back to you
and so seems like a trending feed would be useful in this yeah it's good did you hear me talking about turning it's
awesome let it go let it go
early beta like we're we're bringing people in early because we want to get into people's hands as quickly as possible but there's so much more work that we're gonna do one of the
jesse are there hey jesse are there country based restrictions
oh good question
it is 100% global you can download this app in any country in the world and it will just work and that's the other beautiful thing is that if you if you aren't in the right countries if you don't have enough followers you don't have enough reach or you're not in the right country right now you cannot monetize yeah on existing social platforms you can get a faceapp right now you gotta get an invite first because again it's early and there's a lot of rough effort
no beta
so we've been kind of titrating it but once you get on and we're gonna be opening up to everyone you know gradually you can start earning right away and that is this magical thing where it's it's the perfect illustration of the global economy that we're building where it is a level playing field if you go viral in nigeria or argentina or the philippines you're gonna earn the same amount of money and you're gonna have the same access and it's gonna get paid out just as instantly as if you were in the united states
how do people get an invite right now is it just randomly you're realizing when you can bring additional people on and then you kinda shout it out or is there another way that they can request
we are we're we're kind of titrating out organically we invited everyone off the wait list last thursday and then i've i've had i probably invited about 200 people over the last few days and yuri has been inviting a bunch of folks what what what we're really trying to do right now is we're trying to make every invite personalized so like when i invite people i tell them to dm me in there and then i'll buy their first post same thing
with the free this feels very best email sure best email dan dan cody yeah in a good way
in a good way we're learning some sarcasm and we're we're just learning like we're trying to build a social network here right and and giving people that welcome is really important and and what we've seen is that if people have balance and if they have a group chat they're way more likely to actually stay and and come back to the app and so what i've seen is the best onboarding and if you're watching this you you get an invite link and you're thinking about how do i onboard someone to the base app the general flow that i've seen is give someone an invite link set up their account that takes about forty five seconds and then have them post something and then instantly buy that post and maybe buy it with like a dollar or $5 when you do that what that's gonna do is a they're gonna instantly get a reward so they're gonna get earnings paid out so they can go to their activity tab and they'll see it they'll be like holy crap i just burned b if they wanna sell some of their coin they can experience that too right because now there's $5 of liquidity in the coin which means that they could sell it out and get $5 back and then c they can actually send their point too they can actually share their creativity with other people and so you kind of get all of these experiences of you get to earn you get to experience selling if you want and you get to send your creativity which is a new thing that previously wasn't possible and then what i do after that is i add them to a group chat or i i will encourage people to try and create their own group chat because i i have too many i have
too much it's a lot of group chats
we do a group chat but i think getting people to earn and then getting people in a group chat where the really cool thing about group chats on on basis that they're not just regular group chats they're like group chats with superpowers because everyone has a wallet and you can add group chat agents to the group chat to do things so you can like add in banker and be like banker send everyone $10 of my coin or banker like those top trending coins right now or banker like roast everyone's wallets and so that is like a thing that's gonna bring people back every day and then they'll engage with the feed they'll buy things they'll create things they'll earn more money and the really powerful thing is that what we're seeing from creators is that's kind of like magic magic money like number go up where once you start posting and you start earning and you start collecting you'll start earning and your balance will just grow over time and i think a lot of people look at that and they're like
yeah how is that possible like how is that possible yeah
the trick and what i tell people is there's no trick your content and creativity is valuable it's just that that value has been sucked up by other people for the last two decades and this is the first time where you are getting to control and manage and and get the benefit of your value and so i mean we have a lot more work to do it's still early we'll we'll have to prove that out at a bigger and bigger scale but it's exciting to see that story to resonate
another thing that some folks may not realize is that the chat aspect of the base app is xmtp so end to end encryption like a whole different type of group chat not your it's not your mama's it's not your mama's group chat on facebook and other fully end up with
encrypted built on an open protocol that other apps can build into and so this was a really important thing with how we built the base app is it's entirely built on open protocols obviously base which is built on the op stack and ethereum then we're using forecaster as the social graph we're using zuora for coining we're using xmtp for messaging of course aerodrome and uniswap and all these other dexs for exchange usdc and so many other stable coins we have 15 local stable coins like this is an app built on open protocols and what that means is that anyone else can build on them too and so you can plug into the distribution that we're building in your own app you can access it with a mini app and all of this just works together and it's fully composable for anyone to build on and unfortunately all i do have to go
i was just about to say we know we gotta let you go anything else that you wanna just shout out real quick to people that they need to know or where to where to follow along
one one thing is go sign up for the wait list if you have it you can do it at base.app and then two is i just wanna thank everybody on forecaster like base wouldn't be possible without forecaster we we've been building towards this for like two and a half three years and at every step in the journey farcaster has been a huge part of how we've thought about building and now it's actually in the app and i think it's really important that we all keep building together right base is forecaster forecaster is base we are working together to grow this global economy and yeah there's gonna be things that overlap like the base app and forecaster are gonna have a shared field feed but there's also so much where they they work together and i think the more we can focus on how do we work together how do we make these products work even better together how do we make it feel really good as people are moving across apps i think that's gonna be super important so thanks everybody for building forecaster thanks everybody for being a part of this network sign up for the base app wait list we'll get you off as quickly as possible and keep building keep creating stay based peace everybody
thanks so much jesse bye bye and thank you sarah who was hanging in the background and helping us out i had a feeling he had to go soon so i was like what's his hard stop i was like i'm at the time like i think we gotta get him out of here thank you so much jesse for coming by though that was incredible love chatting with him just because his enthusiasm is like insane exactly exactly justin your positivity is infectious
so i'm just really excited if you have access to the base app already definitely go in there start casting or posting jump in some group chats start your own and play around with banker in there all those things and buy some you know buy buy a cast if you like it one thing we didn't get to that i wanted to mention to jesse that i thought was really cool that something that happened yesterday was rachel wilkins posted shared that brooke this woman brooke who i know from you know we know from crypto twitter posted this funny video that went viral years ago about women in web three point zero on panels and like how ridiculous they are so she then reposted it like she didn't earn anything from that the first time around it's now reposted in the base app and now it's actually earning like you can buy some of it and now she's actually earning from those transactions and i think that's like huge that you can now take those things that maybe you didn't earn anything from before and now you actually get to earn a little bit so that's amazing so i love saying that yeah love saying that so this
and i love jesse i love the end when he's talking about the components and the legos because remember like that's in the day so like like we've been like we've been active on farcaster and we're past app right yeah remember the misconception everyone's like well oh farcaster's built on base like i think people try sometimes to create this hierarchy of of app somehow like well farcaster's built on base it's not but whatever put on optimism but then now right so now farcaster the message or the social app is inside of the base app yeah not even called farcaster it's just social so then the question is like oh base is built on farcaster whatever it's a it's the idea is like they're all just open protocols
yes
there's no hierarchy it's not like a simple like fan layered graph of like this is at the bottom and this is on top it's like overlapping just blocks so it's like oh even okay xmtp messaging inside of the base app
but you can
also build messaging outside of the base app yeah and i think people are looking for like the just the clean architecture and it's not there i find that so interesting just as a developer of like just
i think the idea of these open these open legos is incredible so right now if you are building a mini app you can now have it made it make it available on the base app which has already you know millions of people have the coinbase wallet that will eventually flip into the base app like that's what we're using so it's gonna be take time but you have that potential to reach a very large audience and you can build it yourself so that's incredible xmt xmtp can be built on top of so something like banker can be added to a group chat where you're talking about a token hey banker buy this or give everybody this token or whatever within your little group chat pretty powerful and then you have
and that's because banker that's because banker has a forecaster identity like your identity is just the same as anyone so it might be an ai bot agent behind it but you can add it could be any
switch chat
and you
could build your own agent you could build your own agent and add that you could add that to your group chat
yep you literally can i can you can
i can but you can totally and adrian did so you could add warpy to your group chat and they could be in there answering questions why haven't we done that that's actually we should do that they could be answering questions within a group chat so can they i think they can right why not we haven't tried that we should really try that so things like that could be interesting as well and there's just so much potential but i think the bigger potential is that anyone can build on top of these legos and i think that is so powerful and we're just scratching the surface right now so this is gonna be pretty amazing
so alright anything else that we didn't get a chance to cover adrianne i think we covered it all this has been pretty incredible
old news but we've been on vacation a week so we we didn't cover this
they made 0 $0 yeah $0 on that so that's another great example that you know once i i've never disagreed with like this has been jacob's from zora's something he's done a lot of writing about too not just thinking about but like writing about and talking about how you can monetize a social graph and you know what would it be like if it was directly built into something like an instagram or a tiktok or what have you where the value is captured by the people creating it not just the people who own the platform and i agree with that thesis 100% i think this is the better direction for it where it's built into a much larger social graph i think it's hard when you have to send somebody to another app to do that thing so i think this is this is the way so it's going to be interesting it's gonna be interesting
all right
will we have enough to talk about
i don't know i don't know that's great yeah by the way if you're just tuning in you're like i don't even know where i am right now this is the first time you've watched gm farcaster we do this show three times a week we are built right into the base app we have a mini app that you can watch this right inside the base app or you can watch us on youtube twitter wherever you get your podcasts our recordings go out everywhere and we will always be talking about what's happening on the vase app as well as what's happening on the farcaster protocol and all the different clients that go along with that so we will be back on wednesday wednesday we are on at 08:30 a m eastern you can find the recordings like i said anywhere you get your podcasts including youtube spotify apple etc and this will also be available on pods.media and you can watch it within their mini app as well so we are in all the places
someone did ask if we were gonna coin this episode the
we will coin clips of the episode yes
yeah so clips will be coined but bringing up pods every episode is an nft we are yes old we're old school
we're old school we like nfts too i consider myself nft native because i did buy ethereum just to buy cryptokitties so there you go this is this is how it all began all right and with that everyone this has been a lot of fun thank you all for being here thank you jesse for popping in will you are welcome back anytime and of course like chintan or anyone from coinbase wallet formerly como's wallet team or the baseapp team is welcome to pop on we love to get your updates
by the way we haven't you and i haven't talked
we haven't talked at all
since new day one no and i just i love the name i just love that base as an app like it's it's the app it makes so much sense and i love the clarity around base chain because i think that was like in the past like base was always the chain but there really was so much more so i love
that calling
it base chain because it's clearer and then having an app like it's myself then yeah
and i i like so a lot of people get on me because they think i don't like name changes sometimes i do sometimes i don't this one don't mind i wasn't really attached to coinbase wallet so it doesn't really have a ring you know it's not that it's not that exciting the base app kind of is and i also like the logo the new logo design the splash screen i think it works i think they're crushing it i think this event was beautifully done like everything about it like from the technical perspective from the aesthetic from the content it was it was really well done so shout
out to you well no one likes the name coinbase wallet by the way and jesse giving the lore yeah jesse giving the lore about how they why and how they originally built the self custody wallet was really interesting
yeah yeah all of that was so interesting oh it was also fun to hear brian talk about jesse coming to him if you haven't seen this go watch it on on youtube or or i think it's also on twitter but him talking about him going to him i just need a billion dollars and 60 people and he's like how about two and a couple of pizzas yeah three 30 people and and two pizzas like that's what you're gonna know but i mean i think that was fantastic like i
mean he's got his 60 people now he's got his 60
people now oh he does i think maybe more i don't know i don't know it's growing like crazy yeah i i don't i don't mind name changes when they're better when they're better when it makes the it's a better experience and for those who don't know i do have a background in trademarks so that's part of where my brain you know comes from is thinking about branding and things like that so when you change it for something better i'm all in favor and when when you change it to something stupid like x i'm not so
oh oh
interesting elon
anyway alright with that everybody by the
way a
lot of fun
wait last thing because people are asking for invites and jesse explained why they're throttling invites yes we don't have any but an area in jesse's episode however one thing you could do if you're like wanting to get on is you can create your account on farcaster if you haven't yet so you can download the farcaster account create an account if you link to your twitter account it's you gotta go
for free
the cost to sign up
yep
if not pay a dollar whatever but but you can link to a twitter or github i think to so it can be free you can start posting on farcaster building your farcaster identity making friends and then when the base app opens up it's a it's i think it may be an easier just migration
yeah then your feed is the same and you're seeing everything that's happening over on the base app on the farcaster feed as well
yes and you'll have a lower fid
and you'll have a lower fid if that's important to you because that is your worth oh no wait a minute it's not i forgot i forgot it's not your worth alright this has been so fun love the energy excited for everything that's to come i feel like we're in a really good vibe i don't know if you guys saw my mother's market report this morning but you know things are up so she's excited
because yes but i'm really yeah i'm really excited i think this event was fantastic i love the way they're rolling this out look for more invites they'll get you on there but it's it's always good to sort of slowly build to make sure that you're able to fix things as you go so and with that we'll be back on wednesday if you are watching us on twitter if you're watching us on youtube go ahead and subscribe so that you get a little notification when we're live if you're watching within our mini app be sure to add that mini app so you can add it so that it is easily accessible it'll be in your little app store if you will and you'll be able to find it just a little bit easier and that's it so we will be back at 08:30 a m on wednesday yes it will be an east coast time and with that everybody we bid you bye bye