Transcript: Swap Fees Drop, Casting Changes, and Typos as Proof of Humanity: GM Farcaster ep276

i'm like are you ready yes baby

welcome back i am so excited to see you it's been over a week over a week since i've seen you so we've both been out traveling you went north i went south so i'm i'm all palm tree

there were so many fun lighthouses being shared that was a fun little moment i didn't even bother pulling those because we had too much to talk about but yeah we've had some we've had some fun so now we're back we're locking in for a little bit and then she's gonna be gone again but before that we're gonna lock in and we're gonna talk about everything we missed and you may have missed in just forty seconds so we'll see you on the other side of this

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 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 prabh and adrianne for another episode of gm farcaster

gm farcaster it is wednesday feels like monday august 13 and you are here with nynishprop and adrienne for i don't even know how long it's gonna be let's say twenty nine minutes for the fun of it of our guest or news to start your day and just getting some casts out some tweets out share if you are in the chat share now that you are watching if you're in the mini app share that let everybody know okay

oh no

yep we're gonna fix we we fix it live alright that's weird and then we're out there that is weird so if you and i'm gonna be so this week and we i didn't even pull this cast but i now have a tip in allocation from better for this next two weeks so when you're sharing that you're watching live i'm gonna be looking for those and i'm gonna be throwing some some tips on there so i also have a dgen allocation so i have lots of things to give away that i wanna give away for the next couple weeks so make sure you're sharing when you're watching live so we can catch it and say thank you

she's gonna be i'm gonna

no do it see if you can figure it out it's okay

were you able to like push

can you push out an but you push out a notification it's just not

it's just not showing it live in the app is that what's going on

okay so while she does that i'm gonna jump into all the things we need to talk about today and we got to start with this because it's just exciting and i want to start with the happiest of happy news news here is that people pleaser and crew won an emmy they so this is from people pleaser we won the freaking emmy this is the first for a crypto project i think so unbelievably exciting white rabbit which was for shibuya film which was created by i'm not even gonna say kousa cara and emily yang for shibuya film so very exciting to see this and they do some of the emmy awards early the ones that don't really get shown on air and the big the big thing so this is really exciting congratulations people pleaser and everyone who worked on this i saw miguel gores mention he had had a little part there was a lot of interactive pieces to this if you guys remember the puzzle when it launched that was really cool that you you minted like pieces you can mint i think like five pieces in a frame then you had to put it together and there was a there was an actual like seed phrase so that was our friends from the creators ryan and jordan were the ones who actually figured that out and won that so but really cool to see this happen super exciting so congratulations to them wanted to start with that some other happy news updates this is from ted and again we're back going back a week so if some of this is old news this is like five days ago so old news but some of you may not know happy update i've joined the incredible team at privy to scale operations and support our industry shaping customers over the moon to reunite with seagal henry jay hins and team to enable a new generation of global internet native financial and consumer products we're just getting started and the privy team started bidding on this like they had a little bidding war to collect the cast so that was really fun to see ted was with farcaster for about six months and decided to move on to privy very exciting for privy and ted as well and important to note because next up warp cast re rewards farcaster rewards leaderboard results so we needed to to explain why ted suddenly is back so that is why ted is back because she can be for those who may not remember ted was often at the very top of the litte board and then she went to work for merkel and she couldn't be and she was taken out so she is back this from brad q rewards leaderboard results well we've come full circle ted was number two in the first ever rewards cast i did see quoted cast and now she's back to take the number one spot as a mere mortal farcaster congrats and just a note on this it's nice to see i feel like her spark is back which is nice to see i feel like she was you know a little mute more muted when she was working for farcaster so like i feel like over the past week you saw the the real ted back on the back on the timeline so it was nice to see continuing on erica returns to the top 10 after a hiatus on her perilous trip to europe accidental boy mom nips bert first number three some familiar faces in the top 10 but always seems right to for july to find his way into the top 10 at number nine congrats to offline for 12 even though not top 10 a great week also seems like formerly too hot for the leaderboard jesse jean has a breakthrough in becoming a regular in the top 30 at 23 stephen landev stephen dylan dev at number 18 seems like their highest rank and rabinowitz at 27 maybe their highest meme coveted 69 goes to danica swanson who has started to move up a few tiers the last couple weeks keep an eye out for first timers who get excited for their first 3 or $5 rewards so very exciting nice to see ted back at the top that was a lot of fun very cool alright how are you doing

i did pull it for i did pull it for last week i don't i didn't see anything this week mentioned so i don't know if they do like a weekly like if anyone's doing any kind of weekly update but i didn't see anything i do have a bunch of stuff from the base app to be clear that's coming up very shortly so there you go let me i'm gonna just retweet one more time because we seem to be not getting a lot of traction on x right now i think we're getting throttled every time i say the word farcaster i don't know i could be paranoid but i'm thinking that we're getting throttled a little bit over there so just trying to make

so does that help is that what you're saying

maybe that's to guess that's funny that's really funny let's see if we can yeah get a few folks in here

just want to try and see if we get a few more before we jump into all the big news

and base up okay let's see if we can get any any retweets here alrighty moving on we have like there's a lot that's happened over the past few minutes i mean few weeks this week so we've got a lot of things to talk about i had to really like

consolidate today really curate yeah very much curating here today okay

yeah

so oh good okay

it's not doing that

it's been weird it sometimes does and sometimes doesn't and i don't know why i have yet to figure that out it is weird yeah really weird and you're right it didn't it even usually does that for me when i log in it'll say join now and it's not saying that anymore so i don't know but anyway we're gonna just move on we're gonna

oh i just saw $47.10 on my this is when we need my mother joining in with her market reports i don't know if you saw that that was so funny by the way that my i didn't i didn't pull that cast but my mom sending me a message when it went to 4,300 it said it's almost at 4,300 why not bitcoin and she like why are you not paying like she get why isn't sailing going up i'm like yeah easy sailor easy there sailor yeah oh thank you that's right you

yeah yeah

yeah yeah it's yes we were both at the beach this past week alright moving on we've got a lot of things that have happened on farcaster this past week including a new casting

flow i guess is the way to put it which so anyway i started casting this is from say angel didn't realize how attached i had become to the cast countdown screen that let me proofread my thoughts a latest fc update fired the cast immediately and i had a mini heart attack so i don't know if i missed it like i knew i knew that they were working on the new flow they've mentioned that a couple times but i never saw an announcement of like the new flow is now here i just all of a sudden had it and i still i double checked this morning i'm like i don't see anything about this so yeah there is a new flow the preview is now gone and this from dan deeplore when the entire og user base revolted after we launched the cast preview screen i can't remember like if i was upset or not upset

i

think i was too yeah it didn't bother me i kinda and and now i'm i'm getting used to it but i had a typo in something and i was like damn i woulda caught that i woulda caught that in the in the in the preview so i was kinda kinda bummed about that

i'm not surprised

okay i'd rather just be able to edit my typos out so 10 points off for typos is what i'm saying it's the professor in me i don't like a typo but to your point on the ai part of it yes this is another way to like distinguish who is ai and who's not so i guess that's a good thing see a typo it's probably a human so there you go so yeah so things continuously change and i think they're still talking about edit as a possibility but i don't think it's a high priority right now but we'll see

yeah i think so i think that's where it lies come on

there we go this is the big news we now have pro trading and this was something i was testing i was in that that test group to test the pro trading but we couldn't share it so i finally can so swap fees are now at point one five on ethereum chains and zero on solana we were able to lower fees by another 40% and we're passing the savings along to you this is an update to the original cast and then pro trading is out to all users so this type of thing is out to all users restart to get the latest fees are even lower for pro users we now charge zero solana and point one five on eth change chains if you do a swap for at least a $100 this week you get a bonus on the weekly rewards i started doing that too early because i they said something about it and i did it too too soon and it didn't anyway it didn't

it didn't count and i'm like oh i gotta do i gotta redo that this new pro trade this is the full cast from v a new pro trading farcaster pro gives you the best prices on every trade no hidden fees or gimmicks popular wallets charge you 1% or more on trades what's worse fees are hidden so you don't realize how much you're losing on every trade our new trading experiences promises that we will find the best place to execute your trade tell you what we're what we're charging you charge the lowest fees of any wallet if you have farcaster pro if you trade on chain you'll earn more with farcaster pro okay we also made a lot of improvements for all users your far your favorite tokens on base and solana show up immediately our buy page makes it easier to select tokens you care about our trades now execute faster making sure you don't miss a run up one thing i didn't ask and i meant to ask and i don't know if you know is i'm not sure what's powering the background like i don't know if it's zero x i'm not sure how they're finding the best pricing and it might be custom built by sloake it's very possible sloake has done most of the wallet tooling so most of the i think a lot of the upgrade is coming from sloake or kartik depending on how you prefer and so i i'm not sure what's it's

yeah because i'm like oh this is i i i want i'm dying to know like what what's going on over dinner with at linda's house like how does how does will feel about this because it's really interesting i think we're getting an interesting competitive environment right now that i didn't quite expect

where farcaster really decided there to lean into the wallet side of it where i think that was more of an afterthought for a long time you know it was it was the thing to you know now it's becoming the primary yeah and so watching that and the little bit of you know things with base they did pull out the external coinbase wallet that was because it wasn't working properly and they couldn't get it fixed i didn't even pull that cast but we'll let you know that part so it wasn't like a that wasn't like a you know spike kind of thing it was more of a like this isn't working right now and we'll try and get it back in once it once it is and i think it's the changes that they're making on their end something broke

yeah they're not casting at each other it's not that level they're still friends it's still a cooperative environment but it's diff it's definitely heating up a little bit it's really interesting to see because they're now sort of crossing over into each other's territory and you know with base bringing in social and really leaning into zuora and those and that approach and then farcaster leaning into wallet so it's interesting to see and then you have other other cooperative companies who are now competitive you know like rainbow where rainbow was sort of the go to wallet for a lot of farcaster

you know now that's not as is gonna be it's not gonna be the case as much and then you also have things like matcha in terms of swaps and seeing that kind of come out so it's interesting i don't know how this all you know plays out in the end but it's interesting to see this sort of competitive environment and here's the thing it's better hopefully for the users get it you know the competition leads to better experiences better prices all those things so yeah

that's good to know try to swap with l one be sure you have token for gas okay they were talking about up there there you go and then zuora has yeah zuora rise definitely has an impact on base so there's a lot of things happening that are really interesting right now so yeah it's gonna be a fun fun rest of the year see how this all plays out

i haven't yet i i downloaded the test flight i didn't i haven't gotten a chance to dive in there but that's the other one that's coming degen i think is still making a client so i don't know what that looks like especially with this information if i was heosic i don't know i don't know what how i'd feel about this like this is i don't know if that's you know i don't know what their plan is exactly so hopefully we can get him on here fairly soon i think you know once that's ready to be discussed so it's really interesting to see all of this all this happen oh interesting i haven't used matcha once i don't know much about it it's a really good swap site so matcha is a great swap it does find you usually the best route for liquidity purposes but it'll it'll be interesting to see if anyone compares matcha and the farcaster wallet see if what you where you get the best fees that feels like a job for yes to crypto

just saying feels like something he could he could probably very quickly assess so if you have done any comparison we'd love to know alright moving on this wait oh maybe not moving on this is gonna be one of these days isn't it isn't it come on you can love for me we've got still a bunch of things to to dive into including

some big discussions of our own l ones but we'll get to that in a sec and come on will you just load for me please i really hate when the sevens

come on come on you can do it in the meantime could somebody go do some test swaps let me know how it goes okay here's some more things working on the token page to making the token page better on mobile what are your top requests so if you have requests regarding the token page itself when you click on the token shoot them here to v they do take your feedback seriously so definitely jump in there and let them know what you're looking for especially the traders they really want to hear from those who do a lot of trading what do you want to see in the token page why is this still not coming here it is okay lightning fast swaps so this was the other part of this we made our swaps a lot faster they now take two to three seconds on average this one took barely a second small step towards making this the best wallet to trade with so that was the other improvement they made and it's it seemed it does seem pretty fast so impressive work by mostly sloke moving on over on over in the over in the base universe

mean i know i don't have i don't think i have one cast from him he's all in the background just hiding in the background doing the work i i have to keep shouting him out because he's pretty impressive this from coinbase millions of assets one coinbase app well technically two but okay every asset on base faster and easier access to on chain trading tokens go from launch to available on coinbase in moments all available in the same coinbase app with dex trading rolling out now starting in the us except new york so you can't you won't see it so this is the power of the dex on coinbase meaning the tokens that used to you know tokens that launch on base that normally it would be a whole process to get them listed on coinbase it's now going to happen automatically if you launch on base so it's a couple things it's good for discovery but also be careful out there because some you know in the past it's been seen as sort of a a blessing this is fine a blessing that's the word i was looking for and that's not gonna be the case anymore so be careful out there is what i would say to this because it will be you just never know so be careful out there people

you know

and then speaking of bass happy birthday bass that was last week well three days ago two years in still day one love this little animation thought it was very cute two years of bass and we we've been here for the whole two years so it's very exciting this from jesse i'm excited about coinbasefarcaster e its a dex launch because it puts base builders on a level playing field base is for everyone but because of the antiquated listing process that didn't always feel true now it is and it's up to builders to earn the attention with hard work onwards so we'll see how this goes i think we just have to kind of wait and see this from chintan what we shipped in the last two weeks on base top focus has been on performance polish and bugs big improvements to videos vertical videos feel better all videos have time stamps overlays auto resume when you swipe back and have overall smoother playback tighter convos inline replies keep you in the feed and mentions now have better support for long usernames cleaner coin creation ticker spacings are fixed and emojis are now supported that's kind of big better mini apps open one mini app from another enjoy fast contacts data less than fifty seconds full safe area handling on every device and this and this is big basepay is built in now so that's pretty cool fit and finish on payments tapping your balance now autofills max error messages are cleaner and you can toggle off incoming requests faster and better everything faster feed loads better android stability that's always been an issue easier onboarding and lots of keyboard fixes for replies what's next in line comment replies pinch to zoom photos that's been something that i've found a little annoying one gigabytes plus uploads and invite codes so that's very cool very exciting so soon you'll be able to invite directly to the base app and loving all these things i noticed that the zoom because i went to zoom in on something because i'm old sometimes we have to zoom i was re it was like a chart or a graphic or something and i was zooming in and it only zooms in the middle so you can't like move it over like you can't zoom on the left side or the right side and i was like i can't see what this says it's a problem so i had to go over and look at it in farcaster so i could actually do that so there you go

still doesn't have it as of what doesn't it have

no one on your team over 40 oh

that's funny

that's oh you don't have the base decks trading okay i was trying to figure out what you're saying yeah they said that they're starting to roll it out so i don't know what

proof of typo i'm human that's funny so yeah i'm not sure how they're rolling that out because a lot of people still don't have it and so just but just it should be rolling out shortly which is pretty cool so another way for people to discover i've been sitting i've been like working i was talking with the base team i'm trying to get access to the beta for my students because i do usually have them do coinbase wallet i've had this other thought though i'm like i could have them do farcaster now because of the wallet but i still feel like the coinbase wallet aka the base app is a better approach for them because it's going to have that coinbase integration whereas they may not know where to go if they want to offer appen so i'm back and forth on that but i have to figure that out in the next week because it's school time all right now that we've just said that you know okay we've talked about how the dex is now going to be available on coinbase and here's some of the concerns so this is actually solana issue but same dyr don't buy suspicious tokens that you'll get rugged everyone on farcaster buy the pop buy the balloon pop okay so you may have missed this adrian i don't know if you saw what happened but yeah when you see balloons look around for clowns so popfi

the balloon pop mini app launched a token called dollar sign pop on solana on pumped up phone and it rugged so primarily it was folks on farcaster who were claiming it and they were also doing an airdrop where you had to it was old school airdrop you know recast tag two friends that kind of thing which immediately i went i'm not doing that so i missed you know i i didn't end up getting involved with this particular token but there were a lot of people who just you know didn't think twice about it and i really didn't think about it in terms of it being you know something that was gonna get rugged didn't cross my mind at all because i was like why would you put this much effort into creating a mini app and building up like just it felt like a lot of work to just then rub rug a a pump dot fund token

like it just seemed like like that's crazy and i'm sure a lot of other people had that same thinking of like why would you go through all this just to go and rug this thing but that's exactly what happened and i think i am underestimating

how much effort that really was so this was my cast this one baffles me a bit need to fully do the math but it seems like a small take after building a mini app money oh they spent money on qr to advertise on qr they won an auction and it was significant like $1,600 or something wasn't nothing they paid on amps influence a whole bunch of different things plus paying people to pop balloons most of the time you're paying a penny out to somebody but there were like larger rewards and things like that and then griffin did a whole write up on paragraph about this so this gives a really good summary of what happened and his take is that it's not they didn't spend as much as you think but if you want to get caught up on everything that happened this is a good write up and summary of all of that

here's what i thought was really interesting this was from nikki sapp i hate to say it but the solana trenches are rinsed the pop wallet that fish that fished 22 ks was slowly selling over the past twenty four hours after receiving multitudinous inbound transfers of the token from a number of accounts all in denominations equivalent to roughly $950 this is a typical strategy to obfuscate the source of funds slurf tool has easy to use and cheap functions for this the wallet never made a purchase of the actual token and only received the tokens for free it got impatient and dumped everything it held over the course and it was more than 35% of the total supply of the token so that was really interesting and then this was his other take from nicky sapp this is a great question how do i feel after spending my time in energy and solana so there was a question in that same thread from somebody asking that like how do you feel about it after you've spent so much time and energy how do you feel about seeing these kind of rugs so most of you know i've been a staunch advocate for solana especially here in barcaster the solano labs teams team and ecosystem players such as tapestry meteora and healius have been incredibly supportive we received developer funding from meteora shipped launcher infra across farcaster twitter and our web dapp and made what i consider to be meaningful revenue outside of circus i've worked on some great projects as a silent dev which has been challenging rewarding and a chance to grow beyond my evm roots to be clear my opinion on the culture solana is not an indictment of their ecosystem however there is a cultural issue driven mainly by hyper speculative ephemerality very well written by the way take note that most major products on solana have never released a token or did so deep into their product cycle magic eden pumpfund tensor vector helios meteora some of whom have delayed their airdrops or token sales for extended periods some indefinitely on the other hand projects that launch immediately often get stuck forced to appease holders and investors while their charts bleed out see believe clout let's bonk that pressure leads to fake volume coordinated pumps whatever it takes to survive and now evm native projects like pangu and dudes are launching on solana simply because it's easier to extract liquidity there enough said if you want to build something real on solana the playbook is raise from alliance dao or a major vc find pmf then drop a token when revenue starts to dry up extract repeat so yeah i'm disillusioned i've never been a chain maxi even having been in crypto since bitcoin in 2013 i update my thesis constantly and this cycle taught me a lot if you're if i were only chasing profit i'd say it's been a win but i want more than that i don't regret my time in solana but i'm starting to realize it may not be the right place for builders like me so that was a lot we've had nikki on when he launched circus and chatted about the solana ecosystem and i will say that they have been very they have been supportive of builders like him and like others in terms of solana foundation and other avenues but pump fun has been the thing that's driven a lot of the attention and a lot of the profit too to for a lot of people so i think that approach has really taken over a lot of this so

thoughts

thoughts from a person who never popped a balloon

today nothing on this one well there's a few more it's just like

was

and i

culture and culture evolves everything culture evolves too so it's not you know what might have worked for you for a while things change you know what might have the environment pre pump fun you know might be very different post pump fun so it's yeah it's tough this was related

to the balloon popping incident and this is from patricia x lee please forgive my uninformed non crypto person questions but now i'm very curious one if we can grant wallet access to many apps easily in farcaster why can't we revoke them just as easily two why isn't there some kind of verified badge yet in the mini app ecosystem to mark developers who've gone through a vetting process so interesting okay this was forcefax's answer we'll answer your specific questions first then share some safety these are gonna be long so i'll reply separately for each wallet access if we can grant wallet access to many apps easily why can't we revoke them wallet access is an overloaded term if you're using a mini app what it can actually do with your wallet read token balances and make requests to do things so how can it you tell if a request is legit the first screenshot here is tortoise and he goes on to like show how you can tell whether it's legit or not i'm not going to go through the whole thing and then the other thing is request token approvals this is a really special case of number two but since it's so common and can be more dangerous it deserves its own category one kind of request a mini app can make is asking you to give it an approval to spend some amount of a token this can be limited or unlimited amount this pattern is deeply baked into crypto and very much an original sin of crypto ux the third screenshot here is a crowdfund asking me to approve spending 5 usdc as a donation if you see an app asks for an unlimited approval here that's usually a big red flag of all the things a mini app can do you should be most careful about approving requests for token approvals it's the only thing that allows an app to do something with the money in your wallet when you're not physically there but there are many legitimate use cases for approvals for example approvals are what enable tippin and noyce to send tips on your behalf there's nothing to disconnect or revoke for one and two for three you can check and revoke approvals with other mini apps and then share below so just to kind of you know put a pin on that of you know stay safe out there but token approvals are the big thing and we've seen that there was another mini app and i can't recall which one it was right off the top of my head i'm pretty sure toady got rugged or exploited on something and i can't remember what it was but it would it involved doing an unlimited approval and i can't remember which one it was but something got exploited was it qr no was it what the heck was

was it qr was it the qr then maybe it was qr

it wasn't it was like oh it was like two weeks ago or something i don't remember it was recent it was really recent and i'm it's it's if anyone remembers let me know but there was something where if you gave the unlimited approval it was able to grab your usdc i think for some reason usdc i think it was usdc yeah it was qr notice that's what it was it was the qr notification somebody hacked in to the qr notifications and if you had had but everybody got reimbursed that's right everyone got reimbursed but it was the qr notice there was a something that came through that got hacked and if you had it really came down to approvals as to how much they were they were able to snag there so just be careful out there especially around approvals of mini apps and also i'm going to be a little more cautious now on you know what what i'm doing with mini apps and just be a little more aware because i i've been probably a little lazy about it as well and also seeing assuming social signals as

as help you know what i mean as as helpful so for example somebody winning a qr auction and qr promoting it was sort of and that's what happened with the pop fi thing feeling like a social signal when it's really not right anyone it's permissionless anyone can win the auction right and they're going to promote whoever wins the auction so they're not necessarily doing any vetting and i think that's the issue here is that you know we're assuming vetting that doesn't exist and that's probably not

didn't even think of that

i didn't even think of that you're probably right and i probably did and didn't even realize it so yeah there is that too of making sure you know kinda checking i was i was pretty vigilant about that early on i haven't been as vigilant in the past month or so but i was very early on i was checking every cast that i was recasting in amps and just making sure and now i've been a little less yeah a little less on top of that so that's a great point so also yeah if you're getting recasted if you're recasting on amps and someone's paying you or influences the other one just double check what you're what you're being requested to do within this same

thread here from horse facts is the frame to revoke approvals so if you need to revoke approval use the small frame and there's a link in here a frame sorry mini app that's funny

small just another way to say small

like huddl

oh cool

i think the morpho one is the staking one right yes

awesome yeah so you just go if you click on that frame that frame has a number of sorry mini app where why am i saying frame i owe linda so much money today

if you you can click on the stay safe safe revoke and that will help you revoke but also there's a disperse here and one safe all chains so there you go there's a few different things there that you can check out

there yet linda we're not quite there yet we'll get there okay oop as soon as i think it's not loading it loads okay

yeah i think the paranoia is great you you should definitely be paranoid trust no one

yes i do as well

i trust his apps as well yeah that dry wit runs strong in the in the family his nephew bert wurst also quite funny quite quite the dry wit as well a little bit of sarcasm there okay moving on totally new topic this is from garrett stripe is launching an l one with paradigm called tempo circle is launching an l one with formal systems called arc feels like we're back in the enterprise blockchain era

so this has been a big discussion on farcaster in the past couple of days and this is from alana levin it's 2030 and alana is from variant vce the vc who funds quite a bit of blockchain things it's 02/1930 you're a merchant receiving payment from a customer they pay with the usdc on circlechain but your payment terminal only receives stripe usd on stripechain but once you get stripe usd you want to transfer it to your account with a bank of america so you need to transfer it to b of a usd on b of a chain but wait you go and pay your supplier the problem is they custody with jpmorgan then you need to get your b of a usd on b of a chain to jpmorgan usd on jpmorgan chain but jp morgan chain is permission so now you need to root it through a special intermediary and so on is this the future we're heading towards yeah so here was the bigger discussion there was a couple discussions going on there's that like everyone's gonna have their own chain what a pain in the butt feel that and then there's also the discussion of the l1 versus l2 like why aren't they just building an l2 on ethereum wouldn't that be easier 100% and i think we all know the reason they're building their own l one everybody it's called money follow the money it's profit motive it's my guess and i could be wrong is that the vcs behind here see that as the way to earn back their investment and probably 10 to 100 exit so if you are you know wanting to and then and the other reason could be straight up wanting to make sure you can build what you want to build when you want to build it and having control over the security of the chain i can understand that especially if you're coming from outside of the crypto world so if you're not as dialed in and understand how ethereum works and how you know what i mean everything works you're gonna feel more comfortable as a large corporate entity saying we want to build this ourselves we want to make sure that we are in control of this thing what you know this chain the other part of this and this is the part that i think i disagree a little bit with alana that i don't exactly think it's going in this direction is that you've got privy under the hood so is there something happening behind the scenes that's doing that swap and making it effortless to to make sure that you can cross these different chains and i don't think it's there yet but i'm assuming that by 2030 it would be so

and yes to crypto having usdc for gas will unlock a lot i suspect yes but do you need usdc and all the different chains that is gonna be the question so is it going to be interoperable or are you going to need the usdc for that particular chain and that's what i think is a little concerning but also unsurprising i think it's unsurprising that this would be the direction they were and especially from less so from stripe i think stripe probably could make an l2 decision but more so from the banks who are gonna want control over everything and they're already can see the writing on the wall that this is the direction that is going to be more consumer friendly in terms of saving on fees which means they're going to lose fees which means now they want to try and figure out how they're capturing those fees back and here we are and that's yeah that's my guess yeah i'm

don't know it's it's a it's a blockchain that only works for your com your company

it's not necessarily it's not decentralized yeah it's just not decentralized

yeah and it's yeah this is a whole bunch of craziness that looking at our technology at this moment and the way things work i agree this is insane but i just don't think that's where it's gonna end up

yeah but and also thinking about it from the consumer perspective too is that a lot of this will just be hidden just the way the same way it is with credit card fees like you're not you don't realize that you're paying and i'm not mean from the consumer side but when you're actually paying with a credit card the company has already raised the price up of whatever it is you're buying to cover the fees that they have to pay to the credit card company so that's what i mean by it's already hidden so it'll be the same kind of thing so yeah i don't that's what it looks like to me is that you will need 10 variations of usdc per chain as a starter but we'll see like can they make it interoperable so that we don't see that behind the scenes and yeah you've got the 3.25 credit card fees instant transfer transfer option so you're yeah exactly exactly so they they have to do this they it's unsurprising to me but also doesn't it make you want to punch jamie dimon in the face just because he's been so anti crypto and watching jpmorgan and all the big banks doing this like annoys the crap out of me because they they fought it so hard realized they can no longer win and now it's like okay now we're gonna come in and just grab it all up and it just like just wanna punch you in the face anyway there was a i'm what was it east denver no consensus last year i think it was it was something where they had like these jamie dimon like somebody was walking around as jamie dimon and it was really funny anyway so it's interesting i think the next five years are gonna be fascinating in crypto for sure

and we have this related from dan something i've changed my mind over the last few years make crypto invisible in the product when starting work on farcaster in 2020 the goal was to build a decentralized social networking protocol minimally on top of ethereum we shipped an embedded wallet from the first desktop version of the client we've experimented with abstractions like in app payments and warps and off chain in app currency ultimately the market is bifurcated you either like crypto or you don't and if you don't you're not going to use something built on crypto when there's a when there are decentralized alternatives that don't use it that's blue sky etcetera so the new approach is crypto everywhere but just make it easy to use and then balaji had this thought i agree with this as crypto is a community that grows by millions every year so what we build for the base today is used by normies tomorrow thus we can be all in on crypto in a user friendly way of course in a high trust way too but also in a straightforward way because the world is going on chain so it depends on if you believe in that premise if you do then it is just making it easier for folks to be able to use all the apps that we're building oh back to one other note for those who may have forgotten that stripe bought privy so there you go acquired privy so there's we know that that's going to be part of their strategy for sure all right couple more things almost done this from bobby ong who is okay now i've forgotten who he is but he's somebody important totally forgotten who he is well i'm a

oh yeah i'll go check you out in a second i find the wallet integration of farcaster very well done this is what it should look like on all social media apps in the future hard to unsee the future once i see it here on farcaster even telegram could have done a better job of making its wallet more prominent instead of hiding it in the settings i didn't know telegram had a wallet so they're hiding it very well cofounder and coo of coingecko and gecko terminal yes i had to go double check

totally is today

amazing amazing amazing i was like i know i'm going to be a little but i could not remember could not remember who he was i'm like he's somebody he's somebody important people are excited he's here i don't remember who he is so that i thought was great to see because this is somebody who's been in crypto for a long time that they do like the way that the wallet is working within forecaster

appreciate it

yeah

totally it's like when somebody sees your kid and they're like oh my god he grew three feet yeah i'm like did he i don't know he did yeah yeah he did it's the same thing yeah it's the the child's growing up in farcaster i think yes cool are you getting one that you your pfp will look so good trippy trippy version i'm excited for that

in the base app no you'll still see it it just won't move it'll move if you click on it yeah just click right on it funny funny alright couple more things for our friends here today happening in new york is ethereum new york this week world of app events are happening and linda is going to be demoing farcaster on at an event on august 14 and so go check that out i don't think she put the details i think it was in a different cast so there's going to be world of app happening world of apps happening in new york during ethereum nyc this is also sponsored by octant and nouns so this is part of there's also a house of nouns happening with a whole bunch of activities so if you are in new york go check this out this should be fun this week

oh very cool very cool

chaskin will also be there i believe chaskin from the ethereum foundation is doing some stuff at house unown so there's a lot of things happening this week

it's a lot

it's yeah i get it it's a lot this from what's the wildest sponsorship or stunt we could pull off together that would put dgen in front of millions drop your ideas so if you have any ideas drop them here guinness world record was mentioned mr beast type things lots of lots of formula one of course everyone likes a formula one idea so go check that out if you have any ideas for jacek he's looking for them and this from adrian oops maybe maybe maybe it's coming

like i can't even remember what it was i want to produce a show that's like the old newlywed game but for co founders building a forecaster we would have a few few sets of co founders on stage the couples and we'd ask questions to one that we had previously asked the other and see how well their answers match whichever couple gets the most matches wins prizes could be put up by companies in the forecaster stack like free three month subscription to privy or naynar or x dollars worth of amps credit is there interest in this which couples i mean co founders should we invite first so if you have ideas for the couples i think that would be fun by the way yes jr jrf this is something i've been thinking about for quite a while of trying to do different game shows and we're working on it so naynar is in that'd be cool obviously everybody wants dwr and v and

it that would be fun oh erica and christopher would be great great suggestion reality crafter and willy wonka are up for it so i think we've got we've got interest yeah the interest is there

los fomo's and make it spicy yeah

oh that'd be fun

i was thinking about yeah

yeah we need all that

working on that working on that oh yeah compre and nifty that's the tippin' tippin' crew

and the los fomo's yes for sure we saw them in the in the chat that would be fun

yeah oh it has to be live yeah it has to be live for sure

oh that would be fine that would be fun we could do a virtual meeting i don't think that's gonna happen but but miga i will say this we are gonna have dish on in a couple weeks he is coming on august 25 i think it is yeah the twenty fifth disch will be here chatting about all things clanker and what's happening there's some new things coming so we'll be chatting with with them but not yeah i think we will have to sub in moonpappy there you go although this would definitely bring the ratings this should proxy would definitely be interesting

i'm just saying i'm just saying without chasing it the ratings would come that's the thing

not to dish no i love dish too much and he's too sweet i would never never in a millionaires never never would do that to him surprise that's like a this is your life kinda remember this is your life where they bring out these people from your past or whatever that would be kinda funny but no we would never do that to dish we would do that to proxy other way around i'm open to but i would never i would never sabotage dish alright anything else adrian it's been a long one

your on chain life there you go exactly

exactly that would be torturous i think that's a really bad idea somebody posted there's some app now that will like tell you your on chain net somebody like tagged me and shared my on chain net worth or something which wasn't correct but that's okay but it was interesting and i'm like wow that is feels invasive hey it's all on chain what are you gonna do yes the gas she spent in today's dollars there was a site fees fees.wtf i think is what it's called i don't know if it's still out there but i think it is fees.wtf

yeah yeah

torturous back in the day now now not as big of a problem but yeah and now there was an airdrop for that was that sos or no i think it was gas i think it was called gas dollars and gas something like that but sos might have been based on that too there was a couple back in 2022 ish time frame that gave you based on your crazy crazy fees you paid all right yeah exactly all of us many such cases the gas spent in the 2021 all right anything else adrienne what else did we forget i think that was everything there was a lot that happened in this past week so excited to see how it all plays out with the new wallet features and then everything that's going on with base

we'll be back friday and we have no no trivia this week no poker it's all very quiet quiet little week before we jump back in i start classes next week so just teaching the one class gotta get my student so you'll see my students on my students will be onboarding to farcaster in some way this this year so

yeah it's a little different i'm a little nervous but one way or the other either through the base app or i may just put them directly on if i can't quite get the beta access so mhmm we'll see yeah it's gonna be interesting alright

and if you are wanting to go to basecamp there's a separate application for that so i did apply for that and i do need to put the trivia app in for the app awards so yeah we'll see we'll see if if i end up going waiting to find out if i was accepted but here we go to stow yeah it'll be fun all right everybody that's it for us we will be back friday at 08:30 a m no guests this week we are taking it easy there's lots to talk about so we don't really even need a guest this week and we will see you all on the timeline so until then bye bye everybody