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

i'm like are we ready yep yes baby now we're live welcome i am so excited to see you it's been over a week over

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 treed

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 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 nounish prof and adrienne for another episode of gm farcaster

gm farcaster it is wednesday feels like monday august 13 and you are here with nounish prof 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 farcaster 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

i don't know why why why

yep we're gonna fix we we fix it live alright

and 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 degen 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

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

were you able to like

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

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

okay so while she does that i'm gonna jump into all the things we need to talk about today and we gotta start with this because it's just exciting and i wanna start with the happiest of happy news news here is that pplpleasr 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 was for shibuya film which was created by i'm not even gonna say kussekara and emily yang for shibuyafilm 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 pplpleaser and everyone who worked on this i saw miguel guerresse 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 like 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 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 sial henry jayhins 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 warpcast 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 leaderboard and then she went to work for merkel and she couldn't be and she was taken out so she is back this from bradq 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 for 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 steven landev steven dillon dev at number 18 seems like their highest rank and rubenowitz 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

different 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 sure

so does that help is that what you're saying

a 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 app 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 me too yeah very much curating here today

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 move on

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 like she get isn't bitcoin

going up i'm like yeah easy sailor easy there sailor yeah oh thank you that's right

yeah

yeah good 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 deep lore 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

yeah it didn't bother me i kinda i and now i'm i'm getting used to it but i had a typo in something and i was like damn i would've caught that i would've caught that in the in the in the preview

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 each 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 count i'm like oh i gotta do i gotta redo that this new pro trade this is the full cast from v 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 sloke it's very possible sloke has done most of the wallet tooling so most of the i think a lot of the upgrade is coming from sloke or kartik depending on how you prefer and so i i'm not sure

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 we all 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 a 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 well i'm a let you know that part so it wasn't like a that wasn't like a you know spike kinda 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 zora 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 it's 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 yes okay oh they were talking about up there there you go and then zora has yeah zora 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 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 jacek 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's 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 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 about 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 this happens

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 wanna hear from those who do a lot of trading what do you wanna 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 fast 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 seem it does seem pretty fast so impressive work by mostly sloke moving on over on over in the over in the base universe

i 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 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 know you just never know so be careful out there people

you know

and then speaking of base happy birthday base 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 base and we we've been here for the whole two years so it's very exciting this from jesse i'm excited about coinbase farcaster it's 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 kinda 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 kinda 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 base pay 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 inline comment replies pinch to zoom photos that's been something that i found a little annoying one gb 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

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 up for 40 oh

that's funny know oh that's oh you don't have the base dex 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 work 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 could i 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 gonna have that coinbase integration whereas they may not know where to go if they wanna off ramp so i'm back and forth on that but i have to figure that out in the next week because it's school time alright now that we've just said that you know okay we've talked about how the dex is now gonna 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 you'll get rugged everyone on farcaster buy the pop buy the balloon pop okay so you may have missed this adrienne 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 pump.fund 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 re 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 mhmm like it just seemed like like that's 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 bops 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 gryphon 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 wanna 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 nickysap i hate to say it but the solana trenches are rinsed the pop wallet that that fished 22 k 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 tools 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 nickysap this is a great question how do i feel after spending my time and energy on 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 farcaster the solana labs teams team and ecosystem players such as tapestry meteoria and helios have been incredibly supportive we received developer funding from meteora shipped launcher infra across farcaster twitter and our web app 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 of solana is not an indictment of their ecosystem however there is a cultural issue driven mainly by hyper speculative ephemerality

take note that most major products on solana have never released a token or did so deep into their product cycle magic eden pumpfun 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 alliancedow 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 nicky 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 yeah 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

okay

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

and culture evolves

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 incidents and this is from patriciaxlee please forgive my uninformed non crypto person questions but now i'm very curious one if we can grant wallet access to mini 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 horsefacts' answer we'll answer your specific questions first then share some on safety these are gonna be long so i'll reply separately for each wallet access if we can grant wallet access to mini 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 it and he goes on to like show how you can tell whether it's legit or not i'm not gonna 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 crowd fund asking me to approve spending 5 usdc as a donation you see an app ask 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 tip in and noise 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 tony 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 it yes was it qr was it the qr name maybe it was qr

it wasn't it was like oh it was like two weeks ago or something

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 mhmm yeah it was qr notice that's what it was it was the qr note notifications 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 and it really came down to approvals as to how much mhmm they were they were able to snag there so just be careful out there especially around approvals of mini apps and also i'm gonna 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 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 sorta and that's what happened with the popfi thing stealing like a social signal when it's really not right anyone it's permissionless anyone can win the auction right and they're gonna 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

you know i didn't even think of that

had i to 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 mhmm i haven't been as vigilant in the past month or so but i was early on i was checking every cast that i was recasting in amps mhmm 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 influence is the other one just double check what you're what you're being requested to do

within this same

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

small just another way to say small

like hoddle

oh

i think the morpho one is the staking one right

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 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

that's funny

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 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 burtworst 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 alanadlevin it's twenty thirty and this alanad is from variant v the vc who funds quite a bit of blockchain things it's twenty thirty you're a merchant receiving payment from a customer they pay with the usdc on circle chain but your payment terminal only receives stripe usd on stripe chain but once you get stripe usd you wanna 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 jpmorgan 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 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 l one versus l two like why aren't they just building an l two 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 vc is behind here see that as the way to earn back their investment and probably 10 to a 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 wanna build when you wanna 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 wanna build this ourselves we wanna 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 alanad that i don't exactly think it's going in this direction is that you've got proofie 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 in 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 l two 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 gonna lose fees which means now they wanna 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

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

it's not necessarily 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 don't mean from the consumer side but when you're actually paying with a credit card the company's 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 options to your yeah exactly exactly so they they have to do this they it's unsurprising to me but also doesn't it make you wanna 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 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 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 balajis 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 gonna be part of their strategy for sure alright couple more things almost done this from bobbyong who is okay no i've forgotten who he is but he's somebody important totally forgotten who he is

varun i'll go check you out in a second i find the wallet integration on 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 was i wouldn't thank you this morning

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 farcaster

yeah but totally it's like when somebody sees your kid and they're like oh my god he grew three feet i'm like did he i don't know he did 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 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 gonna be world 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 announce so there's a lot of things happening this week

it's yeah i get it it's a lot this from jacek what's the wildest sponsorship or stunt we could pull off together that would put degen in front of millions drop your ideas so if you have any ideas drop them here guinness world record was mentioned mister 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 adrienne 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 cofounders building a farcaster we would have a few few sets of cofounders 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 farcaster stack like free three month subscription to privy or neynar or x dollars worth of amp's credit is there interest in this which couples i mean cofounders should we invite first so if you have ideas for the couples i think that would be fun by the way yes j r j r f 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 neynar is in that'd be cool obviously everybody wants dwr and b and yep

for 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 yes the interest is there so

it spicy yep yeah

oh that'd be fun weird that'd be fun

i was thinking about

yeah we need all that

so we'll be we're working on that working on that oh yeah comfrey and nifty that's the tippin tippin crew

and the los formos 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 fun that would be fun we could do a

meiga i don't think that's gonna happen but but meiga 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 dish 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 we'll have to sub in moonpappy there you go although this would definitely bring the ratings

mission proxy would definitely be interesting

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

not to dish no i love dish too much

and he's too sweet never never in a millionaires

never never would do that to him

surprise that's like a this is your life kinda you 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 but the other way around i'm open to but i would never i would never sabotage dish alright

anything else adrienne it's been a long one

yeah this

is your on chain life there you go exactly show

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 you 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

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 dollar sign gas something like that but sos might have been based on that too there was a couple back in twenty twenty two ish time frame that gave you based on your crazy crazy fees you paid alright yeah exactly all of us many such cases the gas spent in the spring of twenty twenty one alright 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

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 base camp 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 that'll be fun alright everybody that's it for us we will be back friday at 08:30am no guests this week we are taking it easy there's lots to talk about 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