hi gm farcaster it is friday december 15th and you are here with adrienne and nanushprof for 21 minutes of farcaster news to start your day adrienne how are you this morning what a lovely background you have
thank you good morning professor
good morning we got a small
my background is a yeah do you recognize it it's a fennec fox
it's a fennec fox which i know you're a big fan of the fennec foxes
love the fennec fox
and it is this week's mint with warps fennec in the zoom light by you go girl and i did did pull the dan's cast up here on the screen so you can get a better view of the new mint that you can mint with warps and she talked about having some easter eggs in there and the zune light i assume is this zorb that's back here that's a little zora zorb and i do see a little noggles little noun's glasses snuck in there so that's really fun so that's our backgrounds today so we thought that was gonna be the big news like the
we would we would talk about minting with warps and farm master native artists and pixel art and how cool our fennec fox looks
right exactly you know and you you love the fox so i mean i know you're excited to see another fox but we have some other news so johnny mac at nonlinear i think summed it up pretty well in the past 24 hours we've seen a farcaster native meme coin ama with a legendary tech operator new warp cast features and product launches and updates from numerous founders i fucking love farcaster and i appreciate every single one of you and part of that was because of this fun that we had yesterday with a particular new meme coin and johnny was also one of the folks that was on the stream the livestream talking about points and we're gonna break down points in just a minute because that's gonna be pretty much our whole show so before we get to that we wanna talk a little bit more about warps 'tis the season to send some gifts this is from varun gift wrap gift warps i almost said gift wrap gift warps send gifts of warps to your favorite casters gifts are exactly 100 warps and can't be changed you can only send gifts one times per day one time per day to the same caster and we had within this little image a little bit of some we had some alpha was snuck in this image because in here you can also see that we now have
dm direct cass on web so this is very exciting for cassie and all the others who've been obsessively asking for it so there you go now you have direct casts on web plus you can gift warps and guess what guess what adrienne we're gonna get some warps today we're gonna give some
warps oh this is so exciting hanging out in the
chat so we'll see i was gonna give some warps to our chat we'll see no one's in there if you're in there you might wanna see that
the very from the very second they announced warps and you said to me oh we're gonna i can't wait to gift them we didn't know they were gonna give us the ability to gift but it was like oh that would be really cool to be able to gift to gm forecaster listeners and absolutely today
and then and today's the day today's the day i was gonna go back and give to a few of our regular chatters but also anyone who says hello in the chat so we'll we'll be doing some gifting of warps
live chat is awfully quiet and i think people may have a degen hangover
it might be
it's friday morning early east coast time very very early west coast time so
i mean and that happens when you're d jetting so let's get into that so i can explain what in the world happened yesterday well actually 2 days ago it started
alright hold on i've got i'm gonna i'm gonna cut you off because i got we've got we've got 2 in the audience we've got breaking news i've got 2 live listeners
breaking news we have chatters g gm monkey
links first two warp presence are going out to monkey d links and monkey d links arjen okay resident poet resident poet of farcaster amazing as it should be as it should be hello friends
thank you my friends so if did you get you got them already are you already sending out warps or do i need to
am i supposed to send them live no
i didn't know if you were doing it i thought you were doing it right now and i was like wait i can do
that like i can multitask no i have 21 minutes i'm talking to you about degenerative degenerative activity on farcaster and then we're gonna send out
and then we're gonna we're gonna get some warps just keep a note okay so let's go back 2 days ago to kyle at kyle on farcaster who said the next meme coin will be called points dollar sign points you won't be able to earn it it will have no other purpose besides being a meme coin and it will rip and then coop said contract address and i am math i don't know if it's matthias or mathis responded i'll airdrop 1,000,000 to the first 5 degens who replies to this message everyone else can get them however they want so thus began points and at which point poor mathis i don't know if you're matthias or mathis i'm not sure which please correct me so he was stressing out like big time so let's let me break down for those in the audience who maybe don't know what a meme coin is also colloquially known as a shitcoin and i'm gonna try to keep to the meme coin vocabulary but i might slide into the other but you can launch any kind of erc 20 token that you want anyone can do it i've done it we've talked i've talked about it in class it has no value when you launch it unless you launch it with a liquidity pool meaning some funds that back it up it has no value it's a zero valued coin and it can be used for whatever you like like some people would you know create their own ecosystems their own rewards you can create your own little you know economy really so when you so he created this points meme coin but he set an amount that you would pay in order to receive them unless you were airdrop them and that amount was 0.01 for per 10,000 so that's how the liquidity starts to develop is by people buying and then it goes into a pool but it actually didn't go into a pool directly because of the way this particular one was set up so there was a little bit of like concern there but what he did was actually move that over to the liquidity pool and what a liquidity pool does is back the token so however many tokens you have out in the world and this is your liquidity pool that's the value of the token essentially so
where did it go originally if not into the pool just in address
went into the contract it went into the contract so and this was a very like he quickly spun this up it was a mint by contract then he created a a small like very basic ui so you could just go in and mint directly from this ui it makes it easier but you could still just mint directly from the contract and then the funds go into the contract he then burned okay so then he goes on to unloney because it starts popping off and he's getting a little nervous so he's gets on unloney and chats with nonlinear brian and df i believe it was so they're talking it through as to what he should do with this coin because it you get you know it starts to pop off it starts to go viral people start putting pressure on you as to what to do because now you've got this very large supply and it's controlled mostly by the contract owner and that's always a big risk for anyone who's now buying into this project so so he goes on on lonely they talk it through and he decides he's gonna burn 80% of the supply and i think it ended up being actually 75% so that's what he did but this was the funny the funniest the funniest thing that i saw yesterday was his watching points take off meme with the chuckles i'm in danger from south park i'm in danger he really was so nervous so that made me so much more bullish on this project it was funny because i'm watching him like this poor guy like had no intention of like he wasn't creating a scam coin he wasn't creating anything it was just like i was going to do this for fun and like what did i do oh my gosh fuck
around fuck around find out he found out
he found out this is what happens when you when you play with meme coins so what happened next so this thing went viral like crazy out of the blue and started with farcaster which i think is just so fun like so this is the first you know farcaster native meme coin really so it started popping off first and what i thought it was oxen i didn't grab that one who said this was a you know warpcast interface and unlonely meme coin and it was and it's really was true because the way the reason i started to look into it was i was getting alerts from interface which is a platform the reason i have interface to begin with was to be able to see video a little easier that's shared on farcaster because it it streams it just better
can you talk a little bit about what interface is
yeah that's so that's what yeah exactly so it's and that's why i got
an interface
interface is an app it's connected with farcaster and you can see what every everyone's activity is on chain so it but it also drops the reason i got it was because it drops a real it's a really nice interface in terms of being able to see video that's dropped on farcaster you can see it easily so but it also tells you everything that everyone's doing so i started to see these notifications that all these people were minting warp minting points warps little little little freudian slip there points and i was like what is happening it was all these people from farcaster so that was the first little bump and then it started to take off on twitter and that's when we started to see this next little bump and i thought bill's comment was hilarious that you know twitter is gonna be our exit liquidity because again when you're when you're dealing with meme coins there's no there's nothing of value to them at all the only value is number going up your number goes up you sell you make money that's it so sounds a little ponzi ish ponzi ish because it is ponzi ish the only way that you can then sell is if more people are kind of coming in the door to buy and speculating so it's all speculation so there is a hype cycle to these coins they tend to if they do hit a critical mass if they take off they take off pretty quickly and then they usually crash pretty quickly and we saw that yesterday and then it'll do it again it'll do it again and it'll probably continue on like that until it finds like a leveling off point and then it'll just sit probably for decades so that's usually what happens unless somebody decides to create some kind of utility that points can be used for we're already seeing that and that's the funny really funny part and why meme coins are gonna be very different on farcaster so so that's where we are at the moment so there's been about 2 days or so that it's been out in the world but yesterday was really the day it popped off so it'll be very interesting to see what it does today you know not financial advice never but never ever ever put more in than you're willing to lose this is a casino this is the casino part this is not the bank in any way shape or form so if you're playing around with meme coins like it's just consider it lost money and if you get lucky and you know you hit you hit black then you might you know you might you might make some money but it's it's very hard so there's my 2¢ on that so adrian did you buy any points did you mint any points no
nope nope nope nope nope and nope croft thank you so much for that breakdown on on points and and meme coins in general
not a fan myself but i you know financial advice i'll give financial advice no i i'm
actually not a fan don't buy any
i love farcaster i love the ecosystem i it's it's it really is a fascinating social psychology experiment and
it is entirely in bits and in this fake digital space but there's so many parallels to real world and i mean you're the professor i'll i'll be the student but you know if you wanna be a student of of of the world i mean there's a lot to be learned
completely and it's you know it's really what i've really enjoyed is all these people who've never degenned at all like this is their first this is baby's first degen nonlinear i think first meme going it's so cute
look nonlinear who's as as as kind of web 3 native foundry yeah broadcaster og as they get was talking about how this was his first descent into degenerate yep into degen degen world and he gets it and he was like oh okay i and and he was super supportive and by the way that the unloney stream helpful
the unloney stream was fantastic
why are you guys so amazing and lovely and can you all be my best friend for the rest of my life like like really this it's it's incredible because
and literally he probably could've done that with anyone in the farcast because it just said hey can you jump on a call with me i'm freaking out and then he would would have been there and been like sure of course i get
yeah let's pivot let's actually pivot to that so you've got mathias creates a meme coin yep oh again he you know probably he wasn't thinking it's like this is what you do you throw something out there you don't know what's gonna stick yeah and it sticks and it takes off and his immediate is like oh shit what did i do but any other place it's like well look you've got funds like look at all the money he's getting so yeah oh oh we're supposed to feel sorry for him yes we are people understand
right so our he's also trying to figure out how much of that those funds to put back into a liquidity pool he's talking about how much should he burn because there's there's tokenomics at play and if you need thinking about like if i burned x amount then it gives more value to what's left etcetera like that's why when we're talking about tokenomics it's things like that there's all these different levers that you can push with a coin and he was just like i just made a i just made a fun coin
and he's like no we're not
didn't think about any of this
and i imagine he's and i imagine his stress is coming from now its reputation right he's in the eye yeah he's concerned about his his reputation he's not concerned about absolutely and and how much is that important in web 3 we talk you know reputation matters it's everything trust yeah so just phenomenal so i jumped i did jump into the unlonely stream for a very short period of time but it was the most compassionate supportive like everyone on the same team vibe and i freaking loved it
loved loved it
loved it loved it loved it loved it loved it
it was so good so and so kudos to brian for spinning that up so quickly and providing space to do that because i thought that was great and it was just great to see like that support level come and and watch him like real time make decisions like he was real time like okay this is what i'm gonna do and then going to farcast and like warpcasting it was giving paul sending it out you know i'm being like this
is what i just said he was vulnerable it was authentic just a quick shout quick shout outs for people joining in the cast in the chat kbc and ivy joined good morning good morning and i just wanna call out one thing link said which i love monkey d links farcaster takes everything gross about web 3 and makes it wholesome
yes yes i agree i agree i agree
i agree it's it's it it it really does and it's really been funny to watch this part of it and it's funny to see the degen channel popping off and seeing like you know the degens who are there all the time like being able to like educate the the you know the new the newbies coming in and and it's just been i don't know for me it's been a lot of fun the past 24 hours and i consider myself i always joke i'm a part time degen like i am the kind of degen who if i do hit i'm not making generational wealth because i've i've you know put in a $100 like i degen in a very tiny tiny way because that's the only thing i'm comfortable doing and but i i will tell you it it's it's probably one of the most fun parts of crypto honestly when you ride these little meme coins but they can be it's a total rush but it's a you can have a crash as well so beware
yeah well let the goal be the meme i mean if the if you're in it for the meme you're winning and i actually just posted a quote from the network state book by biology the other day and i i was going through my old kindle notes i read the book last year i was going through my old kindle notes and i highlight things and something came up and it was you know the value in real estate is location location location
mhmm i don't
know the exact quote but it was something but the value in kinda the internet is connection connection connection very true and so something like this happens and if you are in on the meme you know it's you're making connections you jump on an like the it's community
yes
and it's connection and that is the value so but you're in a casino where there's actually people who are kind of exactly like everywhere i'm and again and i'm not super comfortable with any of the no it's not that i'm i i i just i get it
i don't know where
we have too many questions i know that to gm bar cast
everything on it different i think you know you can you you've got people who are just are gamblers you know they're gamblers they they have that in them they're gonna take those risks and they're gonna have fun with it as long as you you know gamble responsibly you know to me it's fun but there are some people who are just like i can't and it's so funny i went to vegas with my cousin decades ago and my father gave her $20 to play in a slot machine she played that was it she didn't play anything else she's like what is the point of this she just had no interest and i'm like this is so fun you go up you go down you try and you know and to me like i'll walk into a casino and be like i'm gonna you know lose a $100 and that's it and it's it's gone it's gone and i'm done but not everyone can do that so it really depends on your risk you know your risk aversion your ability to you know quit when when things go bad and just you know gamble responsibly but chick you know meme coins chick coins are that's get you know it's the full on casino like there's no other reason for them to be but it's really interesting too to see people talking about trying to use points like integrate points into things and actually give it a use case and it already has a use case within bounty caster so how quick was that that linda spun up and was like yeah we can we can add points to caster like overnight so that was one of the other things that we saw that was really crazy i was just impressed of how quickly that happened so linda shout out bounty caster points now supported on bounty caster give the people what they want but also give us a break on this so we can push out v one of our reputation system because they also pushed out this week warps so you can do a bounty with warps or you can do a bounty with points or with eth right now i think those are the or usdc sorry usdc so that's pretty amazing how quickly that happened within 24 hours you know boom so again you know farcaster ecosystem is unmatched in terms of talent for sure crazy
and i think that's it's the nature of composability of it it means you can move really fast and because bounty caster shouldn't know what points are and they're able to kind of connect it right you've got no
your bounty caster should not be integrating points but they did
and they do it fast because
and they did it fast because give the people what they want and i love that i think that's hilarious i love this the revolution will not be televised but you can definitely get on chain odds that's funny yeah so the degens are having a grand old time so let me go through some of those fun little casts i am begging cameron i'm begging for somebody to please send me a dm when points moons don't worry the dms cameron are just this large group chat we call war cast johnny mac you either make it as a builder or live long enough to see yourself become a d gen and there you are johnny you are now a d gen and guys we fucking did it in actual real life honest to god fast park hazard native meme coin i am matthias i know it was hard birth a hard birth but but goddamn rise of the d gen channel we've had some fun little visual memes and then this was my favorite by far bill there is only one strategy to this points game make casters rich and use twitter as our exit liquidity and we are out of time but i did wanna go through some of those because they were hilarious
i don't like the use twitter as exit liquidity it's like
thought i was sorry
i just have to object to that okay okay
risa i i i know i i i thought it was a little harsh as well
is it it was not
that wasn't it was phil it was phil z don't blame
okay bill that is not wholesome but but but 2 things i wanna call out i know that it was 2 things to call out both i am matthias and you go girl yes had very few followers this yes before this week so iammitayas had about 300 he's more than doubled so he'll you know he's on the map and and you go girl had under a 100 they couldn't even get they couldn't even get the active badge because they were look at that under look at this beautiful pixely fenek 5
we love it
so i i just it's you know again we talk about ogs and do we can forecaster still be the place where you can you know make a splash without having a a big following so hopefully that yes yes yes you can
yes you can yes you can and congratulations to all the folks making a splash this week on forecaster and warpedcast we will be back with you monday i can't believe how fast that went i knew it was gonna but wow there was a ton more so we will add a few more links into our show notes so you'll see the recording go out after the show and on everywhere you get your podcasts so we will include some additional links and with that have an amazing day happy friday bye bye
happy friday