interesting good morning it's monday happy monday very yeah feeling very monday rain
no not here nope okay how is yeah how is the weather where you were
apparently tiktok said yesterday was the biggest rot day that has ever occurred because it was like raining across most of the country or something
yeah it's it definitely was i was seeing a lot of videos of just flooding in like the mid atlantic to northeast was looking awful even down to like north carolina like that was kinda crazy let me just answer this right up front danny we don't know hi we just don't know but as soon as we know we will let you know i promise you that and i hope maybe this week we hope so stay tuned but as of right now in this moment we do not know what the future plans for clanker are so as soon as we know though we'll let you know hopefully soon no problem anyway just saw i just saw that in the chat and wanted to just let's just get that right up front we're still in a waiting game we're hoping to have some information maybe this week but we shall see we will keep you all posted as we go through the week yeah so the weather was a little crazy up north saw a lot of crazy videos on tiktok of just like people canoeing and kayaking down streets and crazy stuff like that and burr had posted you know some some serious waves and erosion from her where she is in in new jersey so yeah a little crazy a little crazy out there so hopefully everyone's safe we have not had a hurricane yet this year and no that was just me i knocked i knocked on wood and mookie went crazy
do you think it's the door like is that like when people knock on your door that's so funny
yeah i i should have known better than to do that yeah so this there's been a very quiet hurricane season however when we get bad hurricanes they usually come in oftentimes come in october so not out of the woods yet so we shall see but it's been pretty quiet and i was so surprised that everything went went up north my dog never left his knock off wood yeah there was a shark in the streets of atlantic city that's crazy i wonder if that was real or ai we'll never know we'll never know but that's wild alright let's get this party started we do have a few things to chat about so we are going to start up with our little intro and we'll be back on the other side of this forty one seconds so do share retweet recast let people know you're watching we are gonna have jacek on at the top of the hour at noon eastern to chat about poof and pov so let's get folks in here before he joins us and we'll be back on the other side of this forty one seconds
welcome to gm farcaster bringing you everything from breaking news to spicy memes to the deep lure 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 monday september 28 and i don't know where september went that was kinda crazy and you are here with nounish prof and adrienne for let's say twenty nine minutes of farcaster news to start your day plus a chat with jacek so i'm very excited jacek of degen fame now pov and poof and we're gonna be talking about all the new stuff with him by request by the way this was part of a poid we love to have jacek on anyway he is now a five timer after today so but we did get a specific request to bring him on to chat about poof in particular so we're gonna do that and we appreciated the request via poid pixar didn't happen bounty so that was kinda fun just doing a little pinning and retweeting and let people know we are here and live
and there we go alright let's get started we do have a little bit of news to chat about we've got a few things going on i watched the mtv video music awards last night for reasons unbeknownst to my own self and it was an absolute train wreck and i couldn't look away and i literally had casted this last night madonna just won artist of the year on the vmas nirvana won video vanguard award what in the delorean year is it and snoop dogg was hosting and there was a george michael like tribute he died ten years ago i'm like what what what is going on also it didn't even occur to me that you know mtv doesn't even have music videos anymore and they were broadcasting for the first time on cbs it the whole thing was bizarre it was bizarre did you happen to watch any of that or see any of it like today
what even i didn't even know mtv was still a thing i didn't know they're still doing the vmas i didn't either i'm not at all surprised that they haven't you know it was crazy their ass out of 1993
it was so freaking crazy i didn't know it was on i just happened to see it like you know turn my tv on there's a little thing and i'm like oh okay snoop dogg sure i'm in let's see what this is and it was just freaking crazy and then the new york times i shared this article said what year did the mtv music video music awards celebrate on sunday it wasn't exactly 2026 and i'm like okay so it wasn't just me alright good it wasn't just me it's very weird there were some good moments there were there were some interesting moments but it was bizarre it was really bizarre
it ended this was really good young lean and generation who i didn't even know who that was very cool it was a very cool performance like really cool choreography loved that that was that was good shibuy that was good like there are moments that were good but most of it was an absolute train wreck and even the opening number was fine it was madonna sabrina carpenter charlie x c x but the lip syncing was off it was just weird and every time madonna madonna won three awards like why why and also every time she went up to get an award it got weirder and weirder and weirder and it was like what is she on or is she completely losing her mind like couldn't tell which it was and also she had the weirdest b b l and i just can't so just if you're on tiktok today i'm sure you'll catch the highlights or lowlights and enjoy is all i will say about that yeah so weird this from eulerlagrange so this was we had some really cool things from hester pierce who is retiring from the sec after like a decade on there i think amazing to see this from a speech by none other than hester pierce pierce from earlier today the keys to the castle for making regulated finance composable through smart contract environments is the nature of cip what normies call kyc and the incentives around the core obligations what this means and what they were talking about was making it so that you only kyc cip once rather than doing it every time you have to go to a new exchange a new thing a new whatever so this was part of her speech pertinent to that last question we should make it easier for registered entities to rely on third party identity verification for cip purposes right now with limited exceptions our cip rules generally require each regulated entity to independently collect and verify customer information even when a customer has already been vetted by another registered entity this means duplicative collection means that the same person's sensitive information gets copied stored and put at risk across dozens of institutions if a customer already has been verified by one regulated trustworthy entity why not make it the norm for every subsequent institution to rely on that work this area is ripe for experimentation and the potential cost savings for firms like yours or events so was i guess in response to a question and the the reason that our friend eulerlagrange is sharing this is kyc once and use everywhere is exactly what we're building at opacity labs opacity opacity opacity labs so very cool that was really cool to see and then we had this from our friend hester t minus seven this was september 21 when she had written her letter that she was retiring and i believe it is yeah october 2 so later this week is her official date and we just wanna say thank you because she's done some amazing work on behalf of crypto industry in particular and with a very nuanced and straightforward and logical approach rather than it being any kind of partisan either either way so appreciate her work for all of us
this from hayden adams some bangers from the sec today buybacks do not make commodity token into a security liquid staking tokens for commodities are not securities so that was some issues that we had under the last administration and there were people sued for that all over the place and there's a lot of money wasted in courts by both the government and the people who are being sued over this issue and so that is good to see our staking
so stake away so good to see this and then we had this from our friends at privy they launched stripe crypto as its standalone at least on on x as well as a sort of standalone entity i believe access stripe issuing this was very cool to see access stripe issuing directly through privy's prebuilt components and launch a stablecoin backed card program in as little as thirty days we launched them just two weeks ago and our first customer is already preparing to go live so stripe issued stablecoin cards have 0% fx fees stripe establishes local card ranges with local fees so when customers spend in their home market there's no fx market or typical 1% cross border fees so very cool just you know love to see our our friends building cool stuff so good to see and stripe crypto was looking for an intern i debbie check your check your message i might have jumped in there couple more interesting things on the crypto front we have this from sailor michael sailor strategy sets new btc holdings record after a 143,000,000 bit bitcoin purchase michael saylor's bitcoin treasury firm bought 1,665 btc last week taking its holdings above its previous record to $84,766.06 btc so that's kinda crazy and in lockstep is tom lee tom lee's bitmine buys another 47,000,000 of eth taking it to 4.9% of the ethereum supply that's dangerously high to my mind but okay bitmine has staked 84% of its tokens a position it projects will generate some 358,000,000 a year in staking rewards like that's incredible but so if you're wondering why the crypto numbers are looking pretty good last week now you know it's a big reason these two guys and also i was also looking and i saw the etf flow has started to have an uptake as well so between those two things that's why we're seeing an uptake uptick in price for both bitcoin and ethereum and eth so that's good news moving on farcaster news there's not much it's very quiet shh don't wake the baby it's very quiet over in farcaster land as we await to see who who the new owner is so this from bradq twenty nine seconds of farcaster what did you miss this weekend let's start with gm farcaster today with jacek as a guest yes jacek will be joining us in about fifteen minutes or so this just in vitalik uses poid bot as he added one eth for the best offline android research app and we do have some info on that poid continues to shine right now with great community efforts from r dupon running against cancer and statuet wanting to support kenji quest to keep cooking videos so very cool bizarre beast is having some fun showing and talking about decentralized art in an nyc gallery in collab with dcp foundation so very cool which i'm guessing makes your berserker happy yes we love to see bizarre beast doing cool things we showed his puppet last week which was just very cool so love to see him cooking and then this is a discussion on the timeline a bit
meanwhile the uk government published official rules on how to use ai and a lot of it was first ask if you really need to use ai and then check if a spreadsheet can do the job before using ai choose the worst model possible so it uses less energy keep prompt short to reduce yeah so a whole bunch of stuff like that
no it's real
oh it's real and then antimofm is saying what the hell is gpt instant yeah no it's real it's real yeah it's real there you go using ai more sustainably keep your prompt short use as few prompts as possible only use ai when needed find out how to use it gemini flash instead of gemini pro gpt instant instead of gpt thinking things like that so yeah no it's it's real so antimofm had some had some thoughts so that he he said about what what the hell is gpt instant i had to google it because i never heard of it it doesn't even show in the model selector on codex turns out it's that 5.5 legacy coding model it's the normie model basically they're using chatgpt.com in 2026 and they're worried about their impact environmental or otherwise i wouldn't be so yeah yeah so yeah there was a lot of discussion in here about don't say thank you and please i will i will continue to do so and then yeah phrases like please and thank you this is interesting from flash profits this is the part that i thought was interesting phrases like please and thank you add emphasis to what's important this is natural language after all maybe we should say double plus good instead and then peachy saying i refuse to talk to a robot like a person but i thought that was interesting and there was apparently i don't think i have it in i don't know where that went there was like an actual research study oh here it is adding emotional urgency caused a staggering 115 relative performance improvement on certain complex logic tasks and a 10.9 average improvement across generative tasks so i thought that was interesting that when your polite prompts enhanced an average response quality up to 11% so again personally i will continue being nice to our robot overlords just in case if you guys wanna be mean you go right ahead they're taking you out first i'm just saying just saying by the way later this week i think thursday there's a friends trivia i believe there's gonna be a prediction market me brad and jacek will be competing on 60 questions so i asked chat gbt hey why don't you prep me give me some questions
and i spent the whole morning correcting the questions that chat gbt was giving me because it kept giving me more things yeah it was pretty funny it was really funny it was just like oh you're right again so hi making up things yes you are you are completely making things up that never happened on this show and that was really interesting i was like wow what else are you getting wrong there buddy because this is like pretty straightforward and you are just making things up but it was really funny so and also yeah be scared be scared brad and jacek just be scared you should be you should be i don't know why you think you're gonna do better than me but okay alright moving on let's move on to builders this from burr plants a semi under the weather so i attempted to load trivia for today as a result i accidentally loaded two days of music lyrics by decades i don't know what i'm doing anymore starting at noon so famous lyrics starting at noon today should be fun and i will be joining in probably around one i'll start with the eighties i guess please i hope there's nothing by madonna just i can't right now i need a break and also in the lobby new letter loops game is up i would study up on your letters because there's gonna be more of these games come play letter loops with me in the lobby to win prizes so letter loops is now in the lobby as well as well as some sports things in there there's still a nfl survivor if you've been playing i think i'm still in it so yeah still hanging in there and then one more thing from burr this was funny oh you want to be a farmer starter pack there you go
very funny so be careful out there some of these things may not have any value we had this from i don't know if you saw this you may not have seen this from wbnns our friend he was on tv he was on in a local paper last week and tv this week rtp portugal's national public broadcaster had me in their azores news studio to talk about the flight tracker i built for the islands flights here are expensive and the same route can cost three x more depending on the day you book so i built a free tool that watches all 18 direct routes every day to help people get the best prices you can just build things that make corner of the world better how cool is that how cool very cool so yeah i'd missed that i'd missed this part when he was in the paper but then he was on tv
he has he's been on this he's been right here with us as well but one of my favorite builders so very cool very cool to see like normie normie world recognition so very very cool this from mvr see your follows live on vibe shift cast replies reactions as they happen this is a pretty cool feed if you have not checked it out it will show you like what's what's happening in terms of all the followers replies certain channels so very cool can go check that out just another way to view feeds and what's going on so very cool like it i haven't checked that out lately and i just happened to see it and i was like cool so go check out vibeshift moving on a few more things we have this from your berserker in empire builder there's a lot hiding behind one little manage button in empire builder you likely already know our no code tools can bring your on chain creations together surface the people showing up for your community help you reward them along with staking burns etcetera of course want to make a leaderboard of your top token holders top nft holders distribute on different chains to them in your empire treasury managed two authorize more tokens for treasury display deposits anyone can deposit and distributions spin up and name separate treasuries for subprojects or other community initiatives enable more chains and reach communities across base arbitrum ethereum monad bnb chain and robinhood so now robinhood is part of that as well the first image shows where to click the second shows what's inside what would you use an extra treasury for head over to empirebuilderworld....world mini app or website to check it out from dream to empire so very cool there you go we haven't done enough with our gm forecaster empire i've been very slacking on that should go do some things there should give away some of our our year three nft is what we should do so i'll do that i'll do that later today and then this was cool from vitalik testing out some of the mobile offline local knowledge apps that people have been trying to build see here at poidh meonet bounty definitely getting much better than the one i tried to build myself two months ago but also still much slower and less effective at difficult questions than the models that can run on a laptop it's weakest at specialized travel related queries e g my eval is tell me the best vegan restaurants in city i am currently in unfortunately none of these perform well on that looking forward to seeing these continue to improve i hope we can get to a point to the point where you can comfortably look up any facts about the world that you care about without needing to access the internet at all so this is part of he's doing a poid bounty as well let me jump over there real quick and it was really cool to see that vitalik is using pixar didn't happen as well so very cool to see this build the best offline ai research app for android so this is what vitalik is looking for build a casual info lookup and research tool that runs entirely offline on android oops let me just pull this so you guys could see it and is less than 50% as good as internet search or greater than 50% as good as internet search and frontier ai models people travel with their phones into offline situations all the time and if you're literally offline remote inference doesn't help his past attempts got 10 tokens per seconds from one b models that break on anything interesting you suggest extreme moe might be the right architecture for phones including newer variants like ngram models something like 100 bill b params most living on disk with less than 1,000,000,000 activated per token that's one promising direction not requirement any architecture that gets there is welcome so there you go you can check out the requirements if you wanna give this a shot the winner submissions will be judged by vitalik based on the requirements so there you go if vitalik publicly confirms that a submitted build meets that bar that submission wins the entire prize pot and the mountie creator will accept the confirmed claim so there you go right now it's at 1.139 eth so about 3,000 ish dollars right now so go to it people very cool there you go
and then we had this from kenny which i thought was really funny
an app that's flexible enough for on chain hot dog contests and local ai breakthroughs good tech there you go italics using poid so very good to see kenny also did something kinda cool i published this bounty description based on a profile of nounish prof's cast history and what type of bounty she might publish then an ai went and made the first claim it's fun living in the future and it made like a daily cast based on my cast i guess so very interesting front page entirely
i get a news crossover challenge so it was something that yeah that kenny created and yeah yeah so very interesting a front page set entirely from cas this week every quote is real the headlines are mine handset and html and svg halftone bull run included so very cool yeah interesting things going on with poid that's for sure we also we had had seltorius on on thursday last week to talk about the runtime agent week that they ran in new york and we have the winners so this is from bankr bot but technically it's from igor and seltorius who i think were the ones who were going through all of the projects thank you to the runtime agent winners are in thank you to everyone who built with us online and in nyc and to the sponsors and judges who made the week happen here are the winning projects the people behind them and what stood out bankr grand prizes first first place i'm gonna say i don't know if it's tetris it feels like tetris takes 8,000 built by roman laverne alfred matthew and amerik tetris brings asset managers on chain with permissionless vaults for traders curators and agents second place rentsafe takes 5,000 built by ron treski and sharjah sharjah sharjah rentsafe turns rent risk into a tradable market that's interesting third place monaco takes 3,000 built by logan norman crystal and andres monaco takes trading social friends pool funds propose trades and vote what to buy that's pretty interesting as well then we had track winners the dynamic track was advance built by katrijana i'm not even gonna attempt that last name chosen for original approach to agent borrowing in a well executed design uniswap track also advance applies continuous clearing auctions for issuing credit for agents with room to extend the model across venues margin call built by david hurley turns leveraged stock positions into transferable nfts backed by main net deployment the judge is verified rentsafe won another one working this was the uniswap working v four hook that settles from rent newsletter without relying on an oracle interesting definitive flash track cassie takes 500 not different cassie cassie is the name of the app i guess built by eulerlagrange the most rigorous flash integration of the week it validates orders before signing and handles status tracking stop updates cancellations nightdesk by uh-uh nope he is aaron's way jennifer and faber makes flash central to every shared trade plan pairing take profit and stop loss orders with proof of live main net execution capacitor built by tariq utkarsh and said hey tom puts flash powered stop loss and take profit orders right into users trading workflows then there was a blackbird track so blackbird is fly the restaurant crypto rewards reps restaurant where you can pay with your wallet table talk built by greg skrill we know greg gives flynet check ins a social layer so diners can follow friends and discover their restaurant experiences oh social and crypto how weird weird
rue built by emmanuel matacor stood out for its user experience and a practical answer to a familiar group problem deciding where to meet black black palettes by oluwali israel the most complete experience for both restaurant and diners restaurants recruit tasters through verified visit history and diners earn fly for feedback that helps menus very cool lunchdrop built by poof abraham a thoughtful design and gifting experience built around sending lunch to a friend k lolo built by ibu keral chosen for its ui and ux with a social layer that keeps blackbird regulars connected after the meal and there were a few others that were noteworthy and you can take a look at this we'll have this link in the show notes but i did want to just call out a couple farcasters that we know gabblegate by gramma joe private desk by jacek chan and tpcp by ahn justin ahn so i did see them in there oh and demurier inoculum agent by schmidtiest so a few a few of our friends in there so congratulations to them as well and that was very cool and this was from on this will be in our show notes as well i built an agent for the runtime nyc hackathon last week that pays contributors to open github repos and any token on base pleased it was considered noteworthy so very cool and all this will be in our show notes and i see jacek down there so we need to get him up here before i do that anything else that i may have missed adrienne on the news or anything like that
very quiet news cycle but you know who's been busy jacek jacek has been very busy not quiet lot going on and we're excited to have you here welcome
hey it's good to have you here do you like my background
i was like oh i know exactly what my background's gonna be today we're so excited to have you back we have lots of you've been very busy like we said farcaster's been a little quiet but you have definitely had a lot going on we have lots to talk about i have a few things that i pulled that i want to just oops let me switch this over here just kinda chat about real quick share well this was the in case anyone missed the video that's my background today very funny very cute very memeable but you launched poof fairly recently and yeah that was a big launch on robinhood so just gonna read this real quick meet poof the uninstall wizard he thinks deleting the app deletes his losses hard to argue with that confidence poof is now live on robinhood chain and just a couple more things and then i'm gonna ask you some questions about it the you've you've been like talking nonstop about this how does poof help degen poof's main pool on robinhood chain is paired with degen giving traders a reason to use degen too today degen saw 1,200,000 plus in volume on robinhood more than its dex volume on base poof builds its community degen reaches new traders because there's been a lot of questions about that and then lastly you just posted this that i thought was really interesting talking about the wallets and i'm not gonna read this whole thing i dug into the first wallets about proof to understand how much supply snipers and bundlers picked up where it went and how much they still hold the good news every bundler group i identified has sold out and most of the sniper supply has already changed hands that gives poof a lot more room to grow and you kinda went into a little bit more detail there so let's step back a little bit and talk about what sort of inspired you to launch this token and sort of where are you going with it talk a little bit about how it connects with degen so that people understand a little bit more about that
yeah so i launched it what was it like a week a week and a half ago and this was inspired by a conversation i had with mike from one conf so essentially we're talking on thursday and they having you a platform that they incubated and it's called grail grail dot x y z and essentially what it is it's kinda like mixing real world assets with tokenization
okay
and so essentially what you do is you lock up any item i think they locked up on the week that we were talking they locked up a nvidia card signed by ceo of nvidia and essentially i think like on ebay i looked it up it was like worth like $30.40 grand and they tokenized it and so this was the first time they tokenized it because usually on grail everything was tokenized on base and this time they tokenized it on robinhood chain and so mike was sort of telling me about this went really well on base they weren't getting too much traction the tokens were going to like sort of i don't know a couple of 10,000 or maybe a couple 100,000 market cap and this one like surpassed it this one went up to like over 1,000,000 i think it's dropped down since then so and if the platform is exactly the same everything's the same maybe the asset they locked up the nvidia card maybe you could say that maybe that's worth more than some of the other things but i don't think so and so we were talking about how on robinhood there's just like a lot of momentum there's a lot of traders and so then on friday i was just sitting around in the office alone i had i had yeah this was like a day i didn't have too much to do and so i thought okay i'm gonna run this for fun i'm just gonna run a couple tokens and yeah i kinda launched this one not ideally because i didn't lock up as much supply as like for degen because degen like that was a thought out process this one was just like okay we're gonna pair it with degen let's see what happens and so then i launched it and yeah then i went to go call my uncle we talked to him for about an hour and then it came back and it was like you know at at several $100,000 market caps which was i i wasn't expecting that because it was just one tweet so yeah that that was the idea there i wanted to launch a series of tokens and mess around with tokenomics so another idea i had was launching a token where there's a uni v four hook and potentially doing more of like a community milestone alignment which was basically the idea was like okay until it reaches a million dollar market cap there would there would be like a 99% sell fee so essentially they can't sell and so once you unlock a milestone let's say a million dollar market cap that selfie reduces down to like 80% and then we keep going until we reach like a milestone of like i don't know 10,000,000 or something so trying to do like all because the nft product is one of the things was on
yeah
i was also talking to mike about yeah yeah so i was also talking to mike about mibets because their portfolio company is mibets and so he was also saying that they just released an nft collection on robinhood which was sort of interesting to me and in the nft world it's normal for you to have like a parent collection and then child collections so i was thinking that okay that's that's an interesting concept why don't we do that with tokens maybe there's something there maybe there isn't so poof is sort of an experiment into that like can there be a parent project a child project that helps the parent project in some way we'll see and also yeah this momentum is on the
right so thinking about like degen as the parent poof as the as one of the children if you will and thinking about it like that
so the main liquidity pair is with degen and i so we did do the bridge of degen from base to robinhood like a few weeks ago maybe like two or three months ago and that was through layers zero and stargate bridge and it basically had no effect we did the same thing in 2025 with solana and solana back then they retweeted us we had 0xmert retweet us we had like all the big solana accounts retweet us on the day of the launch and that also didn't move the needle so i started realizing okay so it's not really what what is the appetite the appetite right now is for new tokens fresh charts right there's a lot of speculation there's basically speculation is in in demand short term speculation how can we utilize this somehow for degen is there a way other than creating like a token launcher which is what everybody is sort of doing and maybe that's a good idea too but i just it's so saturated and so hard to like break through
very
so i was thinking okay yeah so that's the idea and like it has worked for the volume the volume on robinhood for degen pair uniswap is better than on base right now and so it has worked for that it hasn't really worked on the the price but it is harder to move the degen price because it's like a 40 or 30,000,000 3 35,000,000 or something no maybe like around 35,000,000 market cap it's hard to move it a little bit
nothing has seemed to like i i think you're not alone in that when i look at pretty much all the tokens especially those who've been around for a while nothing seems to be move they're not dropping but they're not moving up much even the ones that are getting a lot of attention particularly on base is what i'm thinking about like they're just kinda stagnant or staying within a certain range so it is hard to move and i think that it's smart that you you know went to robinhood where right now that's where the attention is just for the moment and and we see that like attention moves
promises on that one too so basically it was like this is for fun let's see what happens are the speculators gonna speculate are they gonna wanna have fun with this token and is that gonna bring in more definitely brought in more volume is it gonna bring demand for degen if the token price goes up then the uniswap pool sort of acts like a vault so essentially instead you know right now there's like maybe $50,000 worth of degen locked up in the uniswap vault because people are trading in and out if there's more demand then the uniswap pool starts selling out of poof and starts buying into degen and so then the degen side starts to have a bigger demand so rather than creating a staking mechanism where people put in their degen or whatever and then they get some kind of points and then maybe they get degen airdrop in the downstream of that which then causes more selling pressure this is a little bit different where it's kind of like no you can buy the asset you want to speculate on have fun and then hopefully this helps degen but it is an experiment so like i don't wanna let you know and then there are other people who like okay now you have two tokens you know
and you have to like but i i like that you tied them together so it's not like it's yeah and and you have to move where the you have to move where the attention is it's just like you know i think you you made some smart moves of like making it available in salon and things like that but like you said it didn't necessarily move the needle but you have to try something so i think it's smart to look at where what's happening where and experiment a little bit so i think that's a smart move
yeah and i mean this kinda came out of the conversation where now mike is in a lot of trading groups he's yeah i think yeah yeah there's like a lot of the top traders on fomo and stuff where he's hanging out and he's sort of seeing like you know the appetite is for like the newer tokens and so how do you capitalize on that other than creating a token launcher which is possible but then you need a new like nuanced behavior like this week the all the rage is for grok money so like jack butcher did the whole thing where he like sent him $8 and he'll send you an nft and token launches are doing the same thing where essentially it's i don't know it's like a short term meta probably but essentially the idea is like let's launch a token launcher create a token get it trending on fomo and the edge or the differentiator here is that for instance like on the weekend when i was looking at these token launches the differentiator was that we will send all of the supply of whatever token when you create the token you can add a fee receiver and that fee receiver is somebody on grok x money right so that was something so then elon musk and all those people so it's cool like there's like all these nuances how long term is that like are is is that gonna be a long term project i don't know so that's why we're also building poof which is something hopefully more fun and something more long term but we'll see
oh good so that you just moved me exactly where i wanted to go was my next thing was pov to talk to you about so perfect little segue to talk about pov you launched this this has been for a little bit now couple months ago how long has it been out
months essentially this is prediction market would you call it prediction market as but a little different so explain a little bit how you would how you would qualify this it's a little different than than like a poly market or a calshay
yeah exactly so the ui the ux looks kinda like a prediction market but it's not really under the hood i think that's the problem we're having is also explaining it we need to figure out like how we can make the ui and ux a little bit better with prediction markets you have to have resolvable markets essential yeah that's the whole idea like either event happens or it doesn't happen it resolves and you also need a resolver like a third party or the platform itself to resolve the market somebody that you trust that's why it's really hard to create permissionless markets for prediction markets just because who do you actually trust to resolve the market and so okay somebody creates a market permissionlessly who's gonna actually resolve as the person that created the market then there's a conflict of interest so if there was a way to do permissionless markets i think poly market would have already created those types of markets it's really hard to do it maybe if you can trust a third party maybe i don't know there's like some kind of celebrity or something and you trust them to resolve the market maybe so i think permissionless markets are really hard to do this was more based on ponder so essentially right the mini app so yeah i talked to i forget colin i think yeah from i think he was joe so yeah yeah exactly yeah so i talked to him and he gave me a whole i i i even have the note sheet here i didn't implement anything from these notes which i should actually because he was he worked on it for like almost a year and a half and all his yeah but it's where
i love ponder i love ponder i i think it's a it was a great tool it just comes down to for them can you make it scalable and that was the issue it wasn't that it was a bad product it's just that some things aren't scalable so i love the concept of this i really do i
think he was saying he thinks he thought there maybe even was some potential there and so there were some mistakes and yeah he was sort of banking on farcaster as everybody was kind of blowing up in the mini app space also blowing up so i think it was cool the way they did it was they also did resolution which i think is also really hard and that's the thing that he was sort of saying was that when you're trying to resolve the markets is that people didn't really trust them to resolve them properly and their mechanism was they had you could vote without actually paying so it wasn't necessarily where most of the money was on what which option like that didn't resolve it because anytime you do that like whoever has the most votes or whoever has the most money essentially you're now sort of in this loop where the market is kind of resolving on data that's being fed not on some third party thing it's really difficult to do that and then it becomes gameable so that's the problem they were having but then they were using neynar scores and other things to try and weed out all these farmers and so there's a lot of and maybe you can do it but i find it really hard to do it that way so the way we did it was we kind of looked at just tokens and okay so tokens they can be attention tokens that was that's what pumped up fun was talking about okay we're launching tokens what do they actually measure they measure attention on some kind of subject and so i was thinking okay but then looking back at the two thousand twenty four election with biden and trump there was a ton of different tokens and yes that's where the attention was but i was also just kinda comparing the volumes between biden and trump tokens and the trump tokens had a lot more volume and they made they just the market caps were higher and i don't know about the fees forget about if you look at all the fees that they made on uniswap i'm not sure but the actual market caps if you look at all the different trump tokens excluding the trump token that he launched in solana but just during the election it was bigger it was a much bigger market than the poly market markets so i thought that was kind of cool maybe too if if you can launch tokens but actually pair them together somehow and compare them maybe that would be an interesting way of launching tokens or launching markets
so you're thinking like you're you're launching the token and then sort of the bet is which one's gonna have a higher market cap by x by this time by that time so essentially like the and i think some of those prediction markets on polymarket have been the most popular like the fifteen minute markets and things like that of like where tokens are gonna move price predictions
yeah but this yeah but this one here the mechanism is basically with with polymarket the prediction market you have the permissionless aspect which is hard to solve and then you have the liquidity aspect which is hard to solve because you need markets that are of a certain size so that you're not getting burned on providing liquidity to people who wanna buy yes because you have to sell them the yes or whatever so essentially then you're taking a loss if if if that pans out so you need the market to be of a certain size so there's enough fees for you to essentially earn off this market and i don't know the exact mechanics i'm not gonna act like i'm an expert but you need that size over here we we don't need that or you can kinda create these pairing mutual markets where you can't exit so essentially you put yes or no so that's another style of prediction market you can potentially do is that put all these options together you put money in the pool and you can never take the money out which then that solves the liquidity issue but it doesn't solve the permissionless issue so this is cool because you can create and then also like what happens with questions that can't be resolved which is what ponder was essentially good at like sentiment on something like what do you think about these three graphics which one is better and so then people vote so that's the idea behind pov it's really an extension of pov but we're doing it a little bit different and maybe we it's it's an experiment so maybe we do do the twenty four hour markets like pov does resolve them based on some kind of voting mechanism but i find that like really difficult to do and so right now the way we're doing it is with two separate sort of meme coins or tokens so to speak so you have a yes token you have a no token and whichever kind of gets a higher market cap is sort of the one that shows the sentiment is on that side
and it's almost like you know it's almost like fan like family feud like you're yeah you're guessing what other people are gonna say you're not necessarily guessing what's the right answer like you're sort of just betting on is everyone gonna say yes or are they gonna say no
and that's exactly right and and that's also what the french guy that won that had the biggest win on polymarket said he did he's he said he went around and he asked people not who they thought was gonna win the election but who they thought other people thought was gonna win the election or something something like that and so essentially it's kind of the same thing like put money where you think people are gonna put money in after you and that's kinda how you earn we need to create better mechanisms for people to wanna hold the token because a lot of the charts look like like pump fund like essentially it pumps for an hour then it dumps or it pumps for a few hours then it dumps so that's not ideal like how can we get people to actually wanna hold these positions one thing is that okay maybe you buy into some positions like some of the funnier ones which is a hotdog sandwich or whatever and then you hold that position but maybe some of the positions are a little bit different and you actually want to have your opinion on chain you want to meet people so one angle is social like can maybe you have an opinion or you have a set of opinions and you wanna meet other people who are like you so we wanna do a social feed right now you can follow other people but we haven't built a feed yet so i think maybe this week or early next week or mid next week we
might so this is what you're seeing on like the on the daily pot you're seeing like alec i can see alec mac but you know pick no things like that and i 100 agree with that direction i think there's been a lot of discussion about social that i think is wrong and i was very vocal about that when jesse went into social's just a wrong bet and i'm like no you just did it wrong
but so people like like to see what other people are are doing period like they like yeah
and maybe this is also like an indicator of you know you have an opinion put some money behind it you know put your money where your mouth is and then also have an on chain transaction that shows that hey i had this opinion back when now everybody has this opinion and it's consensus but i had it back then so maybe there there are some angles here that we can explore the social angle think is cool figure out do we have to resolve the markets do we have to not resolve the markets figuring out like right now the yes and no tokens are on a bonding curve maybe we just put them on uniswap immediately so they are sort of like a a cross section of a token launcher meets something useful like you know express your opinion through buying this token rather than just but you know everybody it's kinda like mixing speculation with usefulness yeah social trying to do something yeah and so
and i think you know what i going back to okay i'm gonna i'm gonna say something and i can't believe i'm gonna say it brian gwan had a good idea you know with with unlonely when he was doing some things especially around when they did the i can't remember it was like the dating show and you were buying like are they gonna say yes or no are they gonna go on a second date you know like who's she gonna pick and those kind of things were interesting they were interesting experiments he didn't continue on with that but i thought there was something to that where you're in a chat you're watching a stream you're watching this like you know dating thing where you know this this woman's talking to two guys who's she gonna pick and you've got people sort of betting on it on the side and i think there are things to that because you also could see who was picking what and what did they know and who do they know and who's their connection and all those kinds of things i think create very interesting moments that are fun entertaining
you know you're not gonna make a million dollars on it but you can have a little fun on it kinda things and i think there's something to that for sure and micro markets as well like i think there's something to micro prediction markets like this like they're not these massive poly market calci kind of things but they're of interest to a subset of people who have an opinion so i think you're onto something personally
i i like i like the streaming aspect too just because i think everything's coming onto the internet so there's all like the new streaming websites sorry the new streaming like twitter pages you guys are doing the stream i think everything's coming coming on on the stream now maybe netflix will you know i think like there's all like the news like cnns of streaming now that was like a thing that just started last year i feel like that became kinda big
well we've been around for three years but okay
are we were here for first
yeah it's very niche exactly
yeah yeah but that that's sort of the the breakout one i think that everyone kinda points to it's kinda hard to say like why is one breakout at another
but money
really good packing and really good connections yeah that's why
and which is fair
i think there's something to it and i've always said that and we've talked about it a few times about like we joked about which hat are we gonna wear are we gonna wear hats or not hats like things that you could be betting on if you're watching a stream like if you're in the chat every day and you know these hosts and you know what they're gonna talk you know there's there's things that you know just could be fun and it's fun aspect it's not like a again it's not this huge speculative kind of moment but just fun things that make it more interactive and then bring people back to watch the show it it creates a little bit of a loop of an attention loop
that is the thing i would like for pov to figure out in some way i think youtube had sort of a viral moment when they created embedded youtube video player and essentially myspace was blowing up at the time so when i researched it basically having that embedded player on myspace and myspace not having video uploads worked really well for distribution essentially everybody on their page had a youtube video at a certain point and so that will that that's kinda what was bringing people into the youtube app and so thinking about like
know that's what chris dixon talks about very early on in his book in read write own is talking about that embedded youtube and how that was a big thing even for if you had a blog or something like that where you could embed that youtube link into your own website was a huge unlock because you didn't need to host it yourself and yeah
i mean that's like that's like the genius moment essentially how can you figure out like with these markets i feel like it could be really great for you know streamers or whoever else you know maybe wanna create these markets but then they have to like point to like a third party website and then it's kinda like you know what do they get out of it and so like figuring out how how to like embed this into like a useful applicate that's why farcaster was so great is that you can embed things directly into the feed with mini apps and i do think farcaster is gonna have a second act because you know somebody is gonna buy it and that somebody is
maybe this week
we'll know this week
think it's a strong possibility that we get some answers very soon
oh okay yeah i'm not sure how long the acquisition process usually works and stuff like that but i think yeah it it it i i think there is more i think there is a second act and yeah where was i going with this i'm sorry i was oh yeah i also think that dan and varun back you know i think that rish and meon i think that they i don't know if they have something like a contract with them whether it's more formal or informal but i'm sure that dan and varun still have a big say into like okay who's because you know the easiest option is somebody buys farcaster and increase the farcaster token and they make like a billion dollar or like a billion dollar market cap or something and i'm sure dan and varun wouldn't want that to happen and rish and manon as well so i'm sure there is some backchanneling that's happening where dan and everyone's like that that wasn't the vision for this whole thing we wanted to go you know because somebody could just pay like an ass like $50,000,000 i'm gonna tokenize this i'll take a a 100,000,000 off of it or something so that i don't think it's gonna go to the highest bidder i think it's gonna go to somebody who's like legit
do you hear what adrienne's playing play it again
every time we asked him because every time he was on somebody would be in the chat just like they are right now one token one farcaster token every single time and he would say every single time what would the token do so unless he said he wasn't gonna launch one unless he had an answer to that question and also i think once degen launched and other tokens launched that were having their own moment he didn't feel the pressure anymore because you kinda took that pressure off of him which i think was a good thing yeah honestly go ahead adrienne sorry what were you gonna say
no i was just gonna say i doubt there's any kind of formal structure in terms of like dan or varun having a say or but yeah it's i think rich has voting rights for neynar right so it's not who's going to the highest bidder it's like yeah i think there's some thoughtful you know it's it goes to everything and professors all the time about just kind of person to person trust so it's like who do you want to to continue on and they're looking at different bids
trust is the is the real currency of web
they'll be kinda if somebody tokenizes like let's say it goes to a bad like a bad actor or somebody who just wants to extract then they'll tokenize it like that's the worst case scenario and then the token goes to zero because it's really hard to have a token even with uniswap they went to like 40 right dollar price and now it's like at 9 but it was at $2 like and that's like one of the biggest companies in crypto and the price like tanked so it's really hard to have like a nice chart so essentially and then everybody on crypto twitter will be or you know just anywhere they'll be oh that was a scam that was a rugbull and it was started by dan and varun
right and that's what they
were always worried about exactly and that's the that's the new like even when they pulled out that was the first two few days and then it wasn't till jesse and then everybody else on ct was like no no no this isn't like what are you talking about they just gave back the money but it was like the narrative was so bad like oh dan bought a house because of because of the farcaster raise and stuff like that
so he gets funny it's like do understand that dick had his own money from working at coinbase before the ipo hello like people are funny it's it's it's it's it's
well it's it's i think it's it's engagement baiting dating because you get a lot of like even with like the deployer thing with me i got so many followers this weekend because people all of a sudden see me all the time like it's not it's not good or bad like i just realized that okay now i mean i didn't engineer that but essentially it's like you the people engineer that so that they get a lot of engagement bait people click on their profile they follow them and so there is a lot of that that happens and it does actually work
i did have that question for you really quick this happened and we happened that week we happened to be off so we weren't on that week so we didn't really talk about this but you and deployer had a little back and forth emily got involved as well there was a bet of some sort like a a gentleman's bet about okay so it was what was the bet exactly so that we understand
what happened here i got a little i got i got a little bit heated with meleger or how how you pronounce it yeah yeah we had i need yeah sometimes i need to stay off the i i think there are moments when ted was telling dan to stay off the forecaster yeah that that that that's definitely
one of those moments
everybody everybody needs a ted and i don't think dan listened to ted either so i don't think
we all have those moments where we where we engage and we're like we know we shouldn't but we get heated you know it happens
yeah it was definitely a moment and i think one thing that i don't like about the deployer launch of the poof token which i think they've taken off like offline i i i don't see any mention of it was that it's like the i i think i kinda like the sixth or seventh token in the last two and a half years sort of like in sequence and each token doesn't really tie back to the last token even though there's sort of like a promise that it will so that was sort of my take on like okay now there's a poof token but the bankr token seems to have a live and active community and they just posted that they had like 5,000,000,000 in volume and there's a ton of fees being generated so that's kinda that was my pushback it's like that that seems weird that now you guys are but then okay now they're they're like okay well why are you questioning his business strategy or whatever and so i think they would probably gonna
you were essentially saying you think it was gonna hurt the bankr token and that
was what your pushback was yeah i didn't okay yeah i didn't see the point to it because bankers seem to be doing really well and i feel like in a startup mode you have to give like a 110% to just one project to work well and the success rate think of like doing one project is like very small and then doing two at the same time seems very difficult now people might say okay well now you're doing poof and it's the same thing but poof is more of a speculative asset so i think it's not something that i'm gonna push as like a full on project
i get to know
so yeah it's kinda like if people want if the if the product people want a speculation i'll give you something to speculate on that's poof and then that'll benefit degen but it's not like gonna be some huge project got it degen's really the parent project so poof might be a cool experimental ground but anyway and then that can kind of bubble up into degen if something works there we don't wanna do a whole launch and like kind of do like this whole marketing push around something that's just for fun or something that we think is just like a one off but then it turns into something bigger i think that's been one of the things that i've been talking to mike too about is that he feels that i'm blocked because degen kinda had this big success and then now everything needs its own launch moment everything needs its own ramp up everything needs to be polished or at least kinda look like have a ui ux designer whereas back then it was kinda just me in my room yeah adding new things every week and so then the creativity was like much higher and so maybe with poof maybe that gives me a little bit of that like i don't really care was supposed to put things out there
it was an experiment yeah
yeah yeah so maybe that'll be like the experimental ground where i can be more creative and then maybe something that goes off and we can bring it into degen but anyway yeah with deployer that was sort of the issue then he kinda came back at me then i was like okay then i came back at him and so the or however you pronounce it was like okay let's do a 10 k bet if bankr gets to 50,000,000 market cap then you you'll pay 10 k you'll buy bankr for ninety days and i was like okay if not then you buy degen for ninety days and so obviously i lost the bet a lot of people i think were thinking i wasn't gonna yeah i wasn't gonna own up but so now so now i'm in it degen treasury owns bankr nice and i actually don't have any problem with the bankr ecosystem think actually they're doing like really well like on crypto twitter they have like such a great following so even some people in the whale group
i like bankr i like their team i like what they're doing and also i do like that they now have staking they're putting rewards back so honestly good timing for you
i'm i'm also i'm serious though with with groc money i don't know how that works is that a competitor to bankr or is it not really a competitor
you know that's a good question i don't think it is because two reasons i think that grok money first of all you need major kyc to even use it it's only available in the us and it's just sending money back and forth plus you will be able to like i don't even think you can yet but you will be able to like purchase things on the timeline maybe i don't even think they have that ready to go yet but bankr's a whole other thing like you've got bankr terminal plus you have the agents that run on twitter and farcaster that you can interact with if you're in bankr club and you can do purchasing and things like that on the fly in public but you can also use bankr terminal which is private so if you have bankr club which is like a membership you know annual membership so there's i think it's just a i think it's the earliest version of agent buying and okay being able to use the agent to do quick analysis and things like that and have it you know make purchases stop loss all those kinds of things that you can do on your own and it was the first really so i think you know that's what bankr is and then you've got people also building on top of bankr so that's similar to like the way people were building on top of degen so i think it's yeah
it's not the same as like no one's gonna as far as i know right now no one's really gonna build on top of x money i'm gonna guess because i'm gonna bet you that the apis to do it are gonna be pricey
yeah and it's probably gonna be really locked down so i think that's gonna be a lot more limited than something that's in crypto where it's more open you can build on top you can do things so that's how i see it i could be wrong because we don't really know what x money is gonna be until it until it be so we only know what it's doing right now right so don't think we know enough yeah
yeah i wasn't sure because all these token launches this weekend they were launching with payments going to the creators but i guess they're somehow converting it into maybe some usdc format and then sent or i don't know what they even use i i thought maybe it was like a crypto
native it's us yeah it's not i don't think it's crypto you know i think they're they're doing some they're probably doing some funky things with apis but like even the jack butcher thing was very straight up you're just sending him money yeah and then he's taking the transactions and just sorting through them and sending you an nft to your wallet because you were sending him $8 through x money putting your wallet your ens or your wallet address in the note and that was it so it wasn't like anything really complicated and he was just doing the sorting on the back end so i don't think we've seen enough yet to know really how competitive x money is gonna be with this but i think the biggest thing is like again right now only in the us it will be available in canada soon i think this week and a lot of kyc to just get it up and running
okay so it's very different yeah very different so i think that at least for the time being i don't see it as a direct competitor with something like bankr but and then bankr also use large tokens so yeah a little different i think there's just a meta i think x money with what people are doing with the fees going to
that's just a that's just a please bro kinda situation you know like they're they're just trying to get people interacting and and driving attention it's just a new way of getting attention to your token in my in my mind
yeah yeah it's what what's whatever is on the timeline and then you add a product or a token to it then it yeah it kinda goes viral on phone
and jack you know jack butcher is brilliant at that by the way brilliant
he's done it before i always find that interesting that like with the nft community they're more open to new collections and then not always asking like okay how does this benefit the checkmarks or whatever collection it doesn't
yeah yeah exactly separate thing
yeah i think that's a little bit cool but then you also have the collectible aspect that's art and so people are like okay this isn't a token token there's no art there's nothing to collect other than the price going up
and i think it's it's jack and he has a track record someone else could
someone else just couldn't couldn't get that same attention it's very specific to him and certain you know artists can pull that kind of thing but him in particular because he's had such a good track record on people speculating on that and really turning a pretty big profit so i think that's so it's just a new speculation method but brilliant because also a lot of people got like a free $15 from setting up their x money so it wasn't costing them anything so he was you know from his perspective marketing genius
kinda yeah
that's kinda how it is like with the banksy thing where he you know there was the painting and then it yes got torn up into shreds it's kinda like you got to
marketing genius
yeah yeah for sure for sure i wanna shift back really quick to pov there was a couple other things i wanted to just highlight real quick that you had shared recently i showed it on the website but you have this daily the daily pot and i won't show the video but you guys can this will be in our show notes and you guys can go take a look at it daily pot is one of our use most used pages on pov.co right now two reasons we think it works resolution at the top of every hour you win or you don't one market a day attention concentrates instead of spreading across the board next two weeks we're working on a new market type that keeps both of those without leaning gamblefy so this i was showing that so this is like the kind of the daily focus and there's just this one pov question is that how you've been kinda leaning with that
yeah so essentially it's the empty casino sort of thing what i like i kinda call like the empty casino problem so essentially with pov there's a lot of people creating markets and so there's like 2,000 or 3,000 markets and it's kinda like going to a casino there's a lot of poker tables they're all empty or a lot of slot machines more like the poker table analogy and so you need with markets you need other people to trade against or with and with poker you need other people to play with and so casinos have this problem with where also the casino is just empty and so they need to create different i don't know events and different sort of marketing propositions to like kinda bring people to the tables one other thing they also do is like they you know i didn't know about this started reading about this is they have people who sit at the tables and they're like like poker players or whatever and so they will fill up the tables with people that they pay to do so and so they create this feeling of fullness and so we're just kind of figuring out like okay we have like i don't know 50 a 100 200 daily active users depending on the day which are like betting on things or buying in the markets and but they're all spread out and so they're all buying into like one market or another market and so that isn't very fun so how do we bring them all to one table and so that's sort of the daily pot and the daily pot also has the resolution mechanism which is kind of like okay every time you buy into a market you get a ticket and then at the end of the hour you get you either win the pot or you don't it's random so there is sort of like this resolution of okay not only are you buying into this pot it's going up and or sorry the market is going up and down and you can sell into buying pressure if you want to or you can just hold and wait till the end of the hour and then you can earn i think it's like $33 right now because it's in eth so it changes a little bit yeah and so that was the idea and so and it also is bringing everybody to the daily pot at a certain point in time and so at the beginning of the daily pot at the beginning of the hour there's usually a good amount of activity then it kinda dies down and then at the end of the daily pot for whatever reason people are also sort of trading so right now it's kinda a little bit dead depends on the day at the beginning of the at 3pm poland time whatever it is in eastern time is basically when people are trading so we're trying to figure out
got about thirteen minutes left on this one looks like so
yeah this one is bad but but like at the beginning of the hour it was doing pretty good thursday there was like a market that did $18,000 worth of volume so we're trying to figure out like what is the mechanism that's bringing people on thursday but today for instance people aren't being brought in and trying to figuring it figure out like what's going on with some is it the question is it is it you know
somebody yeah
the creator so anyway yeah we're we're messing around with things we'll see where it goes this is sort like a longer term thing i might have to turn put on my like kenny hat from poidh because he's been so adamant about poidh from the very beginning yes and then finally vitalik posted about him yeah like
but we were just talking about that during the news we showed vitalik's bounty yeah
exactly so i think maybe the persistence you know maybe there's something in all of that i was looking at the poly market tvl and for the first four years they were like stuck they didn't have like yep almost like like barely anything until the two thousand twenty four election and then things really took off so i'm kind of wondering like there are those there's the short term games where it's like okay launch a token with grok money or whatever and that that will do really well this week and then there's the long term games like farcaster and maybe poidh and all these other maybe bankr and all these kind of things and so how do you figure out like this fine line of people wanna make money today they wanna speculate there's a huge like ct is all about speculation and then how do you also build for the long term and then even with farcaster it's more long term aligned but i think there was like a good amount of airdrop farmers and stuff like that
so how do you mix these two worlds and i think nick for one confirmation anytime i speak to him which is not that often
but anytime i do
get to yeah he he usually will tell me about like speculation and then the long term and like trying to mix those two but it's like how do you do it effectively so right obviously bankr is doing it pretty well because they have the token and then the staking now so maybe i have to take some kind of learning lesson from deploy even though i got into that argument with him so maybe there's i think farcaster had like a good amount of that too with sort of like all the different things in line with clanker i think clanker kind of brought that speculation but then dan and varun were removed from that they're like hey we're not really a part of this but you can do whatever you want with the platform so i i don't know i think i think there still is something with farcaster
we think so too so and we'll see i think we'll know more i think we'll know more once we see who the you know who the who the new boss is then we'll then we'll have a better idea
yeah i mean i have i think i think it's got it's gonna be like some big news so i think that's gonna be like really cool to see who actually gets it and then yeah i think that's gonna be big like i'm pretty sure and then
does pov have a pov doesn't have a mini app correct not yet
it doesn't but it i mean that only takes like a second so maybe we should do that i don't know how many people are gonna use it right now we we're having track you know trouble just getting traction with like the regular normal external wallet holder base
but you never maybe maybe something worth looking at especially so based on this particular post that you just posted a couple days ago new on pov this week follow other users preview profiles on hover new category sub navigation bar like messages and daily pot chat also considering bringing pov to robinhood chain alongside base for me like anytime you're adding more social in where you have a social graph already built into farcaster it might make sense i think it's worth thinking about at least
yeah think that's it's a small sprint because we have the website optimized for mobile too i mean it's not like super optimized but it works well on mobile so i think it's just about adding the wrapper in there
yeah
yeah i i think it's and then the wallet works maybe i mean that's a low lift i mean it takes like a day maybe max
seems like it'd be worth like thinking about especially or maybe wait out the week see what happens see who the new who the new boss is and then and then decide but or be ready to go either way you never know
might get a lot of attention once you know that happens you never know so yeah
i i think i think that's i i do think that is gonna be big news yeah that's gonna be that's gonna be good hopefully more people i mean i don't know i i what you know what is the thing that's gonna get farcaster to that next milestone and like dan was such a
that's a question
force yeah because people really believed in dan and then when the actual vc round got announced i feel like that was like okay now they have all these funding so this is gonna be huge so that yeah that was like the the the big thing who's gonna be like the next person that sort of does this and i think this this round this basically this acquisition could could be that so yeah it'd be cool
we'll see we'll see yep did we forget anything we talked about poof we talked about pov we talked about your little beef with deployer
which was very it was very amusing for the rest of us
i think i i think it but it's just entertainment at the end of the day it's it's something to some degree
did we miss anything else and then degen is sort of driving force behind all of this kinda hanging in the background really
yeah degen is the main thing that we wanna push yeah pov we wanna create like a long term product which is gonna bring in fees hopefully that's pov well pov is the main thing so either we keep pivoting so under under one umbrella essentially pov rather than creating new websites new designs logos whatever like do it under pov so keep doing pov proof we'll see what happens maybe it goes proof to zero maybe it goes proof to 10 you never know be nice and then that would be a nice buy pressure for degen and then also you know we could do a lot more with poof in terms of like listings and stuff but we'll we'll see what happens i don't know no promises but that could be a cool degen play on robinhood because otherwise i haven't seen a meme token be able to port their bridge to bridge to the chain and do well there it's it's there's been a few meme coins that i've tried and they've never been able to
announce anything it's i think it's just been very meme y you know they have a they have a moment they have a day they have a week and then yeah things kinda fade and that's pretty normal in meme going world but
to sustain over a couple years which is really impressive honestly
yeah i mean the good thing about degen is that the treasury i've just been i i think i've been a bit so one of the things i've been wondering is like should i just maybe not do a lot of these projects is to come back to rather than running as a huge company just run it from my room again so that's another sort of thing that i'm sort of thinking like downsize everything start you know running it from my room doing it like totally low like as low cost as possible rather because i haven't really seen too much return on investment from a lot of these marketing campaigns a lot of these big things so i thought those would do a little bit better in 2025 and and probably 2026 latter half two thousand twenty five and beginning of two thousand twenty six was doing more marketing which i didn't do any marketing in 2024 but you can just live off of the speculation right was like things going up and up but then once things sort of calm down you have to figure out okay like how do you actually
i think you also hit a bear market you know where nothing was really doing anything so it's kinda hard to tell was it you know the marketing or was it just the market
well yeah also base season is sort of over just to some degree right now so maybe there's a rotation back at some point hershey and brett which are the main sort of let's say meme competitors are at more or less the same place we are yep so it's we still are in like the top five tokens on base i think
yeah it feels like it was multiple things that just hit all at once you're right the base yeah the base of it all as well yeah
yeah but also but also i think one of the things i noticed was that i'm really i'm better at trading than i realized because i've been trading part of the degen treasury in like low risk i started super low risk and i went to sort of like lower risk sorry like a little bit higher risk stuff and i i actually haven't had i had one bad trade over a year and a half
wow that's pretty good
trades were actually yeah yeah so all these trade but it's mostly pretty safe like covered call options on ethereum or like winterview has a bunch of structured products you can use right which are zero risk to you as a client and they take on the risk which is kinda nice and so on 10/10/2025 when everything went there was the auto deleveraging event and basically everything went to like zero so then we actually made money on that day and so it was like a nice day so actually i i was sort of thinking downsize everything put everything into these treasury strategies that have been running pretty well and then just give everything back to the token and that might be better use case of money than marketing which is spending all the money that we're earning so that's one thing i was thinking about
i think long as you can keep driving attention it just takes more work from you essentially
because people just need to see you you know again like you're talking about kenny kenny's a posting maniac you know it's so you can be a solo founder at these at this time but you need your you need to make sure you're scheduling posts you're getting things out there you're you know there's a little bit of help that you need whether that's ai or a human or both but yeah you can definitely condense i think personally
yeah so i think that that's what's i'm i'm gonna start thinking about that for 2000 oh we'll see how far we go with 2026 yeah doing the strategy that we have messing around a little bit but then 2027 is probably yeah reevaluate yeah yeah and see where it goes but i'm still pretty happy i i mean i get to work at degen and it's been two and a half years where i when i started on farcaster into or when i sort of started this whole thing i was like trying to get money i was trying to get a 100 k from like all these different dows and things like that and now i can work on something that i want to so either way i'm super happy with everything and the community is still pretty good so i'm i'm happy with it
it was funny because when we were talking about venice ai and the vvv token i was like oh that has been a really good airdrop for me and then i'm like still not as good as degen like not even close like not even close i'm like that was a great airdrop bbb was a great airdrop doesn't even touch degen doesn't
yeah i think with with the degen airdrop i think maybe we airdropped a little bit too much and that was also causing a lot of self pressure downstream like yeah yeah maybe the initial one the first four months were great and then after that i think we could
that was when i was locked up so it didn't matter to me mine was all remember mine went to the wrong place so it was all stuck it was stuck for the first four months for me so i wasn't even paying it i didn't even have to do anything
anyway one one thing i think that maybe i could have maybe also done a better job of is lobbying dan and varun to somehow integrate degen as like a reward token because essentially they did yeah later on pivot to the wallet and then they did start they started doing rewards in usdc and a lot of people that i talked to were like they like the leaderboard they like the okay now this is a quality leaderboard they're somehow pruning all filtering all the the sort of low quality content or you know users and they're giving money every week to somebody and so this was interesting and so i wanted to may you know i maybe should have lobbied somehow or figured out a way to like been you know be that layer or be that you know x money layer for farcaster early on so now in hindsight i think like at at the time it's like okay now farcaster's happy because they're raising a ton degen is happy because the token price is going up like crazy and so there's no point to do a synergy because everybody's doing really well and so then but then when sort of like things are calming down i think that could have been a cool moment in 2025 maybe but then even then like base was really pushing farcasters so maybe that was like okay
well the other thing is we didn't know base was was exploring exploring a token so you also didn't know what was gonna happen there there's always like there's all these factors i was assuming that we'd see one if the clarity act passed it did not so my guess is they're having conversations to figure out if they feel what the risk level is i'm gonna guess that the lawyers are saying no and you know and also because of the switch back to coinbase wallet there's less i don't know less pressure to put a token out there so i don't know we'll see but i wouldn't be surprised if we do see one but i think if the clarity act had passed we definitely would have seen one it still could but it won't happen until after the midterms election so if it does it'll be december like early like late november early december but i don't know that it will honestly i don't we'll see okay but that would be i think that's the if you see the clarity act pass that would be the biggest indicator of we might see a base token but we'll see i don't know
i think dan was also saying at the farcon two thousand twenty i i i remember him or somebody else saying that at coinbase they didn't really believe in marketing doing marketing in a bear market they they didn't really like give them results they believed like in a bull market so i was also thinking that if a bull market came back right maybe that would be sort of like a good starting point but yeah you're right
through this yeah i think those things go together too i think those
yeah i think you're right i think we've got some interesting months ahead we'll see we'll see what happens
i hope so i hope the market comes back either either now is my take or you know there's so many thesis it's either ai bubble or you know all these people that essentially have their their stock locked up that once their token investing ends then in 2027 they start buying houses crypto and everything else or maybe my theory is also maybe once trump sort of leaves office which is causing all this chaos around the world maybe the chaos dies because the mac the macro is really bad yeah and that's causing a lot of issues for people to not wanna invest so maybe the new president does something about that maybe he doesn't i don't know but maybe that could another thing yeah yeah yeah so that that might
be a problem president we need a we need a young young i mean younger than 70 i'll take at this point
younger than 60 would be amazing because like you don't we need presidents who actually understand technology not like anyway that's a whole other discussion that
we could go on forever about that adrienne anything else you wanted to ask jacek before we wrap up
yeah yeah just trying to have fun with all of this no i mean i seriously am grateful to like nick from one confirmation for like taking it but i mean i even asked them like a week or two ago because i i know a lot of like projects are winding down giving back money so i was like you know maybe i should give them back their million because it's sort of like okay we have like 1.7 which we've earned from other like some of the the stuff i was talking about earning from the treasury i was kinda i asked them like do you guys want the money back maybe or something like i can do the solo off the other 700 k i need to know now because otherwise we're gonna eat into it and you know for other stuff so but he's they were like no no like if you still wanna do it then like keep doing it so like i'm super grateful to them because they're always just like you know just keep experimenting and doing stuff so i am happy to be in this position and be able to keep doing whatever and then also you know my daughter is now eight months like all like eight months so so then i have like the counterbalance where like if things aren't working out at you know degen slash poof or whatever then at least things are working out at home so it's i feel like that on ct you have people who are very entrenched and they they need this thing to win or otherwise it's kinda like their whole life and their project gets like destroys their life as well so i think i'm trying to like balance everything and
that's it's really nice to hear
good perspective that's really good perspective yeah gotta keep the life the life balance if you can do that that's that's where the real w is for sure
yeah yeah then at least you don't lose everything you're just kinda like i lost here but i won here and it's okay
yeah which is awesome that's so awesome this has been great we gotta do this more often i'm glad i'm glad that we worked this out and it's been really interesting to learn more i've been seeing what you're talking about in poof and pov but i really haven't dove in and this really helped me go okay i need to look at this more closely because some of these things are really fun so bought a little poof
grab a little poof you know things like that yeah
maybe i'll do a little 10 x yeah maybe i need to start some more drama on the timeline and then you know there's more to talk about
i'm not trying to
have it only when it happens organically then it works well like that was a very organic little little back and forth you guys had
forget right you can forgive it but like if you're gonna say like any of the intentional like i'm gonna start drama to get attention gotta i'm gonna unfollow you
no yeah i've i've actually tried for the last two weeks to not go on c t because like farcaster pop in because it's actually useful and interesting stuff now but on c t it's such like a cesspool and so i've stopped going on there because it just like it gets your like blood boiling like everything you see there is like engagement bait for like some like like there's little bit political but now it's like a lot of like who you follow is kind of the feed you get plus a little bit of some other stuff mixed in but it's like the ct timeline i think like now because the trenches are so low liquidity like even winter mute they've gone into equities because the liquidity in alts is so low the only thing like when i talk to them the only coins that they really see that they can actually make money off of is eth bitcoin hyperliquid and solana so those are the only ones and then everything else has gone so low like you can think about like even degen which was like one of the bigger memes or like the tokens right it's like token and utility meme and utility it it was like $300,000,000 of volume every day was normal and now it's come down to like 3 and that's every altcoin essentially even pudgy penguins they're very you know they they've gone down quite a it's not even market cap the volumes are down and the
volume is pretty yeah everything's been down yeah
that that's the tough thing because hopefully liquidity comes back so it's it's cyclical so
i i think it's just yeah it's just a matter of like seeing what happens next and yeah like you said macro is also playing a role in a lot of this with people risk you know derisking and yeah so it's it it changes and it feels like it changes every week so
hopefully let's let's hope the anthropic money comes in let's you know we gotta lobby those guys
we'll see we'll see
yeah come on come on you guys buy some buy some degen buy some degen with your ipo money come on amazing this has been so fun thanks jacek it's been great having you here
yes i did this morning
go to we'll have a link we'll have a link in the show notes but adrienne if you go to jacek's just go to his account mhmm you'll see he shared it in one of his posts and yeah you can just grab it right from there
it which right here
if you look at this post that yeah yeah we shared
which is starts with i dug into the first wallets it's from like a day ago you'll see poof is right there at the bottom linked right in go into the warplet as long as you you will need i think you'll need either usdc on robinhood or ethon robinhood to do the swap which you can swap from if you have ethonbase or usdc on base you can swap it to robinhood first and i think you'll need to do that and then it should work fine
yeah and i did it this morning in the warplet but i had some usdc on robinhood so easy for me to do so
did it swap for you great yeah
great the warplet is good by the way
slope built the warp warplet wallet like built the wallet and he was a crack dev like he still is he's just no longer on farcaster so the wallet you know for i know it has issues because they haven't done much continued development on it it's a good wallet
especially if good wallet yeah yeah yeah yeah yeah i don't know what they use under the hood like x or something but
it i do i think it's zero x
than most yeah
yeah i think it's it's really good and especially when they brought in new chains like it's been very pretty seamless so yeah so you guys can grab poof in the in the farcaster wallet d y o r n f a all the things you heard him talk you know
all the things we say but yes you can grab it if you're on farcaster you can use your wallet to to pick some up for sure and go check out pov i gotta do that
that's one thing i haven't done i gotta do it alright amazing amazing i do have to say one other thing but it's not not about you but somebody said somebody said this you guys really messed up the great platform by not dropping dropping a token on time just a reminder we are gm farcaster and we are not in charge of tokens that are dropped by farcaster so just
we're we're actually stream on the farcaster account also so oftentimes we get comments like that like telling us like things we messed up about farcaster
also are entitled to opinions and you may think that that farcaster messed up by not dropping a token on time i don't know what time was correct i don't know what their correct time was and people are also welcome to build their own social network and drop a token on time absolutely
true amazing
i do too i do too and i think social and crypto go hand in hand and you won't you will not change my mind on that point so i think he said
social is really important i think elon's doing like a ridiculously good job with x i'm really happy for that and i think i'm happy people are happy on x i'm happy to see people coming back to x but it doesn't change the fact that having like one entity in control over what people kind of see and and consume is could be problematic
it's just also hard to build on like i've tried some ideas on x a little bit like we have the pov bot where you can do at pov market and then like create a market and so it will create a market but it's just it's not really composable it's hard to do like farcaster took me like a day to like make a website and that was it like it like it's it's so easy because especially as a data person like you i could write some sql all the data was there and then neynar just aggregated into like tables it was perfect so yeah with that agree more like yeah it's as pay pay for api yeah sorry
like from a developer standpoint because we've been building we brought warpie over to x now so you can talk to warpie on x so we built all the gm farcaster stuff both on farcaster and and on x and then i also have my word a day app which was a mini app on farcaster token integration like super cool stuff and then you and and then i also tried to mimic that behavior on x and it is so much jankier harder it's like more cumbersome yeah painful to build on but it's also the user experience isn't as good so from a developer standpoint it's not even so much decentralized social but just the idea of like these promises of open like open network that you can build on top of like i'm way more interested in a farcaster style but then i just think from a freedom of speech type like and and changing i was talking about like the balance of power between users and a platform if you don't have like we trust elon because he does a lot of good for the world like i think he does has his vision of what is good for the world and puts that forth and i think a lot of the ways built with all of his companies like he's built trust over the years but he's still one person and he's still only one point of view so then there's still he still has a lot more power if you like his point of view great but if you don't you can't also like if someone can't also then build a new yeah ui on top of twitter data and also change the algorithms like it's there's still too much power imbalance
plus yeah plus i think they came i i don't i don't was it them with the first mobile app that was created by a third party dev and then they bought it or something i know reddit had that dynamic as well where they opened up their apis somebody built the reddit app which is now the reddit app and they bought it and i think the same thing happened with x so it shows that third party devs can actually build better experiences than the actual core team because they know it's not just about money it's not just about polishing the ui the ux and everything like that it's just about the core experience and then some people might just like a left wing view or a right wing view or they might like memes or whatever it is so yeah
i agree early on with twitter early on with twitter it was easy to build on top of yeah
it was open
yeah that's why it went viral and so i think i think even dan talked about that in his yes keynote or something around 2025
so yeah i don't know yeah it's weird so i think it it needs to be decentralized from the beginning and that gives you a big edge i think maybe it just needs kinda like that poly market moment where you need a it's just that one catalyst which all of a sudden tells me like okay now i understand why i need this why i need to own my i don't know identity or my post or my post can be free and they can be shared in different kinda apps so maybe we haven't had that yet because the two thousand twenty four election was the catalyst for polymarket there needs to be one for a farcaster maybe just about staying alive for the next five years or whatever and then something happens and people are like okay all of a sudden now i can post i don't know it would make maybe more sense in china feel like because they're super moderated and shut down so maybe that maybe a forecaster makes more sense there i don't know but that's interesting yeah yeah yeah
interesting yeah alright this has been awesome what a great conversation
congratulate this
is your your fifth time on june broadcaster yes i don't have your jacket ready yet but we're
gonna get like like new get one saturday night live has five timer jackets so adrienne wants to carry jackets
a we'd be like
him and bear market so we got we have no budget we got we got very low low budget these days but the minute i get i'm professor frees up my budget to make jackets then you're you're you're number one
we're living we're living off a word a day at this point i mean
using jackets we'll make we'll we'll make them poof and degen branded and they'll be yeah they'll be amazing
love it this has been such a good combo come back anytime we love having you here
thank you so much and thanks chad thanks chad for hanging with us but it's been so fun thanks jacek
we'll see you later
that was such a good combo loved it loved it loved it nope there he is he's yep yeah i got him
oh oh and he's gone i was gonna bring him back it sounded like he had something to say
no i think he was just trying to get out he's like can
can i leave we had that was such a
no we didn't just when
he was talking about the polymarket moment it just reminded me that's something i wanna talk about someday
alright well we'll put that for thursday next show we will be on thursday and i believe we're gonna be on a little bit later we're gonna start around 10:30 on thursday if that changes we'll let you know so be on the lookout just follow along follow g m farcaster on twitter or x or follow us on farcaster in the park in the g m farcaster channel for when our next show is but we will be on thursday and i believe we're gonna be on at 10:30 and we may have a guest joining us at eleven tbd next week we have splits abram from splits joining us on monday correct which will be great because we love splits we love everything they've been building so i'm really excited to chat with them
stuff they're building long overdue long overdue we love them anything else adrienne before we wrap we gotta go claim our poid i gotta go claim the poid now
yes that was really cool so yeah that's yeah let me know good luck with well good luck with the claiming let's see how that that process works
see how that goes see
i'll wait till i get the final version out with the show notes
i'll put the link yeah i'll link i'll put the link in with the claim yeah so alright everybody thanks for hanging with us big big big group of watchers today we appreciate you and we will see you again on thursday anything else adrienne
i think it's just if you wanna see so if if you missed what we talked about i think we announced it last week getting jacek on the show and he's been on before he's a friend of ours but someone wanted him to talk about poof because they wanted to learn more about what his plans were for poof how it relates to degen
zero x potus yeah
zero x potus so instead of just reaching out to us or or jacek he they created a poid bounty and said nounish prof do a livestream with jacek yeah answer these questions submit proof that it happened which it happened we and we have it on our platforms and the recording will go out shortly and and we get paid for it and that's super cool and yeah so if there's other people you wanna see us have as guests it's a nice i think poid as like a bounty platform is a nice way of kind of doing guest guest booking in public and yeah and showing people who
that was really cool yeah think it was really fun and both adrienne and i also bought some poof so there you go so a lot yeah there you go like at least half of this bounty went to buying some poof so there you go amazing
that's a great question
follow gm farcaster all we do is cover farcaster builders so and we have for three years so we cover anyone building anything interesting on farcaster we cover it we talk about it so you can sign up for our newsletter you get everything emailed to you or we also livestream two to three time used to be three times a week now we're at two but we livestream two times a week so follow gm forecaster and
and a lot of times what we're talking with builders they're not necessarily speculative so sometimes it's things like quiddly which is just building some really cool infra we talk about you know pixar didn't happen we talk about them a lot jacek just being on the lobby we love the lobby i love the lobby because i like trivia but cool things like that and also whatever mike is building at the time and that can be anything from prediction markets for a bird feeder to log a dog to you know wish where he was giving away gifts whatever mike's building m y k we're talking about it
yeah and then obviously there's been a lot of projects that started on farcaster first and we kinda cover them then they launch farcaster a little quiet right now because we're in a transition yeah quotient started on farcaster bankr bankr started on farcaster clanker started on farcaster degen started on farcaster so these were all projects we covered earlier before they kinda early early launched out
yep yep and we're awesome
and yes that's what we're saying yeah if you had been watching us in january 2024 you would have seen stuff about degen before it launched just saying so time machine just saying you would have seen clanker you would have see heard proxy a week after clanker launched you would have seen deployer i was talking about tnx 100 and not understanding what the heck ham was but also talking about it long before bankr
i still don't understand what ham is even though deployer was on our show explaining it i'm like okay i think peachy understood but maybe yeah
so we talk about a lot of stuff that happens on farcaster very early and then privy even jeez privy we had henry on really early in privy days so yeah we've talked about a lot of things very early on so just hang with us and you'll always you'll always hear what we hear first alright everyone it's been a long one today but what a fun one love having jacek on it's been a great one and we will see you on thursday so until then everybody bye bye
thanks for joining us for this episode of gm farcaster and thank you to all our partners and hyper sub supporters bringing this episode to you follow the gm farcaster channel for all the latest updates and add our mini app on farcaster and the base app until next time bye bye