🧵 Farcaster vs. Lens Protocol: A Deep Dive 🧵
1/16 🌟 The Crypto Space is buzzing! Farcaster has announced a $150M fund to boost decentralized social media! 🚀
What the hell is decentralized social media anyway?
2/16 💡Let’s rewind a bit.
The idea of decentralized social media isn't new. It all started with platforms aiming to give users control over their data and interactions.
It aims to give power back to the users.
3/16 Today, we're gonna focus on two big players:
Farcaster (FC) and Lens Protocol.
Both are making waves, but how do they stack up against each other? What sets them apart? 🤔
4/16 All the basic features and differences of the protocols have been outlined in the image.
But let's talk about a few things that are not so basic but, that actually matter to the users.
5/16 🚀 Farcaster is known for its deep and engaging conversations, it is a hub for meaningful interactions.
It recently introduced Frames, which are mini-apps within the feed that allow users to interact more deeply within the platform, enhancing overall engagement.
This feature opens up doors for endless possibilities.
Example: minting/buying an NFT directly from your feed.
6/16 Ever been bothered that creators on Instagram want you to go to the link in their bio to purchase something?
But now, imagine buying a product directly within the app without navigating away! That's possible with the power of Frames.
7/16 🎉 On the flip side, from my experience, Lens Protocol is very encouraging to creators.
It offers a unique way to set up rules for following and collecting posts, providing a customizable experience.
8/16 🎨 Lens excels in providing features like, users can set paid conditions for mirrors (reposts).
Features like this incentivize content sharing in a unique way.
9/16 Lens also has a feature similar to Frames called Open Actions, but it hasn't gained the same popularity.
One standout feature in Lens is its intuitive tipping function, allowing users to seamlessly tip to posts they love.
10/16 Okay, so I'm sure you must have heard about $DEGEN.
If not let me give you some intro.
DEGEN has been airdropped to the active users of Farcaster.
11/16 🚀 It is a community-created token that might look like a meme coin, but it's so much more!
It is designed to foster an engaging community and incentivize quality content.
12/16 🔥 While DEGEN has meme status culturally, its wider utility is resonating with the Farcaster community and Web3 users.
This token is all about building connections and boosting engagement.
13/16 Similar to DEGEN, Lens has its token $BONSAI, which was airdropped to active Lens users. Fun fact: I received 14.5k tokens, which I sold for around $1081!
14/16 This memecoin was launched by MadFi, a developer team focused on blockchain innovations, that has secured a $1M angel funding round for the token.
15/16 📈 Final thoughts: Despite having similar user numbers to Farcaster, Lens sees different patterns of engagement.
Users get likes and mirrors but often see little interaction in comments, creating a different user experience.
16/16 🚀 Nonetheless, the future is bright for both @farcaster_xyz and @LensProtocol .
Frames, DEGEN, and BONSAI are catching the eye of a broader audience.
Could they be the catalysts for the decentralized social media revolution?
and which one excites you the most? 🤔
Tagging some amazing people I know for some support and feedback.
@Jas_Jaski @optimizoor @Param_eth @0xngmi @AmeerNFTs @uttam_singhk @fluffyonEth @Hercules_Defi @hmalviya9 @tanmaytarte3 @satyaki44 @DeFiRaccoons @DefiScribbler @GeekJayant @brodar_Victor @Defisterling @apurvkaushal @scribble_dao @0xSalazar @poopmandefi @CryptoKoryo
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