Social Token (December 2024)

$SOCIAL was our first experiment in in-feed token distribution. We ran a "social airdrop" on Farcaster that took over the feed over the course of a few days with over 4000 users participating. We allocated 100% of token supply to an airdrop designed to engage the network and capture substantial mindshare.

We started with an airdrop allocation to a core group of Farcaster users who had subscribed and interacted with the Spotlight Friday newsletter. They were awarded an airdrop but could only claim it on the feed by passing along a subsequent airdrop to another user. In that sense, you could call the airdrop a social distribution chain. In many cases, users used the airdrop claim as an opportunity to shout out some heartfelt appreciation for the user they were crediting. It was a real lovefest!

After the distribution period, we set out to build a miniapp to continue to connect people. Over the next month, we built a live ephemeral chatroom where anyone could create a short-lived subject or event-themed room to chat with others in real time -- a contrast to the slower moving Farcaster feed. Later on, we built a live competitive card matching game with prizes. Both products had hundreds of regular active users.