The Humble Farmer's Digest 2/7
Your weekly dose of Crypto, DeFi, and more...
Hello Humble Farmers, thanks for reading!
This substack aims to share everything we’re paying attention to, including new launches, good farms, tokens, and much more. If any of that sounds interesting to you, please subscribe!
What We’re Watching
Farcaster
Over the past couple of weeks, we’ve seen Farcaster’s activity skyrocket seemingly out of the blue and currently sits at close to 30,000 unique accounts created.
While this uptick may be majorly due to the success of a few Farcaster-based meme coins, this growth is still worth investigating further. For those who may not be familiar, Farcaster is a decentralized social media platform, with similar functionalities as Reddit and Twitter. Users can select one of many clients built on top of the Farcaster protocol, but most of the recent activity has been happening on Warpcaster (a client developed by the Farcaster team). This app has native tipping, (via Warps), topic-specific channels, and frames (more on this in a moment), which has led to a large increase in functionality and UX.
More specifically, frames are an extremely interesting primitive unique to Farcaster, and enable anyone to create customizable applications within their posts. While frames have only been live on Farcaster for a few weeks, people are already using them to create games, NFT mints, sports betting, and even marketplaces for items. The possibilities are truly endless, and Farcaster seems to be at the front of the decentralized social wave.
After the semi-recent disaster of FriendTech, many people have been quick to shrug off the idea of decentralized social media, but we have to remember that these types of 0-1 applications take time. We’re not saying Farcaster is the end-all, but it does seem to be the most well-designed decentralized social platform to date with a growing plethora of users, a unique ecosystem of applications, as well as an active developer community full of experimenters.
As many of you may have seen, there have been a few token launches that have been the main cause of the recent attention on Farcaster. The main token, DEGEN, was airdropped to community members who had posted within the Degen Farcaster channel, and is used to tip other members within that channel. Since then, we’ve seen numerous other launches which has brought about a new wave of speculation on tokens built on top of Farcaster.
Unfortunately, there is no straightforward way to bet on Farcaster’s growth at the moment outside of a few NFT collections and meme coins. If you are interested in some of these more risky Farcaster plays, check out this thread which covers the current Farcaster ecosystem.
Aptos
With Eigenlayer’s recent raise in caps, we are starting to see just how diluted many of these EVM airdrop opportunities are starting to get. With this in mind, exploring ecosystems outside of Etherem and L2s could be a potentially lucrative bet for farming airdrops. Recently, we’ve been looking into Aptos and a few of the tokenless projects there such as Pontem, Econia, and Amnis.
On top of this, creating an on-chain footprint on these more obscure chains could help qualify for future rewards, as we’ve started to see teams airdrop tokens to users of specific ecosystems. We’ve also seen speculation on further rounds of APT airdrops (similar to Optimism’s multi-round airdrops) due to the fact that Aptos has such a large percentage of their token supply in the treasury. Again, Aptos and many of these native tokenless protocols may be extremely under-farmed similar to how Jito was, and it could be worth positioning some capital here for potential airdrops.
Farms of the Week
Upcoming Projects
Warden Protocol (Unlock the Potential of Intent-Based, Secure Cross-Chain Interactions)
KIP Protocol (Web3 Base Layer for AI)
Clusters (Omni-chain name service leveraging Layer Zero)
Talus (Next-gen rollup on Ethereum)
Henlo Tech (Next generation social app cumming to Berachain)
Artemis (Unleash the potential of decentralized sequencing. LST for the first decentralized sequencer network built by Metis)
BounceBit (The first-ever BTC native staking chain, early access live)
Good Reads
Framing the Future of the Internet:
Blockspace Futures and Derivatives:
ERC-404 Token Standard Explainer:
Has Uniswap Lost the Plot?
Investing in the Attention Economy:
Project Updates
Introducing M2, the First ZK Move-EVM L2:
stTIA by Stride:
Dopex x Orange Vault:
Pika V4 Upgrade:
JPEG’d Token Relaunch:
Clone Protocol Private Mainnet:
Passage on BNB Chain:
Interswap Incentivized Testnet:
Pike Mainnet Live:
Cashmere Modular Omnichain AMM:
Introducing SAX Trade:
Introducing Treasure Infinite Chains:
EigenDA x Arbitrum Orbit:
Convergence is Live:
Renzo Cross-Chain Restaking:
Introducing Prime Staked ETH:
Illumine on Mainnet:
Floor V2 is Live:
Avantis Mainnet Beta:
Stacks Bitcoin Builder Competition:
Sudoswap Live on Base:
Synonym Mainnet Live:
Range Launches LRTs:
Conclusion
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