Farcaster Pro's "Golden Shovel" debut will pay off, and what other airdrops are on the way?

Original author: KarenZ, Foresight News

This week, Farcaster sparked community discussions due to its limited edition NFT and ecological airdrop expectations for its Pro subscription service. The first 10, 000 Pro subscribers can receive limited edition NFTs, and the value of the income of the first 500 claimers in the PROCOIN token airdrop reaches up to $700, which is about 6 times the subscription cost ($120), which makes the Farcaster Pro subscription considered by some users in the community to have the attribute of a "golden shovel", forming a combination effect of "limited rights + potential airdrop". There are already users in the community who have discussed the analogy between PROCOIN and Degen.

The Farcaster Pro subscription requires a fee of 120 USDC or 12, 000 Warp per year in the mobile app. According to Dune data, new subscriptions have slowed significantly after the number of Farcaster Pro subscriptions exceeded 10,000, and the total number of subscribers is now 10, 894.

In addition to PROCOIN, what other airdrop opportunities are available for Farcaster Pro users, especially the first 10,000 subscribers? How does the future roadmap of Farcaster Pro be planned?

50% of the total supply of PROCOIN airdrop

May 29, Beijing time, Farcaster ecosystem developer @mjc 716 announced the launch of the PROCOIN token and regarded it as a community-led governance token for Farcaster Pro users. PROCOIN is a targeted airdrop to the first 10, 000 subscribers of Farcaster Pro. According to the rules, the token transfer function will be opened after 500 users claim it, and the method of receiving it is to quote the relevant post and attach the text "Ratifying @procoin governance".

Regarding the tokenomics design, PROCOIN airdropped 50% of the total token supply to the first 10,000 subscribers of Farcaster Pro, with another 50% deposited into Uniswap V4. LP revenue will feed back to subscribers, forming continuous revenue. In addition, the first 500 token claimants will receive approximately 5x the allocation, and subsequent claimants will receive 42,105 PRO tokens. PRO's market capitalization rose to a maximum of $3.5 million around 10:00 today, and its market capitalization fell back to around $2 million at the time of writing. This means that the top 500 token claimants can sell up to $700 or more. As of 12:56, 6736 Farcaster Pro users have claimed their tokens.

Regarding token utility, @mjc 716 sees PRO generation as the beginning of governance and coordination mechanisms for the entire Farcaster community. The 75 holders with the highest token holdings will be appointed Pro Councillors (Pro Councillors). Pro Trustees will have the privilege of posting in the upcoming Procoin Forum mini-app. The list of Pro directors will be dynamically adjusted, and a delegation mechanism may be introduced in the future based on changes in token buying and selling conditions.

10 K will be airdropped to Farcaster Pro users on June 4

alexmasmej.eth, founder of the on-chain short video social app 10 K (formerly Drakula), also stated that it will relaunch the 10 K Watch-to-Earn App (v2) on June 4 and will airdrop it to Farcaster Pro users.

Drakula was first deployed on Base, then left Base, and changed its name to 10K in mid-May and migrated to the Solana ecosystem. Founder alexmasmej.eth also released the Watchcoin token on 10 K. On the day of its release, Watchcoin's market capitalization rose above $80 million at one point, and then fell all the way, and its current market capitalization is around $8 million.

After Farcaster added support for Solana on May 23, alexmasmej.eth said it would have an interesting airdrop on Solana, and now this promise is about to be fulfilled. 10K will also upgrade its economic model to address bot challenges, with improved Creator Coin economics including:

1. Set a hard cap of $10,000 required for graduation;

2. Remove the 24-hour timer to prevent market value inflation;

3. Watching to earn points requires a small amount of purchase, etc.

cost to claim the viewing bonus is about $0.21, although 10 K indicates an imminent increase in transaction fee subsidies. The pre-sale model will also be open to everyone from application only. The future 10K will also support connecting to Farcaster.

Notably, alexmasmej.eth initiated a discussion on Farcaster, asking if the community supports renaming 10K to Watchcoins, hoping to further clarify the project's brand positioning through the name change, focusing on features related to video content, token incentives, or watch-to-earn.

Farcaster Pro Roadmap

Farcaster founder Dan Romero said, "Farcaster Pro is a key step in driving sustainability in the protocol. Raising large amounts of money from investors and then spending it is unsustainable – it's just tactics, not strategies. If the protocol can charge an annual fee that users are willing to pay, it can have a separate budget to support what is really important to the protocol, without relying on any single company."

Farcaster has raised a total of US$180 million, completing a US$150 million financing in May last year, led by Paradigm, with participation from a16z crypto, Haun, USV, Variant, Standard Crypto, etc.

Dan Romero said, "Currently, Farcaster has adopted a pragmatic and efficiency-oriented initial approach: collecting fees in a centralized manner and distributing rewards algorithmically. In the coming weeks, Pro subscriptions will move to an on-chain permissionless model. In the long term, Farcaster hopes to upgrade the reward mechanism to a block reward model closer to Bitcoin or Ethereum - the collection and distribution of funds is done entirely at the protocol layer."

Farcaster Pro's recent roadmap is as follows:

a. Launch on-chain contract/protocol upgrade for Farcaster Pro

b. Add an undisclosed benefit (to be launched in the next day or two)

c. Support 10, 000-character long Casts

d. Each cast can come with up to 4 images

e. Support for free Pro subscription function - May support monthly gifts (such as $10/month)

Dan Romero emphasized that in the future, all Farcaster features will be available to all Pro subscribers, regardless of whether they own NFTs or not. Dan Romero emphasized that Farcaster Pro subscriptions do not increase user reach, visibility, or returns.

The goal of Farcaster Pro subscription revenue is to maximize protocol revenue – all revenue will be used to reward creators and developers. Farcaster will balance the reward distribution over the coming months or even throughout the year to avoid a one-time significant spike in rewards. The reward pool will increase next week, but it will not increase the full amount of Pro subscription revenue.

Conclusion

Farcaster is regaining the community's attention with its new business model, exploring the sustainable path of decentralized social networking through a combination strategy of "subscription + mini app + wallet components + multi-chain support". The "golden shovel" attribute of Farcaster Pro is reflected in three levels: the

• identity scarcity of the first 10,000 subscribers: limited NFTs lock in early rights;

• Ecological returns: high returns and governance rights for community airdrops;

• Promote the sustainable development of the protocol, ambush potential airdrops of Farcaster in the future, and accumulate future ecological value-added possibilities.

Farcaster Pro limited edition NFTs are not the end point, but the "trigger button" of ecological dividends, which is expected to bring more surprises and gains to users.

In addition to airdrops to Farcaster Pro users, the Farcaster ecosystem project is airdropping to ecosystem users. Farcaster said in its official announcement of new support for Solana on May 23 that users are advised to deposit $10 in SOL to increase their chances of participating in future airdrops by the Solana team.

According to Linda Xie, a member of the Farcaster team and founder of Bountycaster, circus.fun will also be airdropped to Farcaster users. circus.fun will launch Circus Protocol, while its social native token issuance platform, Jestr, will still retain its standalone product within Circus Protocol (JSTR tokens will soon be replaced by CIRCUS tokens). Jestr enables creators to deploy Solana tokens directly from platforms like X and Farcaster. circus.fun said it will later integrate deeply with Farcaster to make token issuance smarter, more contextual, and more practical using mini apps, embedded wallets, and social graphs to help creators launch, manage, and grow their token communities. circus.fun currently supports earning points by launching, buying, and holding tokens on Jestr to receive the CIRCUS token allocation (ending June 13).