Welcome to the 61 new people who joined the onchain letters community since Sunday!
I'm thankful for all 1330 of you and I hope everyone is having a great start to the week 🔥
If you're enjoying my writing, please share Onchain Letters with your friends in Crypto and join the /onchainletters channel on Farcaster 🤝
Note to Readers
Posting
Tuesday: Terminally Onchain updates & spotlights
Friday: Deep dive on strategy & new trends in crypto
Sunday: A list of what I minted throughout the week
After publishing 43 letters in the past 3 months, today is the first post where I'm going to be trying something different.
As you all know at this point, I've been working on my hypersub community Terminally Onchain the past few weeks.
One thing I've noticed is how strong the quality of people in the community are. Founders, developers, freelancers, hackers, investors, etc.
My goal with Tuesday's post is to share some of the alpha from these folks. It could anything ranging from:
New product updates & announcements
Access to test out products in beta
High quality job postings
Insight into onchain proposals in the ecosystem
These Tuesday posts are meant to curate the top opportunities, updates, and releases within the OP Stack & Farcaster ecosystems and deliver them straight to your inbox.
Farcaster has grown quite a bit in the last 6 months and it's tough to keep up with everything that's going on. Hopefully these weekly posts make it easy for all of you to stay up to date.
For context, I'm sourcing this information from a token gated form I made so that anyone in my hypersub can let me know if there's something they want to share with the all of you.
I'll be pretty selective about what community spotlights I decide to share so don't worry about me trying to spam a bunch of information. Every week, I'll pick 2-3 high quality responses from the form and share additional context from my end.
I'm open to any feedback on this format and excited to see what you all think!
Let's dive in 🚀
Airstack Trending Tokens API
Spotlight: @dawufi (Growth at Airstack)
- Trading frame
- Points leaderboard
- Trending tokens channel
If you've been on Farcaster recently, there's a good chance you've come across Airstack's new "Trending Tokens" frame.
Memecoins, especially those on Base, have started taking off recently with $DEGEN leading the squad.
The Airstack team released a Trending Tokens API to help developers integrate token functionality into their apps as well as provide key metrics on what's happening.
In order to better demonstrate Airstack's frame and token API capabilities, the team found a creative way to lean into the memecoin hype.
They built a Farcaster frame that allows you to see what the trending tokens on Farcaster are and quickly swap within the frame!
What's interesting is that for every swap you do, you'll earn Airstack points which can be later claimed for $DEGEN. Additionally, you'll also earn points if someone on Farcaster swaps on a frame you post.
Round 1 ended March 26th through which 300k $DEGEN was rewarded. And Round 2 will begin April 1st through which 3 million $DEGEN is up for grabs!
Make sure to check out Airstack's new Farcaster channel /trendingtokens to stay up to date on the swaps, points, and $DEGEN giveaways.
Metrics 🔥📈
Driven by enthusiasm for all things Farcaster and Frames, Airstack saw usage of its developer tools double in March to over 3 billion API credits consumed. It took Airstack 8 months to get to 1 billion in total and then reached 1.5b in Feb and 3b in March 2024.
20% of submissions at the ETH Global Frameworks hackathon built on Airstack this past weekend, including 5 of the top 10 overall projects
More than $75,000 was transacted by Farcasters in the Airstack Trending Tokens Frame in under a week
Over 5000 Farcasters have experienced the wonders of Airstack's AI Frame which is being upgraded weekly
Karma3 Labs is Hiring
Spotlight: @sahil (Core contributor at Karma Labs)
- About OpenRank
- Job Posting for senior data engineer
- Onchain feed
Karma3 Labs is working on OpenRank, an onchain reputation protocol.
Marketplaces and communities will be able to implement this decentralized community rating system so that users can better trust the apps they're interacting with in crypto.
In the web2 world, it was this concept of reviews and ratings that enabled peer to peer interactions. Think Uber driver stars, Reddit karma, seller ratings on eBay, and even website rankings through Google's page rank.
Right now, the team is working with several ecosystems such as Metamask, Farcaster, Lens, etc. to implement reputation algorithms.
Some use cases include leveraging a community rating system for app marketplaces like Metamask Snaps; ranking and recommendation APIs for Lens and Farcaster; personalized on-chain feeds for consumer apps and wallets; and reputation-based voting and governance.
The goal is to give developers the confidence that the onchain data they're working with and using within their application can be trusted.
A simple first example is identifying spam accounts on Farcaster and Lens by building out social graphs and analyzing interactions with other profiles.
The team just raised their seed round led by Galaxy Digital and they're looking to hire a senior data engineer who can help with building data pipelines to process data from different chains.
Check out the job posting here and the Karma3 Labs website here!
It was also so cool to see Sahil offer a 12 month subscription to Terminally Onchain for anyone with a successful referral. He didn't ask me, the team just went for it which I thought was amazing - great example of using the hypersub as a perk!
Additionally, the team is also offering a LilPudgy NFT, Solana Phone, and 5 years of storage credits on Farcaster! If you know any engineers that would be a good fit for the role, please reach out to Sahil and refer 🤝
Nouns x Farcaster Prop House
Spotlight: @rubinovitz aka JB (Founder of Tenfold)
- Nouns Social
- Nouns x Farcaster
Currently, there is a $300,000 prop house round that is funding the top 3 Farcaster client ideas for the Nouns community!
There's already over 20 proposals in the round and voting ends on March 29th.
I love this prop because it'll most likely lead to the first community based Farcaster client. So far, many of the clients we've seen have focused on switching up the user experience, adding niche tooling (i.e. lists, scheduling), or focusing on different media formats (i.e. images, links, videos). But we've still yet to see a successful client that's built around a community itself.
JB put up a proposal for a client his team is calling Nouns Social! After interviewing several folks that are active in the Nouns and Farcaster community, here's what they determined would be the best path ahead:
We build a Nounish Farcaster client with a Reddit-like feed where you can follow and mint Nouns community moments while generating a fee that gives back to the Nouns treasury.
They're already at a headstart and have built out a client in this direction before.
Check out the full proposal by JB and the Tenfold team here!
Only Nouns holders can vote but it's pretty cool to see all the different ideas people are pitching.
The one with the most votes so far is called Nounspace, a client inspired by MySpace.
At the end of the day, the goal is to improve communication and augment onchain action for the Nouns community. It'll be exciting to see some of these proposals come to life and how they change user behavior within NounsDAO.
That's all for today's post, hope you enjoyed the new format!
I'll be back in your inbox on Friday with a deep dive on a fresh new topic brewing in the space 👀
I hope everyone has a great rest of the week :)
- YB
