A decentralized social protocol on Ethereum’s Layer 2 Optimism, Farcaster, has seen a tenfold surge in daily active users since the launch of Frames, its embedded mini-apps.
Daily content creators (casters) rose from 2,400 to 19,100, while those engaging with content (reactors) increased from 2,700 to 25,000. Overall casts and reactions soared from 11,000 to 127,000 and 29,000 to 514,000, respectively, between Jan. 25 and Feb. 3.
Daily revenue skyrocketed by 1,500% to over $39,000, accumulating nearly $450,000 since August 2022. Frames, introduced on Jan. 26, enable interactive features directly within posts, driving the surge but also causing temporary performance issues.
Notably, Farcaster’s ecosystem boasts 5 million unique followers and 6 million reactions across 30,000 Ethereum addresses. This growth stands in contrast to declining activity on other SocialFi platforms like Friend.Tech, prompting questions about sustainability.
The significant increase in daily active users and revenue on Farcaster, propelled by the introduction of Frames, highlights its potential to redefine decentralized social protocols while emphasizing challenges in maintaining performance amid rapid growth.
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