The Failure of Web2 Social Capital
For years, users have produced the most valuable commodity on the internet—attention—only to receive vanity metrics in return. A thousand likes on X or Instagram yield exactly zero tangible economic benefit for the creator, while the platform reaps billions. Piggybank, the Web3 mini-app born from the 'Propaganda' movement, is designed to end this parasitic relationship by implementing a robust system of on-chain social rewards.
Piggybank’s Engine: Tokenizing Proof of Influence
Piggybank is not merely a loyalty program; it is a fundamental restructuring of social value. Living natively on Farcaster and Zora, it operates on the principle of 'Proof of Attention.' Every meaningful social interaction—a high-quality cast, a viral reply, a strategic Zora mint—is measured, verified on-chain, and rewarded proportionally. These rewards aren't arbitrary points; they are tangible assets within the Propaganda ecosystem.
The mechanism ensures that creators are rewarded for generating scarcity and value. When a user creates influential content, Piggybank automatically tracks the engagement and distributes rewards tied to the network’s success. This system leverages the transparency of Layer 2 solutions (like Base) to ensure every incentive is provable and auditable. Users are now incentivized not just to post, but to post *meaningfully*, knowing their social investment yields an economic return.
On-Chain Incentives: The Shift from Vanity to Verifiable Value
The core of the Piggybank model lies in its integration of rewards directly into the user experience. Unlike centralized platforms that hide reward metrics behind opaque algorithms, Piggybank operates in the open. Web3 rewards manifest in several ways:
- The Attention Dividend: Successful engagement earns users a share of the value generated by their attention, directly paid out in the ecosystem's native assets.
- Fueling the Loop: Rewards received can be reinvested into creating more content, minting more NFTs, or participating in governance, creating a self-sustaining economic loop.
- Social Scoring: Your Piggybank balance becomes a verifiable on-chain representation of your social capital and influence, far exceeding the utility of a simple follower count.
The Propaganda Economy: A Sustainable Social Feedback Loop
Propaganda is building an ecosystem where loyalty, creativity, and influence are not just celebrated, but economically compensated. The Propaganda economy is designed for sustainability through scarcity and usage incentives. By centering the activity around verifiable actions on Farcaster and Zora, the economy naturally benefits from the broader growth of decentralized social infrastructure.
In this model, every reward paid out serves two purposes: compensating the individual and strengthening the network's foundation. As more high-quality creators migrate to Piggybank to capitalize on the Attention Dividend, the utility and scarcity of Propaganda’s native assets increase. Piggybank is effectively building the financial infrastructure for decentralized social networks, proving that in Web3, attention is finally an asset class worthy of being stored in a digital piggybank.