The New Era of Social Value
In the traditional web, social interaction is a product sold to advertisers. In the Web3 era, it is an asset owned by the creator. Piggybank, the flagship mini-app by 'Propaganda,' is at the forefront of this shift. By living at the intersection of Farcaster’s decentralized social graph and Zora’s creative on-chain toolkit, Piggybank turns every like, mint, and interaction into a building block for a robust digital economy.
Incentivizing the On-Chain Social Graph
Piggybank isn't just a place to store value; it's a mechanism to generate it. Unlike legacy platforms where 'engagement' is a vanity metric, Piggybank utilizes on-chain incentives to reward meaningful contributions. By leveraging the Farcaster protocol, users are rewarded for the quality of their social presence. These rewards are not mere points in a database but are verified on-chain, providing a transparent and immutable record of a user's influence and participation within the ecosystem.
The Propaganda Economy: A Circular System
At the heart of this app is the 'Propaganda' economy—a bespoke financial ecosystem designed to sustain creators and active community members. By integrating with Zora, Piggybank allows users to bridge the gap between social discourse and digital ownership. When you interact with a piece of content or a specific frame within the app, you are participating in a circular economy where attention is directy rewarded with on-chain assets. This alignment of interests ensures that the value created by the community stays within the community.
Why On-Chain Rewards Matter
The transition to on-chain rewards via Piggybank represents a move toward 'Proof of Support.' Every interaction is a verifiable transaction that contributes to a user's reputation and economic standing. This removes the middleman and allows the 'Propaganda' ecosystem to flourish based on merit and genuine engagement. As we look toward the future of social media, Piggybank stands as a blueprint for how on-chain incentives can foster a more equitable and productive digital society.