📝 From the Editorial Team:

Welcome to Part 2 of OurNetwork's week-long Onchain Culture series. In Part 1, we covered social experiments on Farcaster, plus adjacent projects in AI and memecoins.

Today we're examining Lens' treasury and overall momentum as the social protocol looks towards going live with its V3. We’re also checking out interesting developments around a $50M token which allows holders to post anonymously on Farcaster, an under-the-radar game on Base which has generated $130M in player spending, plus even more.

Let's get to it!

Lens | ANON | Frenpet | OpenSeason | Rodeo

• Lens, a social media protocol designed to give users more control over their data and content, had its treasury reach a record value of $980,000. The protocol is upgrading from v2 to v3 — a change which will incorporate a new modular design featuring "Social Legos," tools which allow developers build for identity, connection, monetization and distribution on an open social network.

• In the coming weeks, Lens will be migrating more than 590K profiles and 27M publications.

• From the 27M+ publications on Lens, 5.4M+ are onchain.

• $ANON is a Clanker token that was anonymously launched by the “@superanon” account on Supercast —Farcaster client— on Nov. 14. Since launch, 76K wallets purchased $ANON and new clients & agents have emerged. For example, Anoncast is a privacy-centric client leveraging zero-knowledge proofs to enable holders with at least 5K $ANON to anonymously cast. Today, 169 wallet address have 2M worth of $ANON, which enables them to promote posts to @anoncast and X, or delete posts.

• With Anonfun, another client, holders with 2M $ANON can also anonymously launch coins by tagging Clanker. So far, ~50 coins (collectively ~$2.6M market cap) have been launched via Anonfun. As a creator itself, Anonfun has been generating 40% (creator split) of the 1% LP fees that Clanker generates for its tokens.

• In 3 weeks, Anoncast has amassed 11.2k followers on Farcaster & 14.7k followers on X where casts are cross-posted to. Users can also opt to reveal themselves at a later date using a complex secret phrase, taking credit for posts. There's also a new AI agent, @ainon_anon, trained on Anoncast. Daily casts on Anoncast however, are cooling.

• Frenpet is a game where players can own and grow with their "onchain fren". To date, over 42K players have played the game where they have spent an amazing total of $130M on in-game items. As part of the game's mechanisms, Frenpet has also distributed almost 500 ETH, $1.9M, to these players. Since July 2024, Frenpet has generated over 3.5M transactions, which makes up about 0.6% of the overall Base transactions.

• For the gaming stat hunters — "Attack" accounts for over half of the in-game actions, highlighting players' aggression with other pets. "Buy Item" (8.9%) and "Wheel Reveal" (8.8%) follow – the latter reflecting players' excitement for taking chances on points through a lottery-style mechanic.

• From an economic perspective, Frenpet saw over $100M worth of their in-game token ($FP) being traded since the game had launched. Over $4.3M in trade revenue were earned through taxes imposed on DEX trading of the $FP token. The proceeds will go to the devs and community.

• The first release from Fractional Uprising Studios ($FU), OpenSeason is a web3-enhanced death match game on the Epic Games Store. It’s a bit like Fortnite, but you play as your favorite characters from crypto and internet culture. The game has activated crypto communities, with three characters seeing over 100 days of total game play — Wassies, Karate Combat’s President Awesome, and Sanko.tv’s Freddie. Milady, a well-known NFT, may lag in total gameplay, but boasts a sweet kill/death ratio at 1.72.

• OpenSeason launched a new staking contract on Dec. 1, supporting in-game sponsoring of players using FU Studios' token, $FU Money. The contract has seen 473 interactions, with as much as 5.3M $FU staked at the highest point. Just under 3M $FU are staked as of Dec. 5, worth about $114K.

• Controversy erupted this week when some OpenSeason players were airdropped NFTs based on their token and staking activity. 156 received the "Shitty" variation, indicating the weakest of hands, while 66 got "Rare" or "1 of a kind" indicating Chad or Diamond Hands status. 816 were issued in total.

• Rodeo is simple — it's Instagram for digital collectibles. User friendly, crypto abstracted, and focused on aesthetic posts. And it's consistently generated ~$10-15K in monthly protocol revenue over the past few months since launch. Revenue comes from users minting posts at very low fees, which are then split between the protocol, the creator, and an optional referrer (tastemaker).

• Posts are at the core of Rodeo. Each post is an underlying NFT which can be minted by others. There's been a slight growth trend, and upwards of 95% of daily active posters are returning posters, each with an average of 1.3 posts per poster.

• The ratio of daily-active-posters to daily-active-minters shows that ~60% of posters also mint and support others by collecting their posts.