$PROCOIN token is a novel governance token for Farcaster Pro, a premium feature of the Farcaster ecosystem. Built on Base (an Ethereum Layer-2 blockchain) and powered by Neynar, $PROCOIN aims to empower professionals in the Farcaster community by establishing decentralized governance and coordination. Here’s everything you should know about this new token.
What is $PROCOIN Token?
$PROCOIN token is established to benefit Farcaster Pro NFT holders. Farcaster, a sufficiently decentralized social network, allows individuals to own their digital identity and engage across a vast array of apps.
$PROCOIN serves as a governance tool, enabling the community to shape the future of Farcaster Pro through initiatives like the Procoin Forum mini-app, where the 75 largest token holders, or Pro Councillors, have sole privileges to suggest and discuss community goals.
$PROCOIN Airdrop Details: Act Fast for 5x Rewards
The $PROCOIN token airdrop is open to all 10,000 Farcaster Pro NFT holders as an exclusive opportunity to claim tokens. To participate, users need to quotecast the official post (available at farcaster.xyz) with the words “Ratifying @procoin governance.”.
Tokens are distributed to Farcaster wallets with a twist: the first 500 claimers receive approximately 5x the allocation. Tokens are still not transferrable until 500 users claim, to allow broad community participation.
See the full chart here.
Tokenomics and Future Potential
With 50% of the $PROCOIN supply allocated to the airdrop and the other 50% placed in Uniswap V4 (untradable until the 500-claim threshold), the token is set up for fairness.
Notably, Spotlight, the project facilitator, is allocated 0% of supply, and all liquidity provider (LP) fees on Uniswap V4 are to be redistributed to Farcaster Pro subscribers. This community-first approach positions $PROCOIN to serve as a basis for decentralized coordination within Farcaster.
Why $PROCOIN Matters
$PROCOIN token is a step towards decentralized governance for social networks. With its innovative Pro Councillors system and upcoming features like delegation on the horizon, $PROCOIN is poised to reward substantial community engagement.
Claim your tokens and join the Farcaster Pro revolution. Don’t wait to snag the 5x airdrop bonus!
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