#钱包社交转型 After reading the news about Farcaster shifting from social-first to wallet-centric, I must say this case is worth pondering for everyone still mining in Web3.

From the shining moment when DAU surged to 100,000 in early 2024, to now falling back to 60,000 and having to rely on USDC deposit activities to barely maintain this number, this disparity highlights a harsh reality: pure decentralized social platforms simply cannot succeed. I have seen too many projects die this way — initially boasting wildly, successfully raising funds, and experiencing explosive user growth, only to see the excitement dissipate within three months, leaving behind only a few loyal fans.

What is the most ironic thing? Farcaster's last lifeline turns out to be the Wallet. The social dream that persisted for 4.5 years ultimately has to return to the old path of "trading and finance." Monthly income has dropped from its peak to $10,000, which is just telling us - without actual value circulation and financial incentives, any social network is just a castle in the air.

What I want to say is that this is a wake-up call for newcomers. Don't be brainwashed by the narrative of "decentralized social." Those new SociFi projects that rely on airdrops and FOMO to maintain their hype will eventually follow in the footsteps of Farcaster. Projects that can truly survive for a long time must find a high-frequency, high-value financial tool as their core, with social aspects merely being an exterior attached to the value flow.

The wallet sector is highly competitive, but at least there is a real demand. However, this also means that before choosing any wallet product, you must ask a key question: What pain point does it really solve, or is it just another bloated product with piled-up features? This is the key factor that determines how long you can survive on the chain.