What would be the best currency for Lens Network that would make most sense to the users especially for the newcomers?
Casting a vote for $GHO - decentralized and transparent. Embed a fiat gateway, so newcomers can easily purchase $GHO with their debit cards.
0But the best currency is the going to be the one that has the easiest on-ramp - off-ramp - that works the best with tax softwares - that is most likely to have a global brand. And most importantly that requires NO learning, that is used around all of web3 without wondering whether the thing is even liquid.
0Native ETH but the biggest problem for newcommers is on-ramp and not understanding why there assets aren’t available on any chain.
The answer might be different if we had - better flow then Coinbase. Even Coinbase is too confusing..
0stablecoin is probably best for newcomers. What would be even cooler would be if that stable coins was Glo Dollar (www.glodollar.org)) which is a stablecoin that funds public goods, fights extreme poverty etc. Depending on volume there could be an artist/creators fund set up where by using usdglo people are also helping create grant pool funds for the ecosystem (because Glo donates all its profits)
1A low-cost L2 coin that would allow crosschain between base and other chains to make it possible to Farm with frames on farcaster and tiping on Lens . I don't know how it would be possible.
0Looks like it would be $BONSAI
Has to be something fun that can fluctuate in value so people get hype about it
More fun to earn and tip volatile coins than tipping stables.
0probably something dollar based... but currencies are just brands and something dollar based is too boring for a brand. 😁
0Lucky to have the privilege of being late to this post, I think having a stablecoin like $GHO or $USDC is the wrong approach. If the currency is seen as anything but speculative then it won’t be used in large volumes - how many people buy art with Apple stock (yes it’s a strawman) (who tips on twitch with $tellman)? Tipping has never historically been in anything but speculative tokens in a dominant manner. $BONSAI, has proven itself and is well clearly the defacto currency EVEN with ETH, USDC, or W/MATIC as contenders proving my thesis. I think the only other contender is $DEGEN as @natem suggested; however, imo due to the heavy alignment and airdrop allocation to farcaster it would make no sense. I think advocate for > 1 median of exchange is foolish. There is plenty of data backing this throughout history as gold and silver have been the only assets to ever do this for a > period of time. Trying to manifest community through force feeding of another token for competitive theater seems fruitless. Volatility is a product of a speculative median of exchange which is what tipping tokens like “moons” on Reddit or “Bitcoin” are all about. No one treats them like real money and if you convince them it is the GDP of the economy will drop dramatically. I agree the most with what @punkess has said. I think something we could steal from degen is this notion of “bridge to buy”. Having a bridge where you can bridge an asset to Lens chain and get bonsai at the destination… maybe the fee goes towards subsidizing bonsai collects or LPs or other programs.
1Bonsai seems logical and accepted across lens protocoy, except you want to choose Zk since lens network future lies there.
1Would argue bonsai but just a stable coin and then let them explore. Offerings should still be available to use other tokens but for most they understand native fiat currencies best. Then let the piece meal, so anything stable works imo
1Anything but bonsai
That degen thing permanently ruined farcaster with its stupid top hat and the awful
Man only audience of sychophancy it attracts.If there is a native coin it imo should not be as divisive or have a weird brand, would prefer neutrality for longevity and composability outside of lens
6Truth is BONSAI is confusing for new users who don’t know much about Lens. Best solution is stables or ETH
0It should allow for more than one, the same way we’ve got now on Lens.
Propose 4 or 5 coins as able to be used and put it up for voting onchain so the Lens community could decide the main/default one.
“Driven by the community” 😉
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