Platforms like Orb, Firefly, and especially Farcaster generate revenue mainly through swap fees, which effect…

Platforms like Orb, Firefly, and especially Farcaster generate revenue mainly through swap fees, which effectively turns the product into a kind of DEX. If you look at Farcaster, posts, content, comments, and quotes are not really the focus anymore. The main narrative becomes: “this token launched, go swap it.” Content itself becomes secondary. Now compare that with X. The product is content-focused because it earns money by placing ads between content. And the better the content is, the more engagement it gets, which leads to more ad impressions. So there is a natural incentive to improve content quality. I think this is one of the main reasons why “decentralized social media” has struggled to truly scale so far.