Farcaster Launches USDC Deposit Rewards Program on Base Network
Farcaster’s deposit reward campaign surpassed its two-week target within 24 hours, halting new sign-ups and planning a new version for future participants.
USDC
Fact Check
The statement is directly confirmed by multiple primary sources. Farcaster's official X account (@farcaster_xyz) explicitly announced a 'Deposit Bonus' program, stating users can 'Deposit USDC on Base' to earn rewards. The posts detail the rules, including the requirement for USDC on Base and the weekly reward structure. This is further corroborated by a third-party news source, Bitget News, which reported on the launch of Farcaster's deposit reward campaign.
Summary
Farcaster’s deposit reward campaign on the Base network reached its target within less than 24 hours, prompting the end of new sign-ups by 6 a.m. Beijing time on October 15. Users who completed deposits before the cutoff remain eligible for rewards, and the platform plans to launch a new campaign version soon.
Terms & Concepts
- USDC: A stablecoin pegged to the U.S. dollar, widely used for transactions and deposits in blockchain ecosystems.
- Base Network: A layer-2 blockchain solution built on Ethereum, developed by Coinbase to offer faster, cheaper transactions.
- Decentralized Social Protocol: A blockchain-based social network framework that enables user ownership and control over data and identity without centralized authority.