🤩Fan Tokens

Bid and get exclusive benefits.

Farcaster Members are able to buy and sell Fan Tokens from the Moxie smart contracts.

There are 3 types of Fan Tokens available at launch:

Fan Token Type	Description
Member	Allows for access to features and benefits only to the Member's Fan Token holders. A portion of all rewards earned by the Member accrues to their Fan Token smart contract, benefitting all of their Fan Token holders.
Channel	Allows for access to features and benefits only to the Channels Fan Token holders. A portion of all rewards earned by the Channel accrues to their Fan Token smart contract, benefitting all of their Fan Token holders.
Network	Allows for access to features and benefits only to the Network-level Fan Token holders. A portion of all rewards earned by the Network accrues to the Fan Token smart contract, benefitting all of the Fan Token holders.

In the future Fan Tokens could extend to anything, including representations of real world assets.

Owning Fan Tokens allows for special features and benefits that can be integrated into any Farcaster experience.

Fan Tokens can only be purchased by Members on Farcaster from the Moxie Contracts and are unable to be transferred, traded, or sold outside of the Moxie Smart Contracts.

Person to person sales and transfers are not possible as per the contracts. Secondary markets are not possible.

Purchases & Sales of Fan Tokens happen through the Moxie smart contracts via:

1. Fan Token Auctions ("FTAs") in the Moxie Batch Auction Contracts

2. The Moxie Bonding Curves smart contracts

Moxie Fan Tokens differ in many ways from previous attempts at onchain "Creator Tokens." In particular:

• Moxie Fan Tokens are based on utility. Being a Fan provides for numerous benefits and developers are able to permissionlessly develop and offer unlimited more use cases.

• The Moxie batch auctions provide for fair pricing for the initial Fan memberships. Everyone buys in at the same price.

• The Moxie logarithmic bonding curves do not allow for rampant speculation.

• Only Farcaster Members can participate. There is no way for non Farcaster users to speculate and run up prices.

Transaction Fees

• Fan Token Buy transactions

  • The subject of the Fan Token purchase collects 2% fee on every purchase of their Fan Tokens.

• Fan Token Sale transaction

  • The subject of the Fan Token purchase collects a 2.5% fee on every sale of their Fan Tokens

  • The Moxie Protocol collects a 2.5% fee on every sale of Fan Tokens, which is currently set to be burned.

• There are no other transaction fees.