According to an analysis by Captain Zwingli (@ChrisJourdan), the growth of protocol revenue for the decentralized social platform Farcaster has significantly slowed down since it completed a $150 million financing round in May this year. Despite its valuation reaching $1 billion at that time, after cumulative revenues broke through $2 million on July 1st, they have only increased to $2.34 million over the past four months.
According to Dune data, Farcaster's revenue performance was particularly weak in October, with daily income exceeding $1000 on only four days and total monthly income just hitting $10,000. Compared with the growth trend at the beginning of the year, since its financing in May, Farcaster's revenue growth has slowed down and is still less than one million dollars so far.