Moxie (MOXIE) is a cryptocurrency within the Farcaster ecosystem. It is designed to reward users for their interactions and contributions on the platform. Moxie operates on the Base blockchain and uses a deflationary model where a small fee from each transaction is burned, reducing the total supply of MOXIE tokens over time.
The Moxie protocol involves several types of Fan Tokens that grant users access to special features and benefits within the Farcaster network. Users can earn MOXIE tokens by creating content, interacting with the platform, and completing specific actions. These tokens can then be used for various purposes within the ecosystem, such as gaining access to member-only features and participating in the community governance.
The protocol also includes a built-in reward distribution system, where rewards are automatically allocated to users and their associated Fan Tokens, incentivizing continuous engagement and participation.
