# $SOCIAL App Currently a v2 frame within Warpcast, the $SOCIAL app is **built to connect with friends and meet new ones**. We're building a constellation of social experiences — some financialized and some not — that are fun and expressive. Access the frame from our [channel page on Warpcast](https://warpcast.com/~/channel/socialtoken). Make sure to "add" the frame to save it for future use. **The focal point of the $SOCIAL frame is Chatroom**, which is an ephemeral group chatroom at its foundation — a place to hang out — but is soon to include features like voice chat, streaming, media sharing, multiplayer games and more. # $SOCIAL Token **CA**: 0x2ED49c7CfD45018a80651C0D5637a5D42a6948cb on Base See [here](/usdsocial-initial-distribution) for the initial distribution mechanics. See [here](/usdsocial-token) for the tokenomics. # Pixiedust Pixiedust is both the in-app currency for the $SOCIAL app and the $SOCIAL token's business model. You can mint, withdraw and redeem $PDUST from the Pixiedust page in [the frame](/). ### In-App Currency Features within the app are tightly integrated with $PDUST. At launch of Chatroom, users can "drop" Pixiedust, i.e., tip one another natively within the app. We'll be launching a series of creative social experiences with $PDUST at the center, including extending Chatroom into a multimodal experience. $PDUST is backed by real value. See more in Tokenomics section. ### Tokenomics *While there is some complexity under the hood, all of the following is abstracted from users.* Underlying $PDUST is a 50/50 $SOCIAL/WETH Uniswap V3 liquidity position. Each token represents a proportional supply of the position and will fluctuate in USD-denominated value according to the price performance of the underlying position. LP fees from the Pixiedust position are treated as follows * 100% of $SOCIAL will be burned * WETH will be used to fund development. Pixiedust can be acquired using ETH on Base. 50% of the ETH is converted to $SOCIAL and 50% is converted to WETH, before both are deposited as liquidity. Some takeaways: * whenever anyone enters Pixiedust, $SOCIAL is being acquired * whenever anyone enters Pixiedust, $SOCIAL is being burned via LP fees * context and experiences in the $SOCIAL app directly improve liquidity for the token
### Three Reasons Why Pixiedust is a Better Model * Pixiedust creates a symbiotic relationship between in-app utility and token marketability When users transact with value or simply want to hold value with Pixiedust in the app, the underlying position is generating liquidity and promoting accessibility to the token. Vanilla tipping tokens do not do this. * Pixiedust is naturally deflationary While we do not charge fees for using Pixiedust in the app, the very act of holding Pixiedust is deflationary because all $SOCIAL LP fees from the underlying position are burned. Vanilla tipping tokens do not do this. * Using an LP token as in-app currency provides a much more stable unit of account Most coins are simply too volatile to be useful as an exchange of value. While Pixiedust is still plenty sensitive to $SOCIAL price, it can be more accurately described as semi-volatile because the convexity of the LP token’s value curve cushions the position.


# $SOCIAL Initial Distribution 100% of token supply was distributed on the Farcaster feed by Farcaster users over the course of a week in November 2024, using a novel distribution primitive. 3454 unique users claimed on the feed and allocated a "social airdrop" to a friend. Via a combination of open market buys and LP fees, [Spotlight](https://warpcast.com/~/channel/spotlight), the studio behind $SOCIAL, has acquired 10% of supply as of Jan. 24, 2025. # Spotlight $SOCIAL is a project by the [Spotlight](https://warpcast.com/~/channel/spotlight) product studio.