Farcaster founder clarifies: the protocol is operating normally, Neynar will promote developer-oriented development

RektRecovery · 2026-01-23T01:34:11+00:00

Farcaster founder Dan Romero clarified that the protocol has not been shut down and is operating normally, with future development focused on developers. The project has received venture capital support, and the user base is stable. At the same time, he announced a full refund of the $180 million financing and explained the source of the funds used for purchasing property.

RektRecovery

2026-01-23 01:34:11

Abstract generation in progress

【Blockchain Rhythm】There have been recent rumors claiming that Farcaster will shut down soon. In response, Farcaster founder Dan Romero issued a detailed clarification. He explicitly stated that the protocol is currently operating normally and has not shut down, and it will continue to operate in the future.

According to data, Farcaster had approximately 250,000 monthly active users in December 2025, and on-chain, there are over 100,000 funded wallet addresses, which fully reflects the protocol’s activity level and user base.

Romero revealed the future direction of the project. The startup company Neynar, responsible for operating Farcaster, has received venture capital support. The plan is to steer the protocol towards a more developer-oriented approach, rather than terminating or downsizing the project.

Additionally, Romero mentioned his other project, Merkle. The team has decided to fully refund all investors’ $180 million in funding. He stated that over the past five years, the team has been committed to being a responsible manager of investors’ funds.

Regarding some external speculations, Romero also clarified. He said that the funds used to purchase property came from Coinbase IPO proceeds, not from other sources.

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MetaverseHobo

· 3h ago

Rumors are back, and this time the shutdown theory has reappeared—completely nonsense. Although 250,000 monthly active users isn't explosive, it's at least a solid foundation. I think the developer-oriented approach is a good move. Merkle is fully refunding investors, Romero is playing his cards well, showing goodwill. By the way, after Neynar took over, can Farcaster come up with a new trick? Worrying. Shutdown rumors are everywhere, but the data is right there—face-slapping, everyone. The dev-first approach is pretty good, much better than being dead.

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0xLuckbox

· 3h ago

It's another false alarm; every time, I have to debunk it again. Seeing 250,000 monthly active users still growing, there's truly no sign of cooling off. Neynar's recent funding round is also quite solid. I like the developer-oriented approach; it's much more reliable than burning money to grow users. The part about Merkle's full refund was unexpected; luckily, they have a conscience.

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PessimisticOracle

· 3h ago

The rumors of shutdown are back again, but this time the clarification came quite promptly. 250,000 monthly active users and 100,000 wallets, the data is right here, indicating that people are still using it. Neynar has adopted a developer-first approach, and I actually agree with this idea. Instead of aggressively competing in the social track, it's better to focus on developing the developer ecosystem, which is much more stable. Merkle is offering full refunds to investors, which is quite interesting... but what about the details? Why did it stop halfway through the announcement?

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TideReceder

· 3h ago

Rumors are believed as soon as they come out, which is really a bit ridiculous. Isn't 250,000 monthly active users enough to prove the point? --- Developer-oriented? That's the right path, more important than anything else. --- Shut down? Bro, are you joking? They're doing just fine. --- Neynar has funding support, it feels like something interesting might happen later. --- Another wave of FUD. It’s always like this. If you don’t believe it now, you would have believed it earlier. --- 250,000 monthly active users in social protocols is actually quite a lot. Don’t underestimate this data. --- Merkle is also fully refunded. This move is a bit interesting, at least they’re showing their attitude. --- I like developer-oriented projects more. It’s much more reliable than those who hype concepts every day. --- Is it true? They keep shutting down every day, but they’re still here running.

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