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A clear trend has emerged recently in the Web3 social circle—users are migrating en masse to decentralized platforms.
Farcaster performed the best in Q4, surpassing 2 million users and generating 500,000 posts daily. After migrating to Polygon zkEVM, Lens Protocol's monthly trading volume tripled. The Nostr protocol ecosystem is also quite lively, with over 50 clients now available.
What is driving this wave of migration behind the data? Statistical analysis is quite interesting—among users coming from Twitter, 45% mainly value content ownership, 30% are attracted by censorship resistance features, and 25% are drawn by economic incentives. It seems that people are not just switching platforms but have new expectations for existing social interactions.
Compared to traditional social platforms, decentralized social indeed makes a strong impact on user engagement—likes, comments, and shares are 80% higher. However, the cost must also be acknowledged: user acquisition costs have tripled, which is a significant figure for project teams.
The most interesting development is that network effects are truly beginning to manifest. The migration rate of followers for top creators exceeds 60%, indicating that once key opinion leaders join, their follower communities will follow suit. This is a signal of reaching a critical point.