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Our dataset captures token transactions and social interactions from 574,829 wallet-linked users, representing 64.25% of the platform's user base. Our socioeconomic analyses reveal how different tokenomics design shape varying participation rates (7.6%-70%) and wealth concentration patterns (Gini 0.72-0.94), whereas inter-community tipping is 1.3-2x more frequent among non-following pairs, thereby mitigating echo chambers. Our causal analyses further uncover several critical trade-offs: (1) while most token rewards boost content creation, they often fail to enhance--sometimes undermining--content quality; (2) token rewards increase follower acquisition but show neutral or negative effects on outbound following, suggesting potential asymmetric network growth; (3) repeated algorithmic rewards demonstrate strong cumulative effects that may encourage strategic optimization. Our findings advance understanding of cryptocurrency integration in social platforms and highlight challenges in aligning economic incentives with authentic social value.<\/jats:p>","DOI":"10.1145\/3771565","type":"journal-article","created":{"date-parts":[[2025,12,2]],"date-time":"2025-12-02T20:07:03Z","timestamp":1764706023000},"page":"1-40","update-policy":"https:\/\/doi.org\/10.1145\/crossmark-policy","source":"Crossref","is-referenced-by-count":0,"title":["Beyond Single-Tokenomics: How Farcaster's Pluralistic Incentives Reshape Social Networking"],"prefix":"10.1145","volume":"9","author":[{"ORCID":"https:\/\/orcid.org\/0009-0009-8481-6405","authenticated-orcid":false,"given":"Wen","family":"Yang","sequence":"first","affiliation":[{"name":"Hong Kong University of Science and Technology (Guangzhou), Guangzhou, China"}],"role":[{"role":"author","vocabulary":"crossref"}]},{"ORCID":"https:\/\/orcid.org\/0009-0009-7106-9404","authenticated-orcid":false,"given":"Qiming","family":"Ye","sequence":"additional","affiliation":[{"name":"Hong Kong University of Science and Technology (Guangzhou), Guangzhou, China"}],"role":[{"role":"author","vocabulary":"crossref"}]},{"ORCID":"https:\/\/orcid.org\/0000-0002-3023-6431","authenticated-orcid":false,"given":"Onur","family":"Ascigil","sequence":"additional","affiliation":[{"name":"Lancaster University, Lancaster, United Kingdom"}],"role":[{"role":"author","vocabulary":"crossref"}]},{"ORCID":"https:\/\/orcid.org\/0000-0001-7152-546X","authenticated-orcid":false,"given":"Saidu","family":"Sokoto","sequence":"additional","affiliation":[{"name":"City St George's, University of London, London, United Kingdom"}],"role":[{"role":"author","vocabulary":"crossref"}]},{"ORCID":"https:\/\/orcid.org\/0000-0002-3519-7160","authenticated-orcid":false,"given":"Leonhard","family":"Balduf","sequence":"additional","affiliation":[{"name":"TU Darmstadt, Darmstadt, Germany"}],"role":[{"role":"author","vocabulary":"crossref"}]},{"ORCID":"https:\/\/orcid.org\/0000-0002-3437-8621","authenticated-orcid":false,"given":"Micha\u0142","family":"Kr\u00f3l","sequence":"additional","affiliation":[{"name":"City St George's, University of London, London, United Kingdom"}],"role":[{"role":"author","vocabulary":"crossref"}]},{"ORCID":"https:\/\/orcid.org\/0000-0003-3010-791X","authenticated-orcid":false,"given":"Gareth","family":"Tyson","sequence":"additional","affiliation":[{"name":"Hong Kong University of Science and Technology (Guangzhou), Guangzhou, China and Queen Mary University of London, London, United Kingdom"}],"role":[{"role":"author","vocabulary":"crossref"}]}],"member":"320","published-online":{"date-parts":[[2025,12,2]]},"reference":[{"key":"e_1_2_1_1_1","doi-asserted-by":"publisher","DOI":"10.1037\/adb0000404"},{"key":"e_1_2_1_2_1","unstructured":"Alchemy. 2025. 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