Dan Romero, co-founder of Farcaster, has confirmed the protocol will continue to operate despite its acquisition by Neynar. The decentralized social networking platform boasts over 250,000 active monthly users and more than 100,000 funded wallets, demonstrating its ongoing relevance in the social app development space.
Romero addressed community concerns in a post, emphasizing that Neynar, a venture-backed startup that has been integral to Farcaster’s infrastructure, intends to guide the project with a focus on developers. In a significant announcement, he stated that the total funds raised by Merkle Manufactory, which developed Farcaster, reached $180 million, and plans are in place to return this capital to investors.
This decision follows five years of development, reflecting a commitment to responsible stewardship of investor resources. The leadership transition will see Romero and other team members depart to pursue new initiatives, while Neynar will take over the maintenance of Farcaster's essential components.