"We pooled money together in a hat and used it to farm stablecoin yields. We will do anything for 5 dollars."
Scroll ↓
The harvest
48 real Fridays. One green hat. 335 of you, give or take.
3,743
Real taps
$24,083
USDC harvested
335
Unique hats
343
Days active
$6.43
Avg per tap
$6.70
Avg w/ phantom
May 22, 2025 to May 8, 2026. 48 real Fridays plus one test tap on May 15 that paid out 14¢ a hat (we're not counting that one). Average tap paid out $6.43 if you ignore the phantom drops, $6.70 if you don't — those 5 sus-tap recipients averaged $202 a piece and dragged the mean up almost 30¢ on their own.
Most loyal farmers
Showed up for almost everything.
48 normal weekly windows (skipping the test tap and the phantom ones). 0x0357…508F caught 47 of them. One missed Friday in the entire year. Ties get broken by total earned, in case the chat needs receipts.
Streak season
31 weeks without a miss.
From May through Christmas, 0x0357…508F caught every Friday window that opened, including the 3 AM ones. Whoever this is, your notification settings are immaculate and your phone never died at the wrong time.
Was the hat worth it?
$100 in. $325 out.
The hat cost $100. Across 48 Fridays of stablecoin drops, a hat that caught every harvest walked away with $325.79. Most hats caught a lot fewer.
Perfect tapper · 48 of 48
3.26x
$325.79 paid out on a $100 hat. The theoretical ceiling. Nobody actually hit it.
Top actual tapper · 47 of 48
3.21x
$321.24 to 0x0357…508F, the one wallet that came closest.
Median tapper · ~7 of 48
0.45x
~$45 recouped of the $100 hat. Most farmers didn't break even on the weekly taps alone.
Math: total emissions ÷ $100 hat. No compounding possible — the weekly drops sat in your wallet, you couldn't buy more hats with them. The $ESP airdrop isn't counted here either, but it lands on top.
The hat decides
The tap doesn't sleep. So you didn't either.
The window was random. Nobody got a heads-up. Here's when the taps actually landed, in Pacific Time.
Hour of day · Pacific Time
4 PM PT caught the most hats (541 taps). The 3 AM PT spike (389) is the one that lives in your group-chat trauma.
Biggest harvest
July 11, 2025.
$1,399
One Friday paid out $1,399.14, split 111 ways for $12.60 a head. The biggest pot of the year by a comfortable margin. This is the week someone screamed "100th tap LFG" in chat and meant it.
Smallest real harvest
27 hats.
November 14, 2025. The pool paid out $352.80, split 27 ways for $13.07 a hat. The fewest tappers of the year by a country mile. (The Argentina-bound farmers were already packing bags for Devconnect.)
P.S. The actual smallest tap of all time was May 15's $5.17 test run, paying 14¢ to 36 hats. We're pretending that one didn't happen.
The world tour
The hat went everywhere.
Weekly participation and tap size, with the crypto-conference circuit dropped on top. The dips line up suspiciously well with airports.
Hats tapped per Friday
Avg $ per hat that Friday
EthCC Cannes · Jul 3, 2025
57 hats tapped. At least one didn't make it home (per chat: "Misplaced mine since EthCC in Cannes").
Token2049 Singapore · Oct 2, 2025
115 hats tapped during Token2049 week, tying the year's all-time high (the other 115-hat week was Sept 19, the same weekend a different hat went swimming in Tahoe).
Devconnect Buenos Aires · Nov 17–21, 2025
27 hats tapped that Friday. Lowest turnout of the year. The rest of you were either on a plane or already in Buenos Aires.
Espresso $ESP TGE · Jan 18, 2026
The other windfall for owning a hat: every farmer qualified for the $ESP airdrop. Free tokens on top of the weekly stablecoin tap, no extra capital required.
ETHDenver · Feb 26 – Mar 1, 2026
58 hats tapped on the Friday inside ETHDenver week — one of the lighter Fridays of Q1, with the crew scattered across panels and side events.
EthCC Cannes · Mar 30 – Apr 2, 2026
The April 2 tap landed on the last day of the conference. 59 hats tapped — well below the year's average, with the rest of the tribe still in Cannes.
In-flight harvest · 37,000 feet
"Successful harvest 37,000 feet in the air ✅🌾" Whoever you are, whichever flight. You raised the bar for the rest of us.
The phantom taps
When the alert went to a handful.
Two mid-cycle Fridays where the notification apparently fired to 2 or 3 hats and nobody else. The chat lost its mind both times. ("Same 2 hats got that tap..?", "Need a way to ban them", "@bobsxyz it happened again.") These taps are not in the charts above — the bars track the 48 regular Fridays only.
The "sus tap" incidents
The app screenshot someone posted in chat the morning after the March 5 sus tap. $510.40, 3 farmers. Two of those three never reported in.
Absolute theoretical max
$746.32
on a $100 hat · 7.46×
If a single hat had caught every regular Friday ($325.79) and both phantom taps ($170.13 + $250.40), this is the ceiling. The actual top wallet hit $321.24. The sus taps alone would have more than doubled it.
Hat in the wild
Spotted everywhere a phone could find NFC.
Pets, plushies, the Eco office, a deck somewhere tropical, a hat held over an empty field. A year of the hat getting its picture taken.
Even the cat tapped.
Hat survived the dachshund.
Hat at the Eco office.
Tap with the TV on.
Tap on the deck.
Even the plushies tapped.
Hat held over the field.
In memoriam
The hat at the bottom of Tahoe.
September 22, 2025. Chat dispatch from @jayhinz: "tbf i was in a canoe."
The on-chain forensic match
Best-guess wallet based on a tap cadence that ends the night before the Tahoe weekend:
"Do we think mine still works at the bottom of Tahoe?"
9 weekly taps from May 15 to Sept 19, 2025. Then nothing. 233 days of silence and counting. Somewhere under Tahoe, a chip is still waterproof and very, very alone.
In their own words
The lore of the hat.
I am my hat. My hat is me.
Hat has strongest PMF in crypto.
The hat made it to network school in Malaysia.
Successful harvest 37,000 feet in the air ✅🌾
I sacrificed my sleep 😭😭
the way @bobsxyz has us all scrambling on Fridays must be studied
I jumped naked out of the shower for that false alarm
Best 3 dollars of my life
tap for ipa on tap
My hat is manky as it's become my default hat and I'm ALWAYS wearing a hat
The hat rules my life on frodays.
Imagine being the guy with a hat on at the dentist just to not tap.
The Final Tap.
May 15, 2026. One window, 24 hours wide. $10,000 in the pot. No notifications, no excuses, no mercy. Thanks for the year, hatters. 🎩
Real thanks to Bobby, the Eco team, and Propaganda for shipping this together. An NFC hat as a yield-bearing claim ticket is the kind of dumb idea that only works because someone builds it and then runs it for 49 Fridays without breaking. They did. We tapped 3,743 times.
