Guess it’s short for “federated reddit”?

Probably because someone started and then all the others saw it and went with it? I’d say it’s the same dynamics as if you’re the first one parking your car in a (not so obvious) no-parking zone, and you come back two hours later and there is a whole line of parked cars behind your’s. It’s kind of inevitable, especially after the second person did it…

And I mean it’s a bunch of instances named like this. But not an outrageous number… We have quite some diverse names for instances. And lemmy.something is the other super popular choice.

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I only know the one.