Finally got around to checking out Revolt Chat. It's basically a Free Code Discord clone. If they were going to federate with other chat servers, matrix is probably the best choice, given it's a room-orientated UX and needs a concept like Spaces. If anyone thinks that Revolt could be federated with XMPP, I'd be interested to hear some details on how that would work.
As you may have heard, Discord alternative Revolt has been renamed Stoat;
https://stoat.chat/updates/long-live-stoat
Stoat is designed as a centralised service. So in theory the operators could sell it to Discord, or Xitter, or anyone, at any time.
To be clear, they show no signs of doing so, and claim they're getting plenty of donations to cover costs. But this was true with Gitea ... until it wasn't. Devs with control over the project accepted VC money, leading to the Forgejo fork.
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