Proper federation of favorites and boosts. You can’t see favorites from people outside of your instance for some reason, and boosts are sorta federated from people outside of your instance, but still not fully. Lemmy manages to federate upvotes fine, so it seems like it’d be possible.

The app I use (Moshidon) loads the actual favorite count when you open the favorites list, but it’s annoying I have to go through that step.
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Quoting Posts
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Higher poll option count. 4 is not enough. I’d say it should be at least 6, preferably something like 15 or 25.
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Higher character count per post. No reason for it to be capped at 500. I’d say the default should be 1500.

Also I think it’s hard for admins to change the default character count, so that should be made easier.
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I’d really like an algorithm (optional, of course). Getting content you want to see is really difficult. It’s hard to find people to follow, and when you do you get all of their posts in your feed, not just the ones you want to see.