Author: Poopman, IOSG Researcher
Compiled by: 0xjs, Golden Finance
1. Business Model
PumpFun: A 1% trading fee during the joint curve + 2 sols to list on Raydium.
Clanker: A permanent 1% fee from Uni v3 is charged due to the lack of a joint curve, using the #LpFeesCut feature.
New upgrade: 0.4% of the fees will be returned to the issuer, providing more incentives for issuing tokens.
2. Total Revenue
PumpFun: $363 million in revenue within 10 months. Currently 55 times that of Clanker.
Clanker: $6-7 million in revenue within 20 days. Some of the fees are tokens, so the revenue is exaggerated.
3. Token count growth (7 days)
PumpFun 4 million tokens, with a daily growth of about 1.3%)
Clanker currently has a total of 4,768 tokens, with a daily growth of about 12%
4. Top 3 market cap tokens
PumpFun:
Pnut - $1.1 billion
GOAT - $838 million
Chillguys - $490 million
Clanker:
Clanker - $83 million
LUM - $39 million
ANON - $33 million
Some highlights:
Although Clanker has successfully driven a significant volume on Base, it has not sent any positive signals to Farcaster.
Early BOT sniping seems to be a problem, but there is no clear/accurate data showing its toxicity.
The user base of Farcaster is limited, which may hinder the growth of the token count. However, this design can provide strategic value for both Base and Farcaster.
The increasingly diversified assets on Base are key to unlocking the 'real' base Base Season.
