Article source: IOSG
Author: Poopman, IOSG Researcher
Compiled by: 0xjs, Golden Finance
1. Business Model
PumpFun: Charges a 1% transaction fee during the joint curve + 2 sols to be listed on Raydium.
Clanker: Due to the lack of a joint curve, it permanently charges a 1% fee from Uni v3 and uses the #LpFeesCut function.
New Upgrade: 0.4% of fees will be returned to the issuer, providing more incentives for token issuance.
2. Total Revenue
PumpFun: 363 million USD in revenue within 10 months. Currently 55 times that of Clanker.
Clanker: 6-7 million USD in revenue within 20 days. Revenue is exaggerated due to some fees being in tokens.
3. Growth of token numbers (7 days)
PumpFun 4 million tokens, daily growth of about 1.3%)
Clanker currently has a total of 4,768 tokens, daily growth of about 12%
4. Top 3 market cap tokens
PumpFun:
Pnut - 1.1 billion USD
GOAT - 838 million USD
Chillguys - 490 million USD
Clanker:
Clanker - 83 million USD
LUM - 39 million USD
ANON - 33 million USD
Some key points:
Although Clanker has successfully guided a large volume of transactions 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 token numbers. However, this design can provide strategic value for both Base and Farcaster.
The increasingly diverse assets on Base are key to unlocking the 'real' Base Season.
