Author: Poopman, Crypto researcher
Compiled by: Felix, PANews
Recently, Clanker, a meme token issuance platform in the Base ecosystem, has seen the emergence of many well-known meme coins, including CLANKER, ANON, etc. Crypto researcher Poopman published a comparison between Clanker and Pump.fun across various dimensions, detailed below.
1) Business model
PumpFun: A 1% transaction fee is charged during the bonding curve (using smart contracts and mathematical formulas to dynamically adjust token prices based on supply) + 2 SOL to be listed on Raydium.
Clanker: Due to the absence of a bonding curve, the #LpFeesCut function is used, permanently charging a 1% fee from Uni v3.
New upgrade: 0.4% of the fees are returned to the issuer, providing more incentives for token issuance.
2) Total revenue
PumpFun: A total of $363 million over 10 months. Currently 55 times that of Clanker.
Clanker: Revenue of $6 million to $7 million in 20 days. Some of the fees are in tokens, which exaggerates the revenue.
3) Token supply growth (7 days)
PumpFun: 4 million tokens, daily growth of about 1.3%
Clanker: So far, there are 4,768 tokens, with a daily growth of about 12%
4) Top 3 tokens issued
PumpFun:
Pnut: $1.1 billion
GOAT: $838 million
Chillguys: $490 million
Clanker:
Clanker: $83 million
LUM: $39 million
ANON: $33 million
Some key points:
Although Clanker has successfully led a large volume of Base transactions, it has not yet shown any favorable signals for Farcaster.
Early bot sniping seems to be an issue, but there is no clear/accurate data showing its toxicity.
The user base of Farcaster is limited, which may hinder the growth of token supply. However, this design can provide strategic value for Base and Farcaster.
The continuous increase in asset types on Base is key to unlocking the 'real' Base Season.
Related reading: Clanker remints Ethereum ecosystem meme glory? Analysis of AI Agent token issuance applications on Base chain
