Original Title: Farcaster's AI Bot Token Launchers Original Website: papajams.eth Original Compilation: zhouzhou, BlockBeats
Editor's Note: This article will introduce several token launch tools on the Farcaster platform that allow users to easily create tokens and interact with the ecosystem to help long-term development and simplify token launches to drive community growth.
The following is the original content (for ease of reading and understanding, the original content has been reorganized):
Farcaster is a social network built on cryptographic technology, ranging from decentralized to node-based (centralized), as a distributed server network where anyone can set up these nodes to store and verify data.
However, it is not completely decentralized, as founders DWR and V, along with core developers (such as Horsefacts), maintain control through the de facto client Warpcast, driving platform adoption and development.
The first phase of tokenization on Farcaster began with POINTS, launched as a joke by iammatthias with slight community encouragement, and Six wrote a brilliant post about it.
Things quickly got out of hand.
Launching a popular meme is no task for the faint-hearted; people's expectations are a heavy burden, especially for something that was never intended to be a big deal. Many assume the worst without understanding the ecosystem.
Nevertheless, this was a successful preliminary experiment.
Therefore, creativity was fully unleashed, and the initial era of the tokenization community on Farcaster was born, many of which are still thriving today: HIGHER, TNX100, and DEGEN.
Telling their stories here is beyond the scope of the article; the end of the article will share some resources worth paying attention to their founders: deployer, Jacek, LGHT.
The early experiments in tokenization on Farcaster, supported by a decentralized social graph, achieved varying degrees of success and failure. Perhaps due to the large and active developer community, many attempts have a significantly higher success rate than similar projects.
Liquidity
"The existence of decentralized protocols requires a token" - a16z CTO Eddy Lazzarin
One of the key issues for the issuance of any new token or meme coin is ensuring users can buy and/or trade your token, effectively purchasing its future shares or interests. There needs to be a sufficient asset base to facilitate smooth and efficient trading; the successful tokenization community on Farcaster has addressed this issue in various ways.
For the 'ham' tnX100 token, liquidity is achieved through an NFT mechanism.
For DEGEN, liquidity mining incentives combined with external investment have built a strong liquidity pool.
HIGHER successfully attracted wide attention by crowdfunding liquidity before going live using party apps.
However, it quickly got out of hand as well (as of December 7, 2024, the market cap is as follows):
Market cap of $39 million
Market cap of $150,000
Market cap of $0
Market cap of $2 million
Market cap of $347,000
Market cap of $3.8 million
A serious attempt at first, ultimately fell into decay.
A system with asymmetric incentive mechanisms (for long-term outcomes), quickly rewarding bad behavior and slowly rewarding good behavior, leads liquidity providers to be eager to withdraw at the time of token issuance.
This phenomenon of 'pump and dump' is not unique to Farcaster but is an early manifestation of how blockchain allows speculative meme tools to gain universal, unrestricted access, and many architects are not familiar with the structural details of how to evade these tendencies.
BOTS Robot
Advancements in customized tuning of large language models (LLMs), combined with their integration into social networks, have accelerated exponentially, reducing usage costs and significantly improving usability.
"The initial LLMs were built about five years ago and only began mainstreaming about two years ago, becoming products people use, like ChatGPT, Claude, Grok, and Llama." - pmarca, ben & mark show
On the X platform, truth terminal built by AndyAyrey leveraged its KOL influence to elevate GOATmeme to a market cap exceeding $1 billion. The first similar project on Farcaster was Aether, built by Martin, which has since earned six-figure revenue (for example, through artistic collaboration NFTs) and reinvested the profits into the HIGHER community.
TokenBot, built by Dish and ProxyStudio, is an AI agent that exists in Farcaster's dynamics as a user account, designed to conveniently and frictionlessly create tokens by simply posting the token name, image, and code with the TokenBot tag.
This sparked explosive growth of tokens launched by TokenBot, recently exceeding 10,000 tokens, with total trading volume reaching $1 billion, fee income exceeding $7 million, and millions of dollars sent to the token creators.
Once users publish a token, the contract goes live and is tradable almost immediately. Everyone in the community can participate, allowing token types to range from pure memes to composable experiments, supporting anonymity with zksync and commercial uses, with a wide variety of options.
It has spawned many memes and projects, including but not limited to:
Anonymous Meta Projects: rumourcast.xyz, 33bits.xyz, anoncast.org, 66bits.xyz
Client Meta Projects: native.fun, supercast.xyz (superanon), streamm.tv, clank.fun
Among them, the main issue that triggered controversy with Clanker is that sniper bots can purchase tokens at an extremely fast speed at the start of token issuance, faster than most people (including its creators), and these sniper bots are likely to quickly sell off the tokens afterward.
Critics argue that this mechanism is not ideal; for example, Dan Finlay, co-founder of MetaMask, created the CONSENT token as an experiment to understand this process. The token surged to a market cap of $4 million within a minute of issuance, driven by sniping bots and automated behavior, and was then quickly sold off, leading to substantial profits for these bots.
Some also believe that sniping behavior can promote momentum and attract attention, and in the long term, if the meme properties of the token itself are strong enough, the short-term financial impact is not significant. The team is working on potential solutions to balance accessibility in fair distribution and the trade-offs of equal opportunity. This phenomenon has yet to be resolved throughout the ecosystem, and there is currently no perfect solution.
Larry
To combat sniping behavior, df and Stephancill created LarryBot, a token issuance tool that allows everyone to buy tokens at the same price within 15 minutes before going live (now changed to 69 minutes, fitting the meme culture without surprise). The only restriction is that within this time window, the relevant idea or meme must attract at least 3 ETH (as liquidity injection), and the participant's Neynar score must be above 0.9.
This experiment sets a higher threshold for the community, requiring tokens to meet certain conditions before graduating from their bonding curve and going live. By using the previously mentioned Party DAO contract, this mechanism locks snipers out of access to the initial token distribution while achieving robust crowdfunding liquidity aggregation. However, this still comes with the previously mentioned incentive flaws of 'race to the bottom.'
It is currently unclear what the ultimate effects of the fees will be, but it is certain that the inherent incentive structure in Party mode still has room for improvement. As seen in the successful cases of HIGHER and NOGS, the tools themselves are not absolutely good or bad; their outcomes depend more on the specific implementation and the transparency of user experience. These factors may be key in driving the further evolution of its model.
Nevertheless, introducing this feature into the social information stream through proxies/bots is undoubtedly a step forward - this is referred to as the 'Clanker effect.'
One way to align the incentive mechanisms of projects like DEGEN is to set token unlocking and vesting timelines. Another option is to distribute tokens to liquidity providers over a long period rather than all at once. Superfluid is helping several projects airdrop tokens to the community in this way. While this may not necessarily be a default requirement, it can serve as an option for users participating in projects or memes to decide whether to engage based on this metric. Although this is not a perfect solution, it provides iterative experiments worth considering.
Onsen
Onsenbot, developed by Hellno, is a concise and efficient Farcaster framework-driven bot that simplifies the token issuance process while allowing token creators to receive initial allocations from the start.
Any Farcaster user can participate by simply uploading an image and choosing the desired allocation ratio (default suggestion is 3%). After the token is created, users will receive a private message with details. Only when the token is purchased will dexscreener display the relevant information. In my experience, creators need to raise liquidity from scratch. Onsenbot's fee structure is competitive, at only 5% (compared to Clanker's 1% Uniswap fee, which takes 75%).
Terminal
Carlos developed Heyterminal, a bot that integrates social dynamics and supports token issuance. I haven't personally used it, but it runs well, and all related tokens can be viewed on the Heyterminal webpage.
Process
1. Deploying Tokens: For example, creating moon (their first token).
2. Airdrop to designated accounts: For example, airdropping moon to papa.
3. Airdrop to channels: For example, airdropping moon to /tipothehat.
4. Token Distribution: Creators receive 4% of the supply while distributing 50% of the liquidity pool fees.
5. Add additional token images: Add token-related images to your dynamics.
After building the Farcaster Index, Terminal is the latest token platform launched by Carlos, pulling data from the entire Base ecosystem and allowing users to interact easily through their own DEX.
Anyone should be able to launch a token economy. If you have a wallet, a Farcaster account? Create a token for your community, fitness group, or even your cat. - Carlos
Launcher
Launcher is a robot token launcher built on Farcaster by Kompreni, aimed at promoting long-term commitment through long-term incentives. This approach includes several key innovations.
Prevent price sniping by implementing a fixed price Uniswap liquidity pool for the first 10 ETH.
Provide a 1% liquidity provider incentive for two years.
Create opportunities for 'sweat equity' through a working agreement, allocating 12.5% of tokens for work contributions.
Establish a revenue model where 90% of ETH transaction fees are allocated to token holders.
Provides a friendlier founder token distribution plan, with 2.5% of the tokens gradually unlocking over a year.
"This is a toolkit that allows you to operate a startup on-chain." - Kompreni
The first 12.5% of supply on Uniswap is provided with liquidity at a fixed price, with a market cap of 80 ETH. After this part sells out, Uniswap's full curve will take effect for 50% of the tokens. The Launcher is not a personality-driven agent (like a customized tuned LLM); it is purely a bot, so the method to create tokens is 'launcher launch [ticker]'.
The goal is to create a more sustainable and equitable token launch mechanism aimed at curbing predatory trading behavior and incentivizing meaningful participation. - Kompreni
Notable Mention
Beliefs was initially built as a Farcaster-native robot token launcher by dalechyn and kienfam. However, they have now shifted focus to X and Telegram and promise to return soon.
Dreamcoins (wow), built by the Zora team, employs a unique launch method. In fact, the wow token can be initiated through platforms like Clanker and Heyterminal. Their setup is very unique; the token must 'graduate' on their platform (reach a market cap of $120k) to complete its bonding curve and officially enter the market. This is to ensure that there is sufficient liquidity and a solid foundation for the token before its release, thus laying the groundwork for its eventual prosperity.
This allows creators/communities to secure tokens before buyers, but the visibility of the tokens is limited until this benchmark is reached. Dreamboy is a token launcher, but I'm not sure if it has gone live on Farcaster.
Original Link