With AI Agent, meme platform, and Web3 social three hot topics combined, will clanker surpass pump.fun?

Written by: Joe, Foresight News

What is clanker? A social meme issuance platform, an AI Agent, a meme.

In November, the Base ecosystem ushered in a new round of explosions that has lasted for at least three weeks, and clanker is one of the most critical links in this process. As of November 26, 2024, the first meme issued by clanker, CLANKER, has reached a market value of 70 million dollars.

Since November 8, 2024, at least three meme coins with a market value of over ten million dollars have been born on clanker: LUM (33 million dollars), ANON (46 million dollars), CLANKER (70 million dollars), and they are still on an upward trend.

Among them, the related product behind ANON—anoncast—uses ZK anonymous posting functionality. Ethereum founder Vitalik mentioned anoncast four times on Warpcast over a week and discussed with engineers how to improve this product. Vitalik himself actively purchased ANON tokens on November 21 to experience anoncast's product, which the market considers Vitalik's first active purchase of meme coins in recent years.

The birth of these memes cannot be separated from the help of clanker. Clanker is becoming the 'hit meme' manufacturing machine in the Base ecosystem.

So, will it continue to create new 'hit memes'? What does it mean for Farcaster, Base, and even Ethereum?

Clanker has launched three 'hit memes' worth ten million dollars.

Clanker is an AI agent developed by Farcaster full-stack engineer Jack Dishman and Farcaster ecosystem founder @proxystudio.eth, mainly used for automating token deployment on the Base network.

As of November 26, 2024, in just two weeks, clanker has issued 3,500 tokens and generated 4.2 million dollars in revenue.

Unlike pump.fun, clanker issues memes on the Web3 social platform Farcaster.

Users only need to @clanker and then describe the name, content, or even image of the token they want to issue in text, and clanker will automatically deploy the token. Among them, the token LUM deployed by clanker is a classic case.

The birth of LUM was a token issued in collaboration by two AI agents, namely aethernet and clanker. A Farcaster user named naaate asked the AI agent aethernet from the Higher community to help issue a token, and aethernet, as an AI, had another AI—clanker—issue the token. This marks a milestone event in the cooperative issuance of tokens between AI and AI.

The two AIs successfully issued a token LUM through mutual dialogue.

The birth of LUM, which reached a market value of ten million dollars in just a few days, has brought clanker into the sight of members of the Base community.

Another token issued by clanker, ANON, has brought clanker out of the community, allowing more people to understand the clanker product.

Twitter user @0xLuo stated: 'The ANON token is an anonymous posting account Superanon in the third-party client Supercast on Farcaster, which posts through the deployment of clanker. Later, many users airdropped $ANON to Supercast founder woj, who then airdropped the obtained $ANON to Supercast users, receiving a wave of positive feedback and enhancing community recognition.'

Later, builders began to construct application ecosystems around the ANON token, with the most prominent being the anonymous posting project anoncast.org, which requires holding a certain amount of ANON to post.

Image source: @0xLuo

The anonymous posting function using zk technology in anoncast has attracted the attention of Vitalik. In a week, Vitalik continuously posted four pieces of content related to anoncast on Warpcast and purchased ANON tokens, further breaking the boundaries of ANON. The market value of ANON has also stabilized at 40 million dollars.

The success of LUM and ANON made people realize the value of clanker as two 'hit meme manufacturing machines'. As of today, the market value of the CLANKER token has surpassed LUM and ANON, reaching 70 million dollars.

With the combination of three major elements, will clanker surpass pump.fun?

Combining AI Agent, meme platform, and Web3 social elements, will clanker surpass pump.fun?

Throughout this cycle, the Meme track has been monopolized by Solana, which cannot be separated from the success of pump.fun.

pump.fun (Data Source: Dune)

Since March 2024, pump.fun has created 3.79 million memes for Solana and earned 1.45 million SOL, about 360 million dollars in revenue. As a result, pump.fun has become the fastest Web3 application in the history of the entire crypto industry to achieve 100 million dollars in revenue. The success of pump.fun has directly brought massive capital and users to Solana, greatly promoting Solana's development.

In contrast, among the major Ethereum L2s, aside from the appearance of Degen and other golden dogs on Base, there have been no significant breakout memes. However, the Ethereum ecosystem has not given up on the meme track. Base has been entrusted with hopes of competing directly with Solana by the Ethereum community.

However, clanker may be the pump.fun within the Base ecosystem. Yet, clanker is different from pump.fun.

First of all, clanker is a product created by the engineers of the Web3 social protocol—Farcaster, and it is an AI Agent used for automatically issuing tokens built on Farcaster. Clanker inherently has Web3 social attributes. The behavior of users creating tokens is also conducted on Farcaster.

Secondly, as a meme platform, clanker's transaction fees and revenue sharing model are different from the traditional pump.fun.

Clanker's transaction fee model is relatively transparent and fair. Clanker does not charge a creation fee when issuing tokens but takes a fee from transactions. Specifically, clanker creates and locks a full-range Uniswap v3 liquidity pool (LP) with a transaction fee of 1%, of which 40% of the fees are allocated to the requester (i.e., those users who issue tokens through clanker), and 60% belongs to clanker. On pump.fun, users can create tokens at a very low cost, usually 0.02 SOL, but the transaction fee is 1%, and this fee entirely goes to the pump.fun platform operators for maintaining platform operations and providing liquidity.

Finally, clanker pays more attention to the integration with AI technology, actively making various attempts and combinations of AI Agents with products. This is also related to the strong engineering and technical atmosphere of the entire Coinbase group, base ecosystem, and Farcaster ecosystem.

Base, pioneering a new trend of 'application-based memes'

Unlike Solana's 'purely gambling memes', Base is pioneering a new trend of 'application-based memes'. The emergence of clanker represents that Base has already connected this entirely new ecological loop.

From Degen to Higher, LUNA, Aethernet, LUM, CLANKER, the 'application-based memes' of Base are increasing, becoming more distinct, and have gradually formed a trend, style, and culture.

Base's 'application-based memes' can be divided into two types: one is memes as applications, and the other is applications as memes. The representative of the first type includes Degen, Higher (Aethernet); the representative of the second type includes Farcaster, Virtuals (LUNA), clanker (LUM).

Core members of Base and Farcaster also encourage developers in the ecosystem to create applications while issuing memes, and even engineers themselves can immediately issue the products they have developed in the form of memes.

Under the competitive pressure of Solana memes attracting large amounts of capital and traffic, Base's emerging and developing system of 'application-based memes' will be a good way for the Ethereum ecosystem to break through, as even the best technology and concepts cannot sustain development without substantial financial and user support.

Both Polymarket and Farcaster have this characteristic, combining the development of truly meaningful applications with elements of gambling, attracting both genuine believers and the significant portion of gamblers and traders in the crypto industry.