TL;DR
- Farcaster acquired Clanker, an AI token launch platform (tokenpad) on the Base network.
- The CLANKER token reacted with a weekly rise of over 360%, reaching a new all-time high.
- Farcaster will integrate Clanker’s “tokenbot” and use fees to buy, hold, and burn CLANKER tokens.
The CLANKER token price exploded following the acquisition by Farcaster of Clanker, an AI agent-powered token launch platform on the Base network. The token’s price soared over 360% in the last week.
This strategic move by the web3 social media platform Farcaster signals a clear intention to expand into the financial side of “SocialFi” (Social Finance). The CLANKER token reached a new all-time high (ATH) near $143 on Oct. 26 and, at the time of this writing, is trading around $112.
By integrating Clanker’s infrastructure, Farcaster, which initially positioned itself as a decentralized social network, now appears poised to compete more directly with other Base-native SocialFi platforms, such as Zora.
Farcaster announced in an X post on Oct. 23 that it plans to integrate the AI token-launching agent platform, also known as “tokenbot,” “more deeply” into its app. The goal is to make it easier for users “to create and participate in on-chain communities.”
New Tokenomics and User Growth
Following the Farcaster acquisition, the company announced significant changes to CLANKER’s tokenomics that will benefit holders. Farcaster will use the protocol fees generated by Clanker to buy and hold CLANKER tokens.
Furthermore, tokens from earlier versions’ fee vaults will be burned, thereby reducing the circulating supply. Additionally, it was reported that approximately 7% of the total CLANKER supply has been permanently locked in a one-sided liquidity pool to increase market depth.
Shortly after the news, on Oct. 28, Farcaster also reported that its daily active users (DAU) had reached an all-time high, although it did not disclose specific figures.
Dune Analytics data shows that the social network has 1.4 million registered users, although only about 20,000 were active as of September this year. Clanker, created last November by Farcaster ecosystem developers, gained traction by sparking the “AI memecoin boom” on Base, allowing users to launch tokens via simple text prompts.
Although the financial terms of the Farcaster acquisition were not disclosed, the move follows months of development overlap. However, Clanker was involved in controversy in May when it cut ties with co-founder ‘proxystudio,’ who was identified as the same person (Gabagool.eth) involved in a $350,000 theft from the Velodrome Finance team in 2022.
It was reported that the funds were returned and that there was no evidence of wrongdoing during the developer’s time at Clanker. Since its debut, Clanker has generated over $50 million in fees.
