Web3 social media protocol Farcaster has announced its acquisition of Clanker, an AI-driven token launchpad operating on the Layer 2 network, Base. This strategic move has propelled the CLANKER token to rise over 350% within the past week, underscoring Farcaster’s commitment to expanding its footprint in the SocialFi sector.
Following the acquisition, the CLANKER token hit an all-time peak near $143 on October 26, before settling to approximately $112 by the end of the month. This price jump reflects growing investor confidence as Farcaster integrates Clanker’s innovative AI-powered tokenbot platform more deeply into its ecosystem.
Initially launched as a decentralized social media network, Farcaster is now accelerating its evolution to directly compete with other Base-native SocialFi platforms such as Zora. The integration of Clanker’s token launch infrastructure aims to simplify the creation and engagement of on-chain communities for Farcaster users. On October 23, Farcaster highlighted via an X post that the tokenbot would be embedded within its application to improve user experience in developing blockchain-based social projects.
In addition to incorporating Clanker’s technology, Farcaster shared plans to use protocol fees collected through Clanker to purchase and hold the CLANKER token. Concurrently, tokens from earlier protocol fee vaults will be burned to constrict the circulating supply. The announcement also revealed that approximately 7% of the total CLANKER tokens are locked permanently in a unidirectional liquidity pool intended to enhance market depth and stability.
Accompanying the acquisition news, Farcaster reported record levels of daily active users (DAU) on October 28, although it did not disclose exact numbers. Data sourced from Dune Analytics indicates the network has amassed about 1.4 million registered accounts, with close to 20,000 active users recorded in September.
The financial terms of the deal remain undisclosed, but the acquisition follows months of collaborative development between the two projects. Clanker was initially founded in November last year by Farcaster ecosystem developers Jack Dishman and a pseudonymous figure known as proxystudio. The platform quickly gained popularity for igniting an “AI memecoin boom” on Base by enabling users to launch tokens via simple text commands.
In May, Clanker faced controversy tied to one of its original developers, who was associated with a previous incident involving a $350,000 theft at Velodrome Finance under a different pseudonym. The project subsequently distanced itself from the individual after funds were returned. No wrongdoing was reported in connection with Clanker’s development period.
Since its inception, Clanker has generated over $50 million in fees, according to DefiLlama data, positioning it as the fourth-largest protocol on Base by weekly revenue. Over the past seven days alone, Clanker amassed approximately $482,300 in revenue, highlighting its ongoing significance within the Base ecosystem.
This acquisition represents a pivotal step for Farcaster as it seeks to blend social engagement with decentralized finance tools, leveraging AI to streamline token launches and foster vibrant on-chain communities.
