Taking stock of Farcaster’s AI Agent token launcher: Will there be another Clanker?
Original title: Farcasters AI Bot โทเค็น Launchers
Original website: papajams.eth
คำแปลต้นฉบับ: โจวโจว, BlockBeats
หมายเหตุบรรณาธิการ: This article will introduce several token launch tools on the Farcaster platform, allowing users to easily create tokens and interact with the ecosystem to help long-term development and simplify token launches to promote the vigorous development of the community.
ต่อไปนี้เป็นเนื้อหาต้นฉบับ (เพื่อให้อ่านและเข้าใจง่ายขึ้น เนื้อหาต้นฉบับได้รับการจัดระเบียบใหม่):
Farcaster is a social network built on การเข้ารหัสลับgraphic technology, from decentralization to nodes (centers). As a distributed server network, anyone can set up these nodes to store and verify data.
However, it is not completely decentralized, as the founders DWR and V, as well as the core developers (Horsefacts, etc.) maintain the control center through the de facto client Warpcast, driving the adoption and development of the platform.
The first phase of tokenization on Farcaster started with POINTS, which was launched as a joke by iammatthias with a slight push from the community, and Six wrote a great post about it.
Things quickly got out of control.
Launching a popular meme is not for the faint of heart, people’s expectations are a heavy burden, especially for something that was never intended to be a big deal. Many people assume the worst without understanding the ecosystem.
Nonetheless, it was a successful initial experiment.
As a result, creativity was unleashed and the initial era of tokenized communities on Farcaster was born, many of which are still thriving today: HIGHER, TNX 100, and DEGEN.
It’s beyond the scope of this article to tell their story here, but at the end of the article I’ll share some resources and it’s worth paying attention to their founders: deployer, Jacek, LGHT.
Early experiments with tokenization on Farcaster, supported by a decentralized social graph, have had varying degrees of success and failure. Perhaps because of the large and active developer community, many attempts have had significantly higher success rates than similar projects.
สภาพคล่อง
“A decentralized protocol needs a token to exist” — a16z CTO Eddy Lazzarin
One of the key issues with any new token or meme coin launch is ensuring users can purchase and/or trade your token, effectively purchasing a share or interest in its future. There needs to be a sufficient asset base to enable smooth and efficient trading, and the successful tokenized community on Farcaster has addressed this in a number of ways.
For the HAM TNX 100 token, liquidity is achieved through the NFT mechanism.
For DEGEN, liquidity mining incentives combined with external investment have established a strong liquidity pool.
HIGHER successfully attracted widespread attention by crowdfunding liquidity before launching through methods such as using party apps.
However, this also quickly got out of control (market cap as of December 7, 2024 is as follows):
ตลาด value is $39 million
Market value is $150,000
Market value is $0
Market value is $2 million
Market value is $347,000
Market value is $3.8 million
What started out as a serious attempt ended up being a fall.
A system with asymmetric incentives (for long-term outcomes), which rewards bad behavior quickly and good behavior slowly, causes liquidity providers to rush to exit when tokens are issued.
This “pump and dump” phenomenon is not unique to Farcaster, but is an early manifestation of the blockchain enabling widespread and unlimited access to speculative meme tools, and many architects are not familiar with the structural details of how to circumvent these tendencies.
BOTS
Advances in custom-tuned Large Language Models (LLMs), coupled with their integration into social networks, have accelerated exponentially, driving down costs and significantly improving ease of use.
“The original LLMs were built about five years ago, and only started to go mainstream about two years ago, with products that people use, like ChatGPT, Claude, Grok, and Llama.” — pmarca, ben mark show
On the X platform, AndyAyrey built the truth terminal, which leveraged its KOL influence to push GOATmeme to a market value of over $1 billion. On Farcaster, the first similar project was Aether, built by Martin, which has earned six-figure income (e.g. through art collaboration NFTs) and reinvested the proceeds in the HIGHER community.
Built by Dish and ProxyStudio, TokenBot is an AI agent that lives in Farcaster’s feed as a user account designed to make it easy and frictionless to create tokens by simply posting a token name, image, and code along with the TokenBot tag.
This has triggered an explosion of token growth enabled by TokenBot, which recently surpassed 10,000 tokens, with total trading volume reaching $1 billion and fee revenue exceeding $7 million, while millions more have been sent to token creators.
Once a user issues a token, the contract is almost immediately live and tradable. Universal participation by everyone in the community allows for a wide variety of token types, from pure memes to composability experiments, zksync-enabled anonymity, and commercial uses.
It has spawned many memes and projects, including but not limited to:
Anonymous meta-projects: rumourcast.xyz, 33 bits.xyz, anoncast.org, 66 bits.xyz
Client meta-projects: native.fun, supercast.xyz (superanon), streamm.tv, clank.fun
The main issue with Clanker that has caused controversy is that sniper robots are able to buy tokens at an extremely fast rate at the beginning of the token issuance, faster than most people (even its creators), and these sniper robots are likely to sell the tokens quickly afterwards.
Critics argue that this mechanism is not ideal, for example, MetaMask co-founder Dan Finlay created the CONSENT token as an experiment to understand this process. Within a minute of its issuance, the token’s market value soared to $4 million, driven by sniping bots and automated behavior, and was then quickly sold off, causing these bots to make a lot of money.
Some people also believe that sniping can promote momentum and attract attention, and in the long run, if the meme attribute of the token itself is strong enough, the short-term funding impact is not important. The team is working hard to develop potential solutions to balance the trade-offs of accessibility and equal opportunity for fair issuance. This phenomenon has not been solved in the entire ecosystem, and there is no perfect solution yet.
Larry
To combat sniping, df and Stephancill created LarryBot, a token issuance tool that allows everyone to buy tokens at the same price within 15 minutes before launch (now changed to 69 minutes, unsurprisingly in line with meme culture). The only restriction is that during this time window, the idea or meme must attract at least 3 ETH (as liquidity injection) and the participants Neynar score must be higher than 0.9.
This experiment sets a higher bar 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’ access to the initial token allocation while achieving strong crowdfunding liquidity aggregation. However, this still comes with the previously mentioned “race to the bottom” incentive flaw.
It is not clear what the ultimate effect of fees will be, but it is certain that the incentive structure inherent in the Party model still has room for improvement. As seen from the success stories of HIGHER and NOGS, tools themselves are not absolutely good or bad, and the results depend more on the specific implementation and the transparency of the user experience. These factors may be the key to driving the further evolution of their models.
Nonetheless, introducing this functionality into social information flows via agents/bots is undoubtedly a step forward – this has been dubbed the “Clanker effect”.
One way to address incentive alignment for projects like DEGEN is to set a token unlocking and vesting schedule. Another option is to have tokens flow to liquidity providers over a long period of time rather than all at once. Superfluid is helping multiple projects airdrop tokens to the community in this way. While this is not necessarily a default requirement, it can be an option for users who participate in a project or meme to decide whether to participate based on this metric. While this is not a perfect solution, it provides an iterative experiment 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 beginning.
Any Farcaster user can participate by uploading a picture and selecting the allocation they wish to receive (the default recommendation is 3%). Once the token is created, users will receive a private message with details. The dexscreener will only display relevant information once the token has been purchased. In my experience, creators need to raise liquidity from scratch. Onsenbots fee setting is relatively competitive at only 5% (compared to Clankers 75% of the 1% Uniswap fee).
เทอร์มินัล
Carlos developed Heyterminal, a bot embedded in a social feed that supports token issuance. I haven’t used it myself, but it works well and all relevant tokens can be viewed on the Heyterminal webpage.
process
1. Deploy a token: For example, create moon (their first token).
2. แอร์ดรอป to a specified account: for example, airdrop moon to papa.
3. Airdrop to a channel: For example, airdrop moon to /tipothehat.
4. Token distribution: Creators receive 4% of the supply and are allocated 50% of the liquidity pool fees.
5. Attach Token Images: Add token-related images to your feed.
After building Farcaster Index, Terminal is the latest token platform launched by Carlos that pulls data from the entire Base ecosystem and enables users to conveniently interact through its own DEX.
Anyone should be able to start a token economy. Do you have a wallet, a Farcaster account? Create a token for your community, your fitness collective, or even your cat. —Carlos
Launcher
Launcher is a robot token launcher built by Kompreni on Farcaster that aims to promote long-term commitment through long-term incentives. The approach includes several key innovations:
Prevent price grabs by implementing a fixed-price Uniswap liquidity pool for the first 10 ETH
Provide 1% liquidity provider incentive for two years
Creating “sweat equity” opportunities through a work agreement that allocates 12.5% of tokens for work contributions
Build a revenue model where 90% of ETH transaction fees are distributed to token holders
Provide a more founder-friendly token distribution plan, with 2.5% of tokens to be gradually unlocked within a year
“This is a toolkit that allows you to run a startup on-chain.” — Kompreni
The first 12.5% of supply on Uniswap provides liquidity at a fixed price with a market cap of 80 ETH. After this portion is sold out, Uniswaps full curve will take effect for 50% of tokens. Launcher is not an agent with personality (such as a custom-tuned LLM), it is purely a robot, so the method to create a token is launcher launch [ticker].
The goal is to create a more sustainable and fair token launch mechanism that aims to curb predatory trading practices and incentivize meaningful participation. —Kompreni
Notable Mentions
Beliefs was originally a Farcaster native bot token launcher built by dalechyn and kienfam. However, they have now shifted focus to X and Telegram, promising to return soon.
Dreamcoins (wow), built by the Zora team, uses a unique launch method. In fact, wow tokens can be launched through platforms such as Clanker, Heyterminal, etc. Their setup is very unique, and the token must graduate on their platform (reach a market cap of $120k) before it can complete its bonding curve and officially enter the market. This is to ensure that the token has sufficient liquidity and a solid foundation before launch, laying the foundation for its eventual prosperity.
This allows creators/communities to secure tokens before snatchers, but visibility of tokens is limited until this benchmark is reached. Dreamboy is a token launcher, but I’m not sure if it’s live on Farcaster yet.
This article is sourced from the internet: Taking stock of Farcaster’s AI Agent token launcher: Will there be another Clanker?
Original author: Dan Morehead, founder of Pantera Capital Compiled by: Odaily Planet Daily Azuma Thousand times profit Pantera’s Bitcoin Fund recently reached a crazy milestone — a thousand-fold profit. With BTC surging nearly 30% following Trump’s victory, the fund’s total return since inception is 131,165% after fees and expenses. I want to share with you our original logic because it seems to me just as convincing today. Odaily Note: In an email on July 5, 2013, Dan, as CEO, called on Pantera to buy BTC at the market price of $65, and said that he had decided to buy 30,000 coins first, and others could decide whether the fund itself would buy. Two days later, on July 7, the Pantera Bitcoin Fund was officially established. The day we chose to…
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