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Crypto Social Platform Farcaster Acquires Clanker Token Bot

Farcaster plans on integrating Clanker "more deeply" into the app.
Crypto Social Platform Farcaster Acquires Clanker Token Bot
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Clanker – an AI token bot that allows users to deploy instantly tradable tokens on Base Base and Arbitrum Arbitrum via social media prompts – is joining forces with Farcaster Farcaster – the crypto-enabled social media network to which it was initially deployed.

What's the Scoop?

  • Integration Ambitions: Although details of the union appear sparse at this time, Farcaster has promised further details on how it intends to integrate Clanker "more deeply" into its social media app in the near future.
  • Clanker Changes: According to Farcaster's team, the merger holds implications for the CLANKER token. On the bullish side, all Clanker protocol fees will be used to buy and hold CLANKER, and all previously collected protocol fees held as ecosystem tokens have been burned. On the bearish side, the Clanker team will lock 7% of total CLANKER supply into a one-sided liquidity provider position, which has a similar effect to a sell order.
  • Prior Offer: Farcaster's purchase come just one month after crypto wallet provider Rainbow Rainbow publicly published its own acquisition terms for Clanker, which were met with swift rejection.

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Jack Inabinet

Written by Jack Inabinet

513 Articles View all      

Jack Inabinet is a Senior Analyst with a passion for exploring the bleeding edge of crypto and finance. Prior to joining Bankless, Jack worked as an analyst at HAL Real Estate where he conducted market research and financial analysis for commercial apartment development and acquisition activities in the Seattle region. He graduated from the University of Washington’s Michael G. Foster School of Business.

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