The Clanker v4 contracts are audited by Macro & Cantina and integrations with aggregators / routers are actively being completed. Soon, we'll be publishing the technical specifications, updated SDK, and a comprehensive implementation guide.

Key Features

Customizable Fee Structures: Configure fee tiers, collect fees in only a specified token, or set dynamic fees based on trading activity

Custom Liquidity Distributions: Create your own liquidity distribution curve by placing up to 7 LP positions to make more or fewer tokens available for purchase at specified prices. Available via SDK or direct contract interaction

Multiple Reward Recipients: Set up to 7 rewards recipients at launch, each modifiable by a paired “admin” address

Streamlined Rewards: Create multiple tokens paired with WETH and claim all the WETH rewards in one transaction, as rewards are claimed on a per-token basis

MEV Modules: Modify the initial pool’s behavior at the time of deployment with various MEV modules. Our initial module, which delays trading of deployed pools by two blocks, is the first installment of our sniper-aware technology

Clanker Extensions: Vaulting and Creator Buy / Dev Buy functionality are now grouped under Clanker Extensions. Extensions are contracts that can be used to add new functionality to the token deployment process. Up to 90% of the token supply may be allocated to extensions in total

• Vaulting: Now vault up to 90% of the token supply with a reduced minimum lock of 7 days

• Creator Buy / Dev Buy: Any amount of ETH may be used to execute a Dev Buy upon creating a token (remains the same). For non-WETH paired tokens, the paired token must have a WETH <> Paired Token Uniswap v4 pool in order to complete a Dev Buy (updated)

• Airdrops (coming soon): Set airdrop allocations upon token creation with vesting parameters. Tokens are then allocated to recipients and claimable after a minimum of one day. Contract support is live, frontend and SDK support soon to follow.

Fee Mechanisms

Fees can be configured to be either static or dynamic.

Static Fees

Static fees can be configured on a per-token basis, meaning token creators can decide how much of each input token on the swap is collected as a fee. Full customizability is available via deployments through the SDK.

E.g., Clanker token fee = 1%, paired token fee = 2%

• Swapping the Clanker token in exchange for the paired token incurs a 1% fee

• Swapping the paired token in exchange for the Clanker token incurs a 2% fee

Dynamic Fees

Dynamic fees are collected in both the Clanker token and paired token. A base fee is set, which is a static fee collected on each swap. A variable fee is added on top of the base fee, based on the price impact of the current swap and the accumulated volatility from previous swaps. Generally, the more a token’s price is moving over a short period of time, the higher the effective fee is that will be collected. Full customizability is available via deployments through the SDK. Additional information on the dynamic fee mechanism will be provided in the technical specifications.

Clanker Protocol Fee

The Clanker fee is now collected at the pool level, meaning it applies to other LPs that participate in the initial pool. This fee is 20% of the effective fee, which is collected in addition to the static / dynamic fee.

Liquidity Distribution

Up to 7 LP positions may be added during the token creation process to enable various liquidity distributions in the pool. Previously, all tokens were placed in a single LP position from the starting price to infinity. Now, Clanker token liquidity is able to be more / less concentrated in specific ranges, depending on the liquidity profile that the token creator wishes to set. This is available via deployments through the SDK. Additional detail on placing multiple LP positions to come in the updated SDK documentation.

Reward Recipients

Token creators accrue rewards from trading activity that occurs against the tokens that are initially placed in the trading pool during token creation.

At least one rewardAdmin + rewardRecipients pair is required to be set. Up to a maximum of 7 of these pairs may be included.

For each pair, you must set the % of trading fees the rewardRecipients will receive using rewardBps. rewardBps is denominated in basis points (1 basis point = 0.01%) and the sum of rewardBps across all pairs of recipients must be 10,000 (100%).

Can Be Changed

• Any given rewardAdmin may change its paired rewardRecipients(e.g. rewardAdmin #1 can change rewardRecipients #1)

Cannot Be Changed

• Any given rewardAdmin cannot change a rewardRecipients that it is not paired with (e.g. rewardAdmin #1 cannot change rewardRecipients #2)

• rewardBps cannot be changed post token deployment

Reward Claiming

Behind the scenes, Clanker contracts now automatically collect the fees earned on the LP position(s) and send them to a separate fee locker for claim. The rewards claiming process is now on a per-token basis rather than a per-token pair basis (recipients may claim WETH for multiple tokens they created in one transaction, rather than collecting WETH + token #1 in one transaction then WETH + token #2 in another). Claiming rewards for a given token / recipient is still a publicly callable function.

MEV Modules

Modify the initial pool’s behavior at the time of deployment with various MEV modules. The initial module adds a 2 block delay between token / pool deployment and when it is enabled for trading. This is to prevent snipers from sniping in the same block of deployment. Future MEV module upgrades will explore auctioning off the first swaps on pools for the benefit of creators. For more information, see Lily's (head of protocol) article: Minimal Viable Auction for New Assets on Priority Ordered L2s

Additional information on MEV modules will be provided in the technical specifications.

Extensions

Vaulting

Vaulting, a Clanker extension, allows for token creators to set aside tokens before they are placed in the initial liquidity position(s). Up to 90% of the token supply may be vaulted and allocated to extensions in total.

lockupDuration refers to the time (in seconds) since token creation before vesting begins. The minimum enforced lockupDuration is 7 days.

vestingDuration refers to the time (in seconds) during which vesting occurs. Vesting occurs linearly and begins once lockupDuration ends. Note that the lockup period does not constitute a traditional vesting cliff where vesting starts at the beginning but tokens are locked until the cliff - no tokens are vested until lockupDuration ends.

admin can claim tokens anytime once the lockupDuration ends. The amount will vary depending on both the amount of time that has passed since the lockupDuration ended and whether some of the tokens have already been claimed. The claim is a public function (anyone can call the claim function) and can be triggered multiple times, and however many tokens are vested + unclaimed at that time will be available. Upon triggering a claim, vested + unclaimed tokens are sent to the admin address.

Can Be Changed

• The admin of the vaulted tokens may designate a new admin address, thus relinquishing their control (e.g. admin at deployment is Team EOA #1, who can then change the admin address to Team Multisig #1)

Cannot Be Changed

• Neither lockupDuration nor vestingDuration can be changed post-deployment

Creator Buy / Dev Buy

Any amount of ETH may be used to execute a Dev Buy upon creating a token (remains the same). For non-WETH paired tokens, the paired token must have a WETH <> Paired Token Uniswap v4 pool in order to complete a Dev Buy (updated).

Airdrops (coming soon)

Set airdrop allocations upon token creation with vesting parameters. Tokens are then allocated to recipients and claimable after a minimum of one day (lockupDuration minimum is one day). Once available for claim, anyone can initiate the claim process for a given airdrop recipient and the given airdrop recipient will receive the tokens. Lockups / vesting work the same way as they do when vaulting tokens.

Beyond v4

While our primary focus remains on ensuring a seamless v4 integration and comprehensive post-launch support, we've also begun actively exploring new strategic opportunities for the Clanker token and our role in the ecosystem as a whole. This includes evaluating fresh approaches to tokenomics, incentive structures, and partnerships aimed at deepening our ecosystem's value and sustainability.

"You eat what you kill"

Attending college in the Bay Area for Computer Science was meant to launch me into a FAANG career at one of the companies everyone knows about with the stacked snack drawers and ID badges. That was the norm and traditionally marked success after graduation. I worked at a large consulting company for a year and while I learned a lot, I wanted to have more impact with my work since it'd take up so much of my life. I've always know I wanted to take the higher-risk path of startup land, even knowing nine out of ten fail.

I was really close to giving up on doing my own thing and taking a cushy job at a large company with clear expectations and comfortable "rest and vest" equity and 401k packages. After each startup I worked at failed by running out of money or pivoting to whatever's hyped in the market, it sounded even more appealing. But I knew deep down that it wasn't the type of career I wanted. It runs in the family; my dad’s mantra has always been “you eat what you kill” as he runs his own practice and built up what he has today, similarly to my grandfather who was a residential home builder. It makes the stakes more real to me, knowing the ceiling isn't capped by a manager's yearly review. A stable salary with linear promotions might work for some, but I craved the risk of doing things my own way.

In a startup, you pour long hours, late nights, weekends, and 80-hour work weeks into an idea you believe in, only to realize it might not be the one. The key is maintaining your work ethic and staying adaptable. Looking back, I probably overworked myself and lost touch with the world around me.

Read this for more insights into where I was at right before clanker:

Reflection of My First Five Years in Startup Land

I'm writing this article as an extension of my reflections for recalibrating my five-year plan now that time has expired for my previous ...

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This ties into Clanker. Alex and I were local, in the right place at the right time. Luck and the post-election buzz played their part. In a bear market, we focused on learning skills and building networks. We click because our shared values and ethics make it easy to align, challenge, pivot, and gain perspective. I’m the techie, Alex is the relationship guy who understands what people want.

Before Clanker, we built “pump.linkedin” for about a month. The idea was simple: map endorsements for a coin, and once it hit a threshold of around three advocates (FIDs), the coin would launch. Some of that logic still lives in the Clanker codebase. Caught up in the hype around Aethernet and Askgina, Alex proposed a rogue bot that would launch random coins. I built the core functionality, taking a name, symbol, and image from a cast to create a coin, and soon we realized we’d created a half-decent token launcher with an in-feed UI.

Growth was insane. I remember rushing to add pagination as tokens deployed rapidly, then tackling the challenge of directing LP fees to the requestor’s address tied to their FID. We were building the ladder as we climbed it.

We knew immediately after launch that we were onto something. I was interviewing at Base, my dream job at the time, and Alex had referred me. As tempting as a stable, prestigious role was, I realized that fully committing to this partnership and project was a once-in-a-lifetime opportunity.

Big things happen when you least expect them. When you take the pressure off reaching a goal, everything falls into place over time with consistency.

I forget who casted this but someone said there's now two eras: Before Clanker (BC) and After Deployment (AD) which I have a feeling will define milestones in my career

Thanks for reading, more to come, just wanted to get these thoughts down!

-jd

Often, channel growth and rankings are gauged by follower count, but I believe metrics of engagement and contributors ("replyooors"), as well as the quality of "interesting content," should be better indicators of success. These metrics reflect the impact a channel has within the Farcaster ecosystem—and eventually, beyond it.

1. Marketplaces – Channels like /bounties create value by serving both the supply and demand sides of a task or job market. The automated daily summaries delivered via direct messages help keep followers engaged. Channels offering this functionality become daily check-in spots for users seeking opportunities while fulfilling the needs of both sides 

2. Idea Incubators – Channels like /someone-build provide space for brainstorming and collaboration, allowing users to pitch ideas and receive feedback. This format allows people to share ideas while builders can browse recent casts to identify new side projects, gauge market demand, or receive recommendations for alternative solutions. Channels like /founders can act as soundboards for people in the founder’s circle, offering value even to passive participants who simply read the casts

3. Recurring Challenges of Showcasing Accountability – Channels such as /the-arena and /firstdraft use weekly tasks to maintain standings and streaks. Some include gamified elements like eliminations and awards. These channels succeed by promoting competitive yet collaborative environments, while allowing founders and curators to showcase their work and invite feedback. 

4. Personal Channels – Personal channels act as repositories for themes or philosophies, like /six, where users share personal insights. I use mine similarly to a Facebook wall. However, I feel that current channels lack the customization needed to truly express their subject matter.

5. Project Showcases – Channels like /thegarage excel at highlighting DIY projects, offering a space for knowledge sharing and inspiration. Developer-focused versions, like /devfc, allow developers to share knowledge, seek advice, and showcase weekend projects in channels like /base-builds. Often, these projects are eligible for rewards like grants or retroactive funding. Such channels let users celebrate their work while learning from others.

6. Exclusive Community – Channels such as /firstdraft stand out by offering exclusive access to private group chats and events, fostering a tight-knit community and enhancing the prestige of membership. I see exclusive community-building directly tied to content curation and revenue generation. The next wave of publishers could collectively curate interesting pieces and sell them to niche consumers, while channels might eventually form their own stores, charge fees, or sell advertising spots—think Variety Magazine, The Boston Globe, or TMZ.

The beauty and excitement in all this channel talk lies in the organic evolution that’s happening. As new use cases and tools emerge, channels will continue to evolve and grow in impactful and unique ways.

Sports betting isn’t new; in the past, you’d have to go to a casino or a bookie. The only difference now is that you can place bets from your couch. I guess you could also do it over the phone before, but the point remains.

My point here is that people aged 21-29 are used to juicy onboarding incentives and quick, simple returns. The only "gamification" is your account balance and watching the games.

Online lottery apps make playing scratch tickets, the Powerball, KENO, and other instant-win games super easy with direct deposits through a connected bank account. It’s surprising to see this vertical gain traction, especially since it’s government-sponsored. But with the Massachusetts State Lottery bringing in over six billion dollars last year, I guess it’s no shock they’re going digital.

Sports betting, in particular, has social aspects similar to crypto-native projects, gaining traction through word-of-mouth and shared bets. There's a research phase before betting, where you can see stats on how many people are picking a side and how much money represents confidence levels. In crypto, it’s the same, except the two sides are buyers vs. sellers, pitting bettors against each other.

Now, you might ask, Jack, how does this relate to on-chain fundraising?

It’s all about social capital coordination, something we see actively in sports betting and shared fantasy team ownership. The outcome isn’t left to pure chance, like a coin toss or card draw; there’s thought involved, though the final result is out of the bettor’s hands.

Similarly, when investing in a company or industry, there’s a process of researching the team, track record, and progress. Bettors follow a similar process when making picks.

With on-chain fundraising, I believe social capital coordination goes beyond financial pooling. Investors become early adopters, advocates, marketers, and, in a way, the product’s executive board.

Here’s how I see the startup fundraising model being flipped:

• Proof of Commitment: Demonstrating sweat equity through a functioning MVP signals to investors that the founder is serious and capable. It reduces perceived risk because there's already a foundation to build on.

• Value-Progress Correlation: The amount raised should align with the product's maturity. This allows investors to see clear potential returns based on progress, not just promises. Early investment should cover essential hires, like designers and marketing, to ensure the product can scale.

• Investor Trust: Investors trust founders more when they’ve already invested significant effort and resources. Only raise funds for tasks outside the core contributor’s skill set to accelerate growth.

• Transparent, Phased Funding Rounds: Break fundraising into smaller, milestone-based rounds so only immediate needs and tasks are funded. Investors will know exactly where their money is going. You could even break it down further into sponsoring bounties for specific tasks. Start with funding immediate needs and plan subsequent rounds based on progress.

In the same way sports bettors and crypto participants rally around their chosen outcomes, startup founders should leverage social capital to fuel their product’s growth. By showing real progress, aligning fundraising with product maturity, and involving investors as more than just check writers, the traditional fundraising model is turned on its head. Investors become true stakeholders, not only contributing financially but actively advocating for the product. The future of on-chain fundraising lies in this blend of transparency, trust, and strategic social coordination—because at the end of the day, it’s not just about raising money, it’s about creating momentum.

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