Can the Clanker presale ignite a new wave of frenzy on the Base chain?

What new features does the Clanker mechanism offer?

Written by: KarenZ, Foresight News

After acquiring Clanker, Farcaster decided to use two-thirds of the protocol fees generated by Clanker to purchase and hold CLANKER tokens. As of December 2, Farcaster has accumulated 1.8% of Clanker's total supply, corresponding to 18,342 tokens.

Meanwhile, Clanker is also targeting new markets, aiming to carve out a place for itself. The platform's first mechanism event will launch at 1:30 AM on December 5. So, what are the specific features and innovations of this mechanism? Based on the public documentation from the Clanker development team, let's take a look together.

Core Rules and Features of the Clanker Mechanism

Fundraising Targets Have "Upper and Lower Limits"

Clanker sets both upper and lower limits. The lower limit is the minimum fundraising target (if not reached, funds are refunded), and the upper limit is the maximum fundraising target (once reached, fundraising closes). This way, project teams have both a guaranteed minimum and a cap, so they know what to expect.

7-Day Event Cycle

The event runs for a fixed period of 7 days and stops automatically when time is up. However, the project team does not have to wait the full 7 days; as long as the minimum target is reached, they can choose to end the event early and quickly proceed with token deployment. Additionally, if the fundraising amount reaches the maximum target during the event, anyone can directly terminate the event.

Investor Protection

During the event, investors can withdraw all or part of their invested ETH at any time. This gives investors full autonomy and makes risk more controllable.

Additionally, if the fundraising is successful, the project team can directly claim the raised ETH (minus Clanker's fees). If the fundraising fails, investors can withdraw their invested ETH.

Anti-Dump Locking and Release Mechanism

Why do tokens often crash after listing? It's often because large holders and early participants dump as soon as the token goes live. To address this, Clanker sets a mandatory lock-up period (at least 7 days), so participants cannot immediately sell their tokens upon receiving them. After the lock-up period, tokens are not unlocked all at once but are released linearly over time, effectively preventing the market from being instantly overwhelmed.

Customizable Token Allocation

Project teams can control token allocation through parameter settings. By default, 50% goes to event participants and 50% to the liquidity pool, but the project team can adjust this ratio.

Whitelist Mode Supported

Not all projects want everyone to participate. Activities on Clanker support whitelist restrictions, allowing the project team to specify that only certain addresses can participate. This is suitable for curated fundraising by the project team.

Clanker Mechanism Process

The process of the Clanker mechanism can be briefly summarized in the following four core stages:

1. Launch Stage: The project team configures parameters such as fundraising targets and token allocation.

2. Participation Stage:

• Users: Deposit ETH to participate in the subscription; during this stage, they can also withdraw ETH at any time (cancel/reduce investment).
• Project Team: If the minimum fundraising target is reached, the project team has the right to end the event early without waiting for the full duration.

3. Ending Process: The event can be ended in the following ways:

• Time runs out and the minimum target is reached (anyone can trigger);
• The fundraising amount reaches the maximum target (anyone can trigger);
• Or, after reaching the minimum target, the project team decides to end early (only the project team can trigger).

4. Final Settlement:

Depending on the fundraising status at the end, there are two possible outcomes:

Success: The minimum or maximum target is reached.

Result: Tokens are automatically deployed. The project team withdraws the raised ETH (after deducting Clanker fees); users can claim tokens after the lock-up period ends (at least 7 days).

Failure: 7 days pass without reaching the minimum target.

Result: The process fails. Users can withdraw their ETH.

In summary, Clanker's new mechanism attempts to strike a balance between investor protection and project team flexibility. Investors can withdraw funds at any time, receive a full refund if the event fails, and benefit from token lock-ups that prevent dumping, effectively reducing participation risk. Project teams can flexibly adjust fundraising strategies, customize token allocation ratios, and even end the event early after reaching the minimum target, greatly improving efficiency.

However, the outcome of mechanisms on Clanker still depends on a combination of factors—the quality and prospects of the project itself, market enthusiasm and recognition, and the reasonableness of the rules set by the project team, among others.