Buyback + Presale Dual Engine: Can Clanker Reignite the Base Craze?

Original Title: "Can the Clanker Mechanism Ignite a New Round of Base Chain Frenzy?"

Original Author: KarenZ, Foresight News

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

Clanker Core Rules and Features

Funding Goal with "Limits"

Clanker has set upper and lower limits. The lower limit is the minimum funding goal (failure to reach results in refunds), while the upper limit is the maximum funding goal (closing upon reaching). This way, the project team has both a funding floor and a funding ceiling to guide their expectations.

7-Day Event Period

This event will run for a fixed 7 days and automatically stop when the time is up. However, the project team does not have to wait for the full 7 days; once the minimum goal is met, they can choose to end early to expedite token deployment. Additionally, if the funding amount reaches the maximum goal mid-way, anyone can terminate the event directly.

Investor Protection

During the event period, investors can withdraw their funds in full or in part at any time. This grants investors full autonomy and better risk management.

Furthermore, if the fundraising is successful, the project team can directly receive the raised ETH (minus Clanker's fee). In case of fundraising failure, investors can withdraw the ETH they had put in.

Anti-Dumping Lockup and Release Mechanism

Why does a token experience a sharp decline after listing? Often, it's due to large holders and early participants dumping right from the start. To counter this, Clanker has implemented a mandatory lockup period (minimum of 7 days) where participants cannot immediately sell upon receiving the tokens. After the lockup period expires, the tokens are not released all at once but gradually over time, effectively preventing a sudden market crash.

Token Distribution Can Be Customized

Project teams can control how tokens are allocated through parameter settings. The default is 50% to participants and 50% to the liquidity pool, but the project team can adjust this ratio.

Supports Whitelisting Mode

Not all projects want everyone to participate. The mechanism supports whitelisting restrictions, allowing the project team to specify that only certain addresses can participate. This is suitable for projects conducting curated fundraising.

Process Introduction

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

1. Start Stage: The project team configures key parameters, such as fundraising goals, token allocation, etc.

2. Participation Stage:

· Users: Deposit ETH to participate; users can also withdraw ETH at any time during this stage (cancel/reduce investment).

· Project Team: If the minimum fundraising goal has been reached, the project team has the right to end the event prematurely without waiting for the time to elapse.

3. End: The event can end through the following methods:

· Time expires and minimum goal is reached (anyone can trigger);

· Fundraising amount reaches the maximum goal (anyone can trigger);

· or if the minimum goal is met, the project team decides to end early (only project team can trigger).

4. Final Settlement:

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

Success: Minimum or maximum goal achieved.

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

Failure: Time expires after 7 days without reaching the minimum goal.

Result: Event Failed. Users can withdraw their ETH.

In conclusion, the Clanker event attempted to find a balance between investor protection and project flexibility. Investors could withdraw their funds at any time, receive a full refund in case of funding failure, and face a token lock-up period to prevent dumping, effectively reducing participation risk. On the other hand, the project team could adjust the funding strategy, customize the token allocation ratio, and even end the event early after reaching the minimum target, significantly enhancing funding efficiency.

However, the outcome of the Clanker mechanism depends on various factors' combined performance—the project's quality and outlook, market hype and recognition, and the project team's reasonable rule setting.