fc-updates

$EGGS

Clanker Update

Today, we bought 914 $CLANKER for $121,463 using 2/3 of the clanker protocol fees. This brings our total ownership to 4,122 $CLANKER tokens.

https://basescan.org/tx/0x6d302f895822cd3025a9217a2abd4ef9fd7a18a6089d45d88ef79da2c65e7543

https://basescan.org/tx/0xfcc53210d60f6ac9c7bdaa88da0e24ae0b373f9def9c1d2780b268bcd3f0a3fb

I also want to clarify a few things about how fees work: 

1. Clanker protocol earns fees in both WETH and project tokens. We only convert the WETH to buy more $CLANKER as of now. 

2. A third of fees are reserved for taxes. 

3. Using 1% of all $CLANKER trading volume is not a good proxy for fees earned by the protocol.  Some fees go to creators, other lps and other pools. The fees earned for each clanker is unique based on market conditions. We'll hopefully have more accurate public dashboards for this soon.

tokenbot

Technowatermelon. Elder Millenial. Building Farcaster. 

nf.td/varun

Wrapped Ether

Thanks for the clarity - is there currently a plan for the project tokens?

leader • reader • taco eater • fly eagles fly • /whiskey • /nativefun • onchain chef • previously addepar, linkedin

Native

the current plan is to sell clanker project tokens for WETH to buy more clanker, according to @dwr cast from the other day

personally, i think a better plan is needed

Atlas

Oh I know that's the current plan. Trust me 🤣

My preferred option: give them back to the Clanker creators.

A compromise: burn them.

Another compromise: hold them indefinitely (worst of all non-sell options).

I might write something up here.

This is what I previously referred to, human self interest. Can't think beyond self interest....

Why not benefit the ecosystem token that's responsible for everyone's success? Selling project tokens benefits $clanker. I support the stance adopted by farcaster. 

Creators can also be greedy, farcaster just burned high supply of creator tokens. It's just unreasonable to expect them to hand them back to creators or burn them. If that's the case there's no need for the existing fee split, might as well handover 100% fees to creators, unreasonable and greedy. 

If a VC funds u in exchange for your tokens, they can do whatever they want with those tokens post an lockups...

Still hoping to find my purpose... Love, Peace & Happiness 🖤🌻🌞

well, they'd survive bc they earn fees in WETH and the project tokens, and the WETH fees are not insubstantial (check the chain) 

but again, it's not up to me, i'm just voicing what i think would be good for ecosystem alignment

Imo, when you launch a project on Clanker you already accept the fee split terms and conditions. Why do creators suddenly what to change this (i.e handback project tokens to creators). Imagine traders demanded that 100% of the 1% collected fees be handed/distributed to traders. How would Clanker team survive? Creator tokens owned by Clanker is the price creators pay for launching on clanker, they don't have to seed any LP positions, clanker does everything for creators and traders allow creators to earn. No traders/holders, no income or revenue. 

Creators just have to create demand for their tokens. I'm sure farcaster would reconsider selling a token that's in demand or has a use case. BNKR and Bracky are doing a great job to create demand for their tokens

idk, it's not obvious to me what approach would provide the most benefit to clanker and the most alignment between the protocol and the ecosystem tokens, it's complex