MetaMask co-founder Dan Finlay recently experimented with launching a meme token on the Base network using an AI-powered platform called Clanker. In just five minutes, the token, named CONSENT, surged to a market cap of $4.5 million, only to later fluctuate between $2-3 million. However, the experience left Finlay feeling frustrated and skeptical about the process.
Clanker, which functions similarly to makenow.meme, allows users to create meme tokens simply by interacting with the platform through text commands. By describing the token’s ticker, content, and image, Clanker deploys the token automatically, with AI handling the entire process. Unlike traditional methods, Clanker’s deployment system means the creator doesn’t have direct control over who buys the token or when.
Despite the simplicity, Finlay felt the system was plagued by bots that snatched up tokens before the creators had a chance to purchase any themselves. He noted, “It was a terrible experience. Tokens were snatched up by 200 bots before I could even get a chance to buy. Clearly, this is a scam in disguise. Maybe token creators should be required to deposit initial funds first?”
This wasn’t the first time such issues had occurred. A similar situation unfolded on makenow.meme, where early buyers (often bots) would grab tokens before the official creator could even identify the legitimate token. The “fair launch” model, meant to give everyone equal access, often ended up benefiting bots and big players rather than average users.
After losing money from his experience with Clanker, Finlay turned to pump.fun for a comparison. Within minutes of launching the same token, CONSENT, on the Solana blockchain via pump.fun, the token’s market cap surged to $11 million. Finlay’s account was up by $200,000.
He praised pump.fun, saying, “The experience here was far better. At least with pump.fun, the developers are actual creators behind the token. It’s much harder to have bots run away with everything. I lost way more with Clanker than I’ve gained with pump.fun, even though my initial investment on pump.fun was a fraction of what I spent on Clanker.”
Clanker responded with a subtle jab, tweeting: “@danfinlay tried both Clanker and pump.fun. He gave us some great suggestions which we will use to improve our product. Dan’s experience wasn’t ideal, but he still made over $26,000 on ETH.”
Though Finlay didn’t immediately see Clanker’s reply, other users on Warpcast began asking, “Where can I see those Clanker rewards?” suggesting that despite his complaints, Finlay’s experience still offered some significant financial upside.
Key Takeaways:
- Clanker is an AI-powered meme token creation platform that allows users to launch tokens quickly and easily.
- Dan Finlay launched a meme coin (CONSENT) using Clanker, but lost out as bots snatched up tokens before he could buy.
- Finlay later launched the same token on pump.fun and saw far better results, with the market cap quickly reaching $11 million.
- Clanker and pump.fun offer very different experiences for meme coin creators, with Finlay highlighting the challenges of bot interference on Clanker.
This incident has highlighted the potential risks of AI-powered token launches, particularly for those who aren’t prepared to deal with automated systems and bots. It remains to be seen whether Clanker can address these concerns and provide a better experience for creators moving forward.