Clanker is flying way under the radar, currently trading at a 4 P/B and 1.2 P/S. Already stacks up nicely to Pump & Virtuals considering its val, and has a promising ecosystem beginning to form around it.  

Some highlights from my memo on @proxystudio.eth Clankerverse 🧵

Clanker has generated ~60% of Virtuals fees, but has 1.4% of its val. Possible explanations:

- Clanker eco lacks AI association (@bankrbot , @0xtinylabs may help) 
- Clanker community is somewhat isolated on Farcaster
- Risk premium of treasury makeup & tokenomics uncertainty

Farcaster reliance is the biggest short-term risk. This will be remedied as Clanker becomes backend infra for Clanker eco apps that expand its reach outside of Farcaster to X (via @bankr, @streamm) and dedicated apps (via @clankfun, @tinylabs)

Native

Furthermore, Farcaster has several tailwinds of its own. Profile embedded wallets and an underlying social graph make Farcaster ideally suited for the AI agent meta, and Frames v2 is a massive improvement over v1.

/nativefun and @anoncast are best positioned to showcase this

Lack of token clarity: Clanker ecosystem is composed of early-stage bootstrapped projects from talented Base devs at low valuations. Tokenomics ambiguity comes w this, but offers high upside as many of these tokens are fair-launched with < $10M mkt cap.

Competition for volume on maturing tokens: Clanker's model may need some adjustments as it will lose volume to sharper LP pools as tokens mature. Clanker’s original 1% pool currently sees less than 50% of CLANKER dex volume.

TLDR: Clanker is the best way to bet on Farcaster + has a strong claim to the top Base proxy. It straddles exposure to the trenches and the best & brightest builders on Base

See full post for a more detailed intro to the emerging Clanker eco

TLDR: Clanker is the best way to bet on Farcaster + has a strong claim to the top Base proxy. It straddles exposure to the trenches and the best & brightest builders on Base

See full post for a more detailed intro to the emerging Clanker eco https://members.delphidigital.io/reports/into-the-clanker-verse#introduction-53f1

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