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Clanker is an AI-powered "Token Bot" designed for rapid DIY token deployment. Users simply mark Clanker on a Farcaster client such as Warpcast or Supercast, tell it the token idea, and it will launch the token for the user on the Base.
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Farcaster Acquired by Network School
Odaily News: Decentralized social network Farcaster has changed hands for the second time this year. Balaji Srinivasan's Network School has acquired Farcaster from Neynar, with the transaction amount not yet disclosed. Neynar co-founder Rish stated that after evaluating multiple acquisition offers, the company decided to transfer the Farcaster app, protocol codebase, and related products to Network School, as Farcaster requires a different operational model for its next phase. Rish and fellow co-founder Manan will be leaving, while the remaining Neynar employees will join Network School to continue developing Farcaster. Neynar acquired the platform from Farcaster's original developer Merkle Manufactory in January of this year, with the deal also including token issuance platform Clanker. Rish did not disclose the future plans for Clanker; GM Farcaster hosts Adrienne and NourishProf stated that Rish is considering spinning off Clanker and seeking other buyers for it. An in-app announcement on Farcaster indicates that the platform will be renamed "Network State Protocol," with the goal of building a network of voluntary digital societies that will eventually materialize in the real world. Users must choose to accept or reject a "social smart contract," and those who accept will receive an on-chain access NFT as proof.
Neynar Announces Search for New Owner for Farcaster; Protocol Revenue Plummets 99% Just Seven Months After Acquisition
According to The Defiant, Rish Mukherji, co-founder of Neynar, the current operator of decentralized social protocol Farcaster, announced on August 17 that the company has initiated a process to seek a new team to take over Farcaster, token launchpad Clanker, and its own developer platform, and Neynar staff will be laid off accordingly. This marks the second change of ownership for Farcaster within 2026. In January of this year, the original founding team Merkle Manufactory transferred the protocol contracts, codebase, Farcaster App, and Clanker entirely to Neynar, and original founders Dan Romero and Varun Srinivasan subsequently joined Tempo, a payment public chain incubated by Stripe and Paradigm. The sharp deterioration of Farcaster's economic data is the core reason for this sale. According to DefiLlama data, protocol fees fell from $35.43 million in Q1 2026 to $4.67 million in Q2, recorded only $376,700 in the third quarter as of August 17, and revenue in the past 30 days shrank further to $120,000. Meanwhile, CLANKER token buybacks supported by protocol revenue have completely stopped, with CLANKER currently trading at 12
Alliance Co-founder: Decentralized Social Graph Isn't the Core Value That Attracts Users to Farcaster—Social Trading Could Be the Direction
Odaily News: Imran, co-founder of Alliance, stated on X that Farcaster is a valuable infrastructure and application experiment, but a decentralized social graph alone is insufficient to attract users away from traditional social platforms like X.He believes the direction truly worth focusing on is social trading—integrating new token discovery, speculative trading, and PnL reputation into a native product loop, a model that is currently difficult for traditional social platforms like X and Instagram to replicate. Additionally, Imran summarized this product evolution path as MetaMask → Phantom → Farcaster → Moonshot → Vector → Fomo/Pump, noting that each generation of products further reveals what crypto users genuinely care about.Previously, Neynar co-founder Rish Mukherji posted on X that the team has initiated a process to find new ownership or operational teams for Farcaster, Clanker, and Neynar.
Neynar will seek new operating teams for Farcaster, Clanker, and return remaining company funds
Odaily News - Neynar co-founder Rish Mukherji posted on X platform, stating that the team has initiated a process to find new custodial or operating teams for Farcaster, Clanker, and Neynar, and is currently in discussions with several teams that may be suitable for operating decentralized social applications and related developer products.Rish stated that as circumstances have changed over the past few months, the Neynar team is no longer the right fit to lead the next phase of development for these products. The company will return the funds on its balance sheet, most of which remain intact, while team members will pivot to new directions. He also expressed continued optimism that Farcaster will find a long-term sustainable development model in its next phase.
Coinbase Suspends Trading of 25 Perpetual Contracts and Completes Auto-Settlement
According to an official announcement, Coinbase has suspended trading of 25 perpetual contracts, as previously announced. All outstanding positions in these contracts have been automatically settled at the final settlement price. The affected contracts include TRB, RARE, NEIRO, A, ME, XTZ, KMNO, RAY, STX, ENS, GMT, SNX, 1000FLOKI, 0G, ORDI, NIL, BIO, UMA, BEAM, INIT, SOMI, EGLD, CLANKER, SOPH, and BIGTIME. The final settlement price was calculated as the average index price over the 60 minutes preceding the suspension. Coinbase stated that this action aims to focus on products that consistently meet liquidity and market quality standards, and that it will accelerate the launch of new perpetual contracts by optimizing internal processes.