Author: TechFlow
The broad market is fluctuating, the ETH/BTC exchange rate has touched a new low since the end of 2020, and the once glorious SOL in this bull market has also temporarily gone out.
The performance of the mainnet tokens of various chains is bleak, and the on-chain market is also general. According to Artemis data, the net capital inflow of various chains has plummeted in the past week, with only a few chains maintaining a positive inflow. Among them, in addition to the Ethereum mainnet and the Berachain with continued staking heat, the chain with the largest capital flow is the Base chain.
In addition to the recent launch of Coinbase's stock derivative token $wbCOIN on the Base chain, which has brought a new wave of capital inflow, the recent capital growth of the Base chain also has a familiar reason - there are new Memes to play with.
With the poor market sentiment, the emergence of hot spots is not easy. Let's quickly understand what's going on on Base these two days.
Note: Meme token prices fluctuate violently and have a high degree of risk. Investors should fully assess the risks and participate cautiously. This article is only based on market hot spots to share information, and the author and the platform do not guarantee the completeness and accuracy of the content, and this article does not provide any investment advice.
AI market (again) happening on Base
Since last week, Musk's own AI Grok @grok has been letting loose on Twitter, interacting non-stop with Twitter users who @ it.
This "business opportunity" has naturally been captured by crypto players, and people have been constantly trying to guide Grok to mention their own Meme coins on Twitter. At first, Grok did trigger a wave of related hot spot Memes on Solana, and the related token $GrokCoin reached a market cap of nearly $35 million at its peak, but this narrative did not have enough momentum to support it, and after today's PvP, the coin price gradually went to zero.
But the crypto people who were trapped definitely won't give up, but choose to continue to tease Grok, trying to dig out more opportunities.
Surprisingly, they really dug it out, but this time it's on Base.
$DRB (DebtReliefBot) - AI mutual aid collaboration issued a coin
On March 7, Twitter user @coin_domin had Grok issue a token called DebtReliefBot with the ticker $DRB on the Clanker @clankeronbase platform, the AI Agent token issuance platform in the Base ecosystem, through the DeFAI Agent Bankr @bankrbot in the Base ecosystem.
What's ABC? It looks a bit confusing? The thoughtful editor has prepared a simple one-picture flow:
In any case, this $DRB, which was born from the collaboration of three AIs, has been well received, and its market cap reached a high of around $41 million, and is currently around $20 million.
$BNKR (BankrCoin) - The token of the Bankr platform
This wave of excitement is not only $DRB, the $BNKR token of the participating Bankr platform has also been affected by the heat and risen. The highest market value reached $44.5 million, and the current market value is around $41.5 million.
Here's a brief introduction to the important roles of Bankr @bankrbot and Clanker @clankeronbase in the token issuance process.
Bankr is a DeFAI platform developed by @0xDeployer , with core functions including token swap, limit order, transfer and token deployment. After registering with a social platform account (currently supporting X and Farcaster), users can complete a series of crypto account operations (such as directly @ Bankrbot to let it use your wallet to buy $200 worth of $DRB) through natural language on the social platform.
Clanker is an independent AI-driven tool developed by Farcaster engineer Jack Dishman and proxystudio.eth, focusing on deploying ERC-20 tokens on the Base blockchain, and was hot in the Base ecosystem in November 2024. But since most of Clanker's operations can only be completed by dialoguing with it on Farcaster, and even in the crypto circle, the user base of Farcaster is not on the same scale as X, it has gradually faded out of the on-chain PvP vision. (But the price performance of its token $CLANKER has been good)
How does Bankr use Clanker to deploy tokens?
According to the interaction record on X, Bankr clearly stated that Clanker is a "third-party AI agent" that allows Bankr to deploy tokens for its users. For example, X users can request to deploy new tokens through Bankr's interface, and Bankr will use Clanker's protocol to execute this operation in the background. However, according to Bankr's requirements, the deployment process requires the user to hold 5 million $BNKR tokens (about $1,600), and the actual deployment depends on Clanker's technical stack.
This wave of traffic brought by Grok and BANKR has also caused a surge in the number of token deployments on the Clanker platform in the past few days:
In general, there may not be much fundamental difference from the Base AI craze four months ago, it's just that Grok, who has been on fire recently, and the "value discovery" of BANKR&CLANKER have been added this time.
Riding on the heat brought by the AI Agent mutual aid token issuance, some people have also issued their own tokens through Bankr.
$PUBLIC - Viral spread, Base founder crazy retweets
Yesterday, Twitter user Yuri Rybak @bigvibessss also issued his own token $PUBLIC through Bankr, and the token quickly flooded X: many people posted the CA of $PUBLIC, and also attached a white background black text image with only a short sentence.
Yuri Rybak is an artist who has transitioned from a piano performer to a music producer, and entered the crypto space in 2021. He has participated in multiple NFT projects and worked at Zora, and has recently focused on maintaining his personal blog site inpublic.fun, but inpublic.fun is a Zora contract packaged as a website, and when users post comments, an image will be minted.
According to Yuri: "Although running an NFT blog is interesting, the fact that tokens are the future is already obvious. Today marks the beginning of a new experiment, where I will associate my writing, comments and insights with the $PUBLIC token."
In short, this person has decided to issue a token. And in the future, posts in the form of white background black text images will be posted on X instead of the original blog site, which may also be the reason why they were flooded with white background black text images today.
At first, the crazy spread of $PUBLIC had a self-congratulatory feel to some communities. Until the head of Base, Jesse Pollak @jessepollak and the founder of Clanker @_proxystudio repeatedly reposted this project, $PUBLIC began to spread rapidly, and the price soared.
With the reposting of Base's senior executives, $PUBLIC's market cap reached around $4.6 million at its highest yesterday. However, this narrative lacks staying power, and the current market cap has fallen back to around $900,000.
Summary
In addition to the Meme introduced in the article, there have been many KOLs following the heat and issuing tokens through Bankr recently. Clearly, the wealth effect brought by the Bankr → Clanker token issuance chain has attracted many people to join the experience.
But heat and wealth effects must be accompanied by risks. Although the heat has risen, it cannot be ruled out that there are people deliberately doing harm and the market is over-buying. When everyone starts issuing tokens, tokens without a hard enough angle will inevitably face the consequence of going from PvP to zero.
Heat is fleeting, so enjoy it while it lasts. Although ETH in your hands has become cheaper, don't mess around!
