Editor’s note: This article was first published on December 11 at 19:38. Less than 3 hours later at 22:22, Larry’s founder David Fulong (@df) published a cast announcing that Larry’s asset issuance mechanism had undergone major changes. The current situation is: all coins will graduate, and there will never be a situation where only one plate is shot out in two days - Larry’s running water plate era has arrived, and the leading token $LARRY has risen to twice the price when the article screenshot was taken. The following is the main text:

Recently, innovations in asset issuance methods on Base have continued to emerge: "Can you really play Base Golden Shovel Clanker?"After the release of the article, many new products have emerged in the community, and Larry is one of the most distinctive ones.

At 12 noon on December 5, David Fulong (@df), a senior developer of Farcaster and founder of the Frame protocol, released a cast, announcing the birth of Larry.

Team Background: Larry vs Clanker

Clanker was founded by @_proxystudio and @JackDishman, and Larry was founded by  @davidvfurlong and @stephancill.

Farcaster veteran player @0xLuo Science popularization: Clanker's founding team is the new developers of Farcaster, Larry's founding team is Farcaster OG, @davidvfurlong's resume is particularly impressive: his company has received investment from A16Z (note that A16Z did not invest in Larry), and he himself is also the proposer of the Frame protocol - Frame is a major innovation of Farcaster, and it is also the key to the Farcaster team's "open" $150 million.

In contrast, Larry's team is more politically advanced; but Farcaster's OG status is a negative buff for the publisher, after all, it is well known that Farcaster is a mosque...

From an operational perspective, Clanker does understand memes better. Its founder @proxystudio.eth often contributes various "god comments" to Farcaster, and Clanker's official account (@_proxystudio ) is also very funny:

On the other hand, Larry, probably because it was launched less than a week ago, the entire team has focused on product development and mechanism design, and has almost not carried out any support for ecological projects or the operation of official brands and communities. This is an important reason why its leading token $LARRY (currently around 3M, up to 7M) lags far behind Clanker's leading token $CLANKER (currently around 50M, up to 150M) in market value.

Asset Issuance Mechanism: Larry vs Clanker

In a nutshell, Larry and Clanker are both AI Agents that issue tokens as soon as they post. Larry’s asset issuance method imitates Pumpfun’s internal and external pool mechanism, while Clanker’s asset issuance method is fair launch. The former’s shortcoming is that the threshold restricts retail investors from participating in the early stage, while the latter’s shortcoming is that it is difficult to overcome robot sniping.

Asset issuance mechanism: Clanker

Specifically, by tagging Clanker on Farcaster and stating the token name, ticker, and header image, Clanker can add a Uniswap pool with a starting market value of approximately US$30,000 to Base for free (the threshold is that the Neynar score of the Farcaster account must be high enough, which means it is difficult for newcomers to issue coins). All deployed tokens can be viewed on the official website.

Unlike PumpFun, which charges 1% transaction fee + 2 Sols on Raydium fee during the bonding curve, Clanker does not have a bonding curve, but charges 1% handling fee from Uni v3 as income: 40% to the issuer and 60% to the Clanker team - this split ratio may change, see official documentation for details.

Asset issuance mechanism: Larry

Like Clanker, Larry also issues tokens by posting with a threshold limit.

After receiving the message, Larry AI Agent will launch an internal market on its official website Larry.club : The latest rule is that the upper limit of the internal market fundraising time is changed to 69 minutes, each person can put in a maximum of 0.25E, and all people put in a total of 3E. After it is full, it will be opened on V3 after a while. (Previously it was 15 minutes and over-raising was allowed)

The specific details are that a launch button will appear on the page, and then an internal market user needs to confirm to pay the gas fee (Note: the dev sold shown on GMGN is actually the user who clicked the launch button, not the real developer...)

One point in the whole mechanism that has been criticized is that the neynar score needs to be higher than 0.8 to fill the inner plate, and ordinary retail investors can't fill it at all. They can only watch Farcaster OGs fill the inner plate, and then take their chips in the outer plate - in fact, the intention of the mechanism designer can be understood: after all, this is an era where whoever has the bottom chips is the dealer, and the team hopes that the "dealers" will cherish their feathers and not smash them as soon as the market opens - but the reality is: many plates on Larry are drilled into the ground in 10 seconds, because the people on the inner plate know how bad the experience of the people on the outer plate is. If the angle is not tricky enough, no one will come to take it, so a stampede of the inner plate is formed...

Currently, the voice of FUD Larry token occupies the mainstream, except for the leading tweet)

But it’s still early days, the mechanism design may change at any time, and the team is also constantly thinking about how to achieve the best coupling between the internal disk mechanism and the real-name PVP Socialfi game - let us continue to observe. (For a more detailed comparison between Clanker and Larry, see this tweet.)

Larry’s development history: from drilling into the ground to V-reversal

BUG storm: explosive pull and then drilling into the ground

Open the candlestick chart of $LARRY, you will find that it pulled up on the first day, and then continued to drill into the ground for the next two days.

(Note again: the dev sold shown on GMGN is actually the user who clicked the launch button, not the developer)

Why? The most important reason is that Larry's software crashed at the beginning. On the one hand, it could not issue coins. On the other hand, it was caught in a public opinion storm that the software had a bug and introduced internal insider trading: An anonymous person said that two participants used the bottom 0.6 ETH and 1.05 ETH to sell when the market was rising, and each earned 90k and 12k...

The founder @davidvfurlong admitted the software bug and apologized, and then fixed the vulnerability. He also continued to fix the bug for the next two days, which was quite embarrassing: the coin price went down all the way, from the highest 7M to less than 1M...

Continuous construction: drilling is rising again

BUG After repairs and mechanism optimization, the K-line of Drilling has risen again, and is currently fluctuating between 2M and 4M.

Two days ago, the founder @davidvfurlong did another big thing: he released a Farcaster AI template as open source, allowing later developers to quickly deploy AI Agents on Farcaster, which led to a series of AI Agents interacting with Larry, including dqau, which reproduced the "man-machine game" story of @freysa_ai that made Twitter popular on Farcaster (the corresponding token is $GRVM)

What is the future of Larry?

The editor observed the community and found that the evaluation of Larry by community members can be summarized in eight words: "Sorry for his misfortune, angry at his lack of struggle."

"Sorry for his misfortune" means that Larry's release did not cater to the right time: on the day of Larry's release, Clanker was making a fortune and was in the limelight; in addition, the liquidity of the Farcaster ecosystem was far from sufficient for people to chase the second dragon; and who would have thought that the products of the two super developers would have a lot of bugs as soon as they were launched - the leading token $LARRY and its ecological tokens were continuously suppressed, and many "precious angles" were wasted...

"Angry at their lack of competition" refers to the fact that Larry's team is too halal, does not know how to make things happen, and more importantly, does not know how to make markets - this is actually a common problem for all Farcaster tokens.

This wave of memes is a key step in the process of Farcaster's de-halalization. People will gradually flock in: from the lone P players to the real dealers, who can only bring about a flood of money by leveraging - I hope this day will come soon.

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