Analysis of the Rainbow Wallet Acquisition of Clanker Last weekend, I was shocked by a sudden acquisition drama while scrolling through Twitter. 1. The Event and Market Reaction Rainbow Wallet suddenly announced it would issue the $RNBW token, and shortly after, it publicly proposed to acquire Clanker, a token launch platform on the Base chain. This operation reminded me of various "cutting first, reporting later" acquisition cases we've seen over the years. As someone who has been in the crypto industry for many years, I feel both familiar and unfamiliar with this sudden public acquisition proposal. Familiar because this kind of drama is common in traditional financial markets; unfamiliar because such operations seem particularly abrupt in the decentralized Web3 world. Rainbow's proposal looks enticing: offering 4% of the total supply of $RNBW tokens (about 20% of the circulating supply at TGE) in exchange for Clanker. According to them, this is to establish Clanker as the...
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