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 foundational pillar of a "chain-based Robinhood." But the plot twist came faster than I expected. Clanker founder Jack Dishman quickly clarified that they had rejected this acquisition proposal as early as last Thursday. Interestingly, Dishman revealed that after being rejected, Rainbow threatened to make the acquisition letter public. This reminded me of the power games before the launch of the EOS mainnet in 2018. At that time, there were also various open letters flying around, and the community was severely divided. Only this time, the main characters have changed to a wallet and a launch platform. The market's reaction was quite direct—the price of the $CLANKER token surged 70% instantly, skyrocketing from $28 to $48. This reminded me of the old saying: "When good news comes out, regardless of its truth, it rises first." 2. Technical Logic and Community Response From a technical perspective, Rainbow's logic for wanting to integrate Clanker makes sense. Clanker has already generated $39 million in fee revenue on the Base chain, which is indeed impressive in the current meme coin craze. As one of the largest independent wallets in the Ethereum ecosystem, Rainbow does need more sources of income. But the problem is that this kind of public pressure can easily provoke resentment in decentralized communities. I remember when Uniswap was "honored" by various clone versions, the community's reaction was similar—people preferred to support projects that maintained their independent spirit. 3. Deep Reflection and Future Outlook Looking back now, this entire event actually reflects a deeper question: Is traditional business acquisition logic still applicable in the Web3 world? Clanker's rejection, to some extent, represents a commitment to decentralized spirit. On the other hand, Rainbow's approach seems more like the thinking of traditional internet companies—expanding the business landscape quickly through acquisitions. As a user, I tend to support projects that can maintain independent operations. After all, the charm of decentralization lies in the absence of a single control point. How this acquisition drama will ultimately conclude remains to be seen. But one thing is certain: the trend of wallet tokenization is unstoppable, and more similar stories will unfold in the future. @rainbowdotme