BAGS revenue jumps to second place on Solana, a must-have basic tool for a quick overview.

CN
6 hours ago

Original | Odaily Planet Daily (@OdailyChina)

Author|Nan Zhi (@AssassinMalvo)_

Last week, the meme platform BAGS emerged unexpectedly. This platform allows token trading fees to be sent to designated X accounts. Initially, it gained recognition from Nyan Cat creator Chris, and the related token NYAN briefly surpassed a market cap of 10 million USD, sparking the first wave of attention (Odaily Note: "Nyan Cat" videos have accumulated over 200 million views on YouTube, ranking among the top five in views for 2011).

Subsequently, BAGS founder FINN used the trading fees from BTH (Buy The Hat) to purchase a WIF prototype hat for 6.8 BTC, hinting that BTH might be converted into a platform token. Since then, the popularity of the BAGS platform has surged, with BTH's market cap nearing 18 million USD, leading to a continuous emergence of various "charity" concepts and "big V" concepts. On-chain data shows that today, BAGS' fee income has surpassed BONK, ranking second on Solana.

Transactions on the BAGS platform typically follow the three stages of “propose a concept and issue a token” (e.g., selecting a charity organization account or artist) —— “claim tokens” —— “post to thank”, which are also three clear points of contention. Therefore, in addition to the conventional new token scanning tools, other information tools have emerged, which Odaily Planet Daily will summarize in this article.

New Token Scanning

Mainstream trading bots have already supported the scanning function for BAGS, including GMGN, Axiom, etc. However, the display effect for "fee recipients" is relatively average. The official BAGS has launched the auto-publishing X account @LaunchOnBags, which conveniently shows the fee-sharing ratio and recipients for newly listed tokens.

Fee Claiming

Official Account

For the fee claiming behavior, the official account @BagsClaimBot has also been launched. However, it is important to note that this account has a very high reporting delay, often ranging from several minutes to over ten minutes, and it selectively reports, meaning not all claiming events will trigger a report. However, related tokens of well-known figures often see a price increase after being reported by this account, despite the delay of over ten minutes.

Others

Currently, other free public tools include the Telegram channel “Bags Fee Claim Monitoring” developed by @muskguang. This channel can timely monitor all fee claiming behaviors and display relevant account data. However, due to some accounts claiming fees frequently over a long period, there is a lot of distracting information, requiring users to discern which are the key claiming behaviors.

Pending Fee Dashboard

The more pending fees there are, the greater the likelihood that the recipient will claim them. Therefore, the fee balance corresponding to each token is also a key piece of data, which can be specifically viewed from bagscreener. For example, in the image below, it can be seen that Nyan Cat has claimed all fees, while Team Water still has about 880 SOL pending to be claimed.

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